Local moguls reshuffled on Forbes rich list

Although undergoing a reshuffle since the downturn experienced in the local economy, moguls from the SARs are climbing back up the ranking in Forbes’ Hong Kong’s 50 richest people.
Highest ranked comes Chow Tai Fook founder Li Ka-shing, ranked first on the list, and worth about HK$30.3 billion (US$3.8 billion), whose closest follower on the list with ties to Macau is ailing Joseph Lau, worth HK$15.5 billion due to his real estate empire, despite the La Scala debacle. Coming in sixth is Lui Che Woo, founder of Galaxy Macau, who’s worth is estimated at HK$11.2 billion. Lower down the billionaire list, with roughly a third of Lui’s fortune, is Pansy Ho – whose Shun Tak and MGM Macau businesses left her ranked in 16th place, with HK$4.3 billion. Pansy comes just two positions above SJM’s Angela Leong, who’s worth an estimated HK$4 billion.
A number of positions below sits Melco Crown Chairman Lawrence Ho, at 42nd and estimated to be worth HK$1.43 billion after a rocky start to Studio City.
The billionaires’ fortunes seesawed over the past few years, with Lui Che Woo’s seeing one of the biggest increases on the rich list last year, as his wealth increased 40 per cent, notes Forbes. Pansy Ho also saw her wealth increase nearly 20 per cent in the year, in anticipation of MGM Cotai’s opening in the third quarter.