Three Macau casino magnates have made it to the Forbes list of Hong Kong’s 50 Richest. Among these is Galaxy Entertainment Chairman Lui Che Woo, who ranked among the top 10 wealthiest tycoons on the list.
As of Wednesday, Lui Che Woo was worth $12.4 billion and ranked at the 7th position on the above-mentioned Forbes list. He is also the 153rd richest person in the world.
According to Forbes Asia, the combined wealth of the 50 tycoons declined to $296 billion from $324 billion last year.
“Hong Kong’s economy grew an estimated 3.2 percent in 2023, buoyed by an uptick in tourist arrivals and consumption,” the publication said. “However, with a sluggish IPO market and a stagnant property sector, the post-pandemic recovery has been slower than expected.”
Pansy Ho
Pansy Ho, the Chairwoman of Shun Tak Holdings, who is also the Chair and Executive Director of MGM China, has secured 22nd place on the list with a fortune of $3.9 billion, as of Wednesday, and ranks 779th globally.
Angela Leong
The third casino magnate to enter the Forbes list is Macau-based Angela Leong, Executive Director of SJM Holdings, who earned the 33rd spot on the list and has generated nearly $2.4 billion.
Securing and retaining the top position overall on the list was Li Ka-shing with her net worth slipping to $37 billion from $39 billion previously despite retaining the top spot. Shares of Li’s CK Asset Holdings, which reduced prices of some residential projects to boost demand, dropped by a third from last year.
Forbes noted that the list was compiled using information from individuals, analysts, government agencies, stock exchanges, databases, and other sources. Net worths were based on stock prices and exchange rates as of the close of markets on February 2nd. The ranking lists both individual and family fortunes, including those shared among relatives.
Private companies were valued by using financial ratios and other comparisons with similar companies that are publicly traded. The list can also include foreign citizens with business, residential, or other ties to the city, or citizens who don’t reside in the city but have significant business or other ties to the city.
Original article: https://www.yogonet.com/international/noticias/2024/02/27/70971-three-macau-casino-magnates-listed-on-forbes-39-hong-kong-39s-50-richest-ranking
