Stanley Ho, the chairman of SJM Holdings, went up to the 13th spot on Hong Kong’s 2011 40 Richest list organised by Forbes magazine, from the 17th position one year before. Mr Ho’s net worth is now estimated to be US$3.1 billion (MOP24.8 billion). On 2010’s list, Forbes evaluated his net worth at US$2.1 billion. One spot behind Mr Ho is Lui Che Woo, the chairman of Galaxy Entertainment Group, with a net worth of US$3 billion. Mr Lui was 24th on 2010’s list, with a net worth of US$1.47 million. Both casino moguls saw their net worth increase mainly due to the rebound of Macau’s gambling industry, which helped to boost SJM and Galaxy Entertainment’s profits and share price, according to Forbes magazine. The list’s 40 richest are worth US$163 billion, up from US$135 billion, but still below the 2008 peak of US$178 billion. Hong Kong’s richest person is still Li Ka-shing, with a net worth of US$24 billion.
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