Li Ka-Shing Tops Wealth-X's List Of Asia's Richest Self-Made Entrepreneurs
Billionaire Tycoons from Hong Kong and China Take 7 Out of 10 Spots
Apr 30, 2014, 01:00 ET
HONG KONG, April 30, 2014 /PRNewswire/ -- Hong Kong tycoon Li Ka-Shing is Asia's wealthiest self-made entrepreneur with a net worth of US$29.4 billion, taking the top spot on a Wealth-X list that is dominated by other businessmen from the Special Administrative Region and mainland China.
The combined wealth of the seven individuals from Hong Kong and mainland China is US$128.7 billion, nearly 70% of the total wealth of the 10 men on the list.
To compile the list, Wealth-X – the world's leading ultra high net worth (UHNW) intelligence and prospecting firm – looked at self-made entrepreneurs with a primary business address in Asia.
Li, the 85-year-old founding chairman of Cheung Kong Holdings, made the bulk of his wealth through shrewd property investments. He and his family, however, have been on a selling spree in mainland China since August 2013 – reportedly selling about $2.9 billion of their Chinese property assets in less than a year.
Below are the top 5 individuals on the Wealth-X list:
| Rank |
Name |
Net Worth* |
Business Address |
Primary Company |
Primary Industry |
| 1 |
Li Ka-Shing |
29.4 |
Hong Kong |
Cheung Kong Holdings |
Real Estate |
| 2 |
Lee Shau Kee |
22.8 |
Hong Kong |
Henderson Land Development |
Real Estate
|
| 3 |
Lui Che Woo |
21.1 |
Hong Kong |
K. Wah Group |
Industrial Conglomerates |
| 4 |
Wang Jianlin |
16.6 |
China |
Dalian Wanda Group |
Industrial Conglomerates |
| 5 |
Masayoshi Son |
16.4 |
Japan |
SoftBank Mobile |
Communications |
*In US$ billion
The combined wealth of the 10 businessmen on this year's list is US$169.9 billion as of 31 March 2014, up 52% from the combined wealth of the 10 entrepreneurs who appeared on the list a year ago - US$112 billion.
Wealth-X CEO Mykolas Rambus commented: "Asia is still at the early stages of a 150-year cycle of wealth creation, and we expect wealth in the region will be extremely dynamic in the years to come. China will continue to dominate the Asian economic landscape, and the wealth of China's ultra high net worth population will increase at a rapid clip."
Download the full list at http://www.wealthx.com/articles/2014/li-ka-shing-tops-wealth-xs-list-of-asias-richest-self-made-entrepreneurs-2
About Wealth-X
Wealth-X is the world's leading ultra high net worth (UHNW) intelligence and prospecting firm with the largest collection of curated research on UHNW individuals, defined as those with net assets of US$30 million and above. Headquartered in Singapore, it has 13 offices on five continents. (www.wealthx.com)
SOURCE Wealth-X
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