HONG KONG’S RICHEST
2021
EDITED BY GRACE CHUNG
FEBRUARY 24, 2021
F
Hong Kong’s economy contracted 6.1% in 2020, its worst performance since 1998, in the aftermath of the Asian financial crisis. But stock market gains provided some reprieve; the benchmark Hang Seng index was up 5% since fortunes were last measured 13 months ago. That resilience helped boost the combined net worth of the 50 richest by 7.5% to $331 billion, up from $308 billion last year. In a city where wealth is concentrated in real estate, a sector hit hard by the pandemic, it’s no surprise that more than half of the 27 listees who saw their fortunes decline this year were property tycoons. But “Superman” Li Ka-shing reclaimed his prime position as the city’s richest this year with a 20% jump in his fortune to $35.4 billion, thanks to his stake in Zoom.
For more coverage of Hong Kong's Richest 2021, click here.
Hong Kong’s economy contracted 6.1% in 2020, its worst performance since 1998, in the aftermath of the Asian financial crisis. But stock market gains provided some reprieve; the benchmark Hang Seng index was up 5% since fortunes were last measured 13 months ago. That resilience helped boost the combined net worth of the 50 richest by 7.5% to $331 billion, up from $308 billion last year. In a city where wealth is concentrated in real estate, a sector hit hard by the pandemic, it’s no surprise that more than half of the 27 listees who saw their fortunes decline this year were property tycoons. But “Superman” Li Ka-shing reclaimed his prime position as the city’s richest this year with a 20% jump in his fortune to $35.4 billion, thanks to his stake in Zoom.
For more coverage of Hong Kong's Richest 2021, click here.
