The criteria for inclusion extend to foreign nationals with business connections to Hong Kong, highlighting the city’s role as a global financial center. As Hong Kong navigates its economic environment, the interaction between stock market performance, challenges in the property market, and the rise of new wealth holders will continue to influence the fortunes of its wealthiest residents.
Economic Landscape in 2025
The economic landscape in 2025 presents a complex mix of growth and challenges, especially among its wealthiest individuals. The economy saw a modest growth rate of 2.5% in 2024, supported by stimulus measures from China that significantly boosted investor sentiment.
This led to a remarkable increase in the benchmark Hang Seng index, which rose by over a third compared to the previous year. However, despite this positive trend, the combined net worth of the city’s 50 richest tycoons experienced only a slight rise, increasing from $296 billion to $301 billion.
Wealthiest Individuals
Li Ka-shing remains the wealthiest individual in Hong Kong, with a fortune of $37.3 billion. Despite facing challenges from a prolonged downturn in the property market that negatively impacted shares of his flagship CK Asset Holding, his diverse investment portfolio has helped cushion losses.
Following him is real estate magnate Lee Shau Kee, whose net worth is $29.2 billion, bolstered by the completion of The Henderson, a $3.3 billion office tower that has become a new landmark in the city.
Fluctuations Among the Top 50
The wealth dynamics among the top 50 reveal significant fluctuations, particularly for Henry Cheng, who ranks third with a net worth of $19.5 billion. Cheng’s fortune, shared with his family, saw the largest dollar decline, dropping by $2.6 billion due to a slump in shares of his Chow Tai Fook Jewellery Group.
Additionally, the challenges faced by Cheng’s debt-laden property arm, New World Development, which is currently exploring offers for various assets, including a prominent Hong Kong mall, complicate his financial situation.
Notable Gains and New Entrants
In contrast, Joseph Tsai, cofounder and chairman of Alibaba, recorded the most significant dollar gain this year, increasing his wealth by $2.3 billion. This surge is largely attributed to a rise in Alibaba shares following the release of a new AI model, Qwen, in January.
Tsai’s financial success is also linked to his sale of a 15% stake in BSE Global, which owns the NBA team Brooklyn Nets, for $688 million. The strong demand for sports apparel has positively impacted shares of Crystal International Group, further enhancing the wealth of cofounder Kenneth Lo, whose fortune soared by 64% to $1.8 billion.
New Generations and Departures
The 2025 list also features new entrants, including Francis Lui, the eldest son of the late casino mogul Lui Che Woo. Following his father’s passing in November, Francis was appointed chairman of Galaxy Entertainment Group, a leading gaming and hospitality company in Macau.
Another newcomer is Yang Qiumei, who inherited a stake in the Chinese AI giant SenseTime from her late husband, Tang Xiao’ou. These additions reflect the evolving nature of wealth in Hong Kong, as new generations step into significant roles within established enterprises.
Changes in Wealth Concentration
Among the returnees is Zhuo Jun, who reappears on the list after inheriting shares in Shenzhen Kinwong Electronics over a decade ago. The company’s stock has nearly doubled in the past year, driven by increased demand from auto-related and server companies.
However, the list also saw the departure of notable figures, including Li Sze Lim, cofounder of R&F Properties, who faced significant challenges due to the ongoing property crisis in China.
Criteria for Inclusion
This year, the cutoff for inclusion in the list of Hong Kong’s richest has risen to $1.4 billion, up from $1.1 billion in the previous year. This increase reflects the growing concentration of wealth among the city’s elite, even as broader economic challenges persist.
The methodology for compiling the list involves a comprehensive approach, utilizing information from various sources, including individuals, analysts, government agencies, and stock exchanges. Net worth calculations are based on stock prices and exchange rates as of February 7, with real-time valuations available on financial platforms.
📎 Related coverage from: forbes.com
