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World's Wealthiest Property Moguls Live In Hong Kong

May 25, 2019   |   Sunita Mishra

The fact that it tops the UBS list of countries at bubble risk notwithstanding, world’s richest real estate moguls continue to live in Hong Kong, a city that also has the dubious distinction of being the least affordable property market in the world.

In Demographia International Housing Affordability Survey, Hong Kong retained its position as the least affordable property market in the world in 2019. Data show it would take an average skilled worker over 20 years of their income to afford a property in Hong Kong.

Of the 500 richest people listed on the Bloomberg Billionaires Index 2019, 43 owe their fortunes to real estate. Of these, 10 are from Hong Kong, with a combined net-worth of $135.82 billion. Notably, in this year’s list, 18 billionaires are from Hong Kong.

While a greater number of property moguls live in the US (14) , the richest still come from Hong Kong. The combined wealth of US billionaires from the real estate business ($100.61 billion) is less than the combined net-worth of Hong Kong’s real estate tycoons.

Chinese Billionaire Hui Ka Yan, who owns the Kong-Kong listed Evergrande Group, has emerged the richest property mogul with his $33.9 billion fortune. A total of five Chinese billionaires have made their fortune in real estate, the index shows.

Also read: Bengaluru Is World’s Most Dynamic City, Hyderabad 2nd: Report

Of the 19 Indians that have made it to the list, only one has done it on account of real estate. With his $4.29 billion fortune, DLF’s KP Singh occupied the 458th position in the list.

Richest real estate moguls in Hong Kong

Name

Rank

Net worth (in $ billion)

Li Ka-Shing

29

31.9

Lee Shau Kee

32

24.9

Raymond Kwok

105

12.9

Thomas Kwok

106

12.9

Peter Woo

109

12.8

Joseph Lau

183

8.4

Hui Wing Mau

185

8.30

Vivien Chen

242

6.77

Francis Choi

402

4.80

Edwin Leong

499

4.05

Total

 

135.82

Richest real estate moguls in the US

Name

Rank

Net worth (in $ billion)

Donald Bren

63

17.2

Sun Hongbin

135

10.8

Stephen Ross

148

10.1

Dan Gilbert

165

9.08

Stan Kroenke

195

8.02

John Albert Sobrato

213

7.39

Richard LeFrak

294

5.84

Leonard Stern

355

5.17

Jeff Sutton

364

5.11

Edward Roski

391

4.87

Sam Zell

417

4.68

Ted Lerner

476

4.17

Igor Olenicoff

485

4.13

Total

 

100.61




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