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Five Out of Ten Biggest Chinese Fortunes Come from Real Estate

2014/04/23 by Michael Cole Leave a Comment

Forbes China just released its 2014 Rich List, detailing the fortunes of the 290 richest Chinese tycoons, and found that five out of the top ten fat cats come from the real estate sector, with two more owning development companies.

Li Ka-shing

Leading the list again this year is Hong Kong’s Li Ka-shing, whose Cheung Kong Holdings is one of the largest developers of residential, office, retail, industrial and hotel properties in Hong Kong. Li’s fortune is estimated at US$31 billion. The survey examined the assets of Chinese wealthy individuals on the mainland, Hong Kong and Taiwan, as well as in other parts of the world.

Lui Che Woo

Second on the Rich List in 2014 is Lui Che Woo, owner of gaming company Galaxy Entertainment Group whose assets are said to total US$22 billion. Hong Kong-based Lui’s family business controls gambling operations in Macau, and while not strictly a real estate guy, he happens to own Hong Kong-listed developer K. Wah.

lee shau-kee

Coming in third is Lee Shau-kee of Hong Kong, the majority owner of Henderson Land Development, a property conglomerate with interests in properties, hotels, restaurants and internet services. Lee’s assets are said to total $19.6 billion.

cheng yu-tung

In fourth place is Cheng Yu-tung with assets of $16.2 billion. The chairman of New World Development Corporation, also owns the Chow Tai Fook chain of jewelry stores.

Wang Jianlin
At number five, we find the top mainlander, Wang Jianlin of real estate giant Dalian Wanda, with a fortune of $15.1 billion.

Pony Ma of Tencent

Next on the list, at number six, is the first non-property entrant, Pony Ma of software provider Tencent, with assets of $13.4 billion.

Kwok brothers Sun Hung Kai

Winning the award for best appearance as a duo, at number seven we have brothers Thomas and Raymond Kwok of Hong Kong developer Sun Hung Kai, with combined assets of $12.6 billion.

Robin Li Baidu

Another software guru finishes eighth, as Baidu’s Robin Li is estimated to have accumulated $12.1 billion by being China’s answer to Google.

zong qinghou wahaha

At number nine, we find China’s one-time richest man, Zong Qinghou, of soft-drink maker Wahaha with a fortune of $11.6 billion.

Robert Kuok Shangri-la

At number 10 is hotel and real estate tycoon Robert Kuok, with personal assets of $11.5 billion. Kuok  started out in the sugar industry before founding the Shangri-La Hotels and Resorts group. In addition to owning most of his hotels, the Malaysian-born billionaire also owns property developer Kerry Properties.

Among the 290 names on the list, 52 percent are from the Chinese mainland, 15 percent from Hong Kong and 10 percent from Taiwan.

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Filed Under: Real Estate Professionals Tagged With: Cheng Yu-tung, crebrief, higanlin, Lee Shau Kee, Li Ka-shing, Lui Che woo, Pony Ma, Raymond Kwok, Robert Kuok, Robin Li, Thomas Kwok, Wang Ji, Zong Qinghou

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