Lee Shau-kee crowned Hong Kong’s richest man in latest survey by Forbes Asia, Li Ka-shing in second spot after decades at the top
- Li Ka-shing’s wealth dropped to US$29.4 billion in 2020 from US$32 billion in 2019, putting him at No. 2
- Fortunes of China’s top billionaires surpass wealth of Hong Kong counterparts
For the first time in nearly a generation, Li Ka-shing is not the richest man in Hong Kong, according to the newly released list of Hong Kong’s richest tycoons by Forbes Asia. Li’s wealth dropped to US$29.4 billion in 2020 from US$32 billion in 2019, putting him at No. 2.
Henderson Land Development’s Lee Shau-kee has been crowned the city’s richest man after his wealth rose 3 per cent to US$30.4 billion, pipping Li, the founder of conglomerate Cheung Kong Holdings, by US$1 billion.
In the 2013 book Walking the Tycoons’ Rope, Robert Wang described the intense rivalry between Lee and Li, both of whom vie for the title of Hong Kong’s richest man.
“The difference between No. 1 and No. 2 is huge. The former gets all the attention. When prime ministers and politicians visit, they ask to see him. He also gets to see them when he travels overseas. He gets all the media attention,” Wang said.