(Yicai Global) Jan. 19 -- Chinese business magnate Li Ka-shing topped the 2018 Forbes Hong Kong Rich List yet again. Benefiting from the sound development of stock and property markets in Hong Kong last year, the tycoon's wealth has risen significantly over the past year, business magazine Forbes said.
Chairman of CK Hutchison Holdings Ltd. [HKG:0001] Li Ka-shing's net assets increased by USD5.7 billion to USD36 billion, crowning the list for the 20th consecutive year.
Chairman of Henderson Land Development Company [HKG:0012] Lee Shau kee's wealth recorded the highest rise, up USD9.3 billion, with total assets reaching USD32.9 billion, ranking second in the list. Cai Chongxin, vice chairman of Alibaba Group Holding Limited [NYSE:BABA], has become the first internet magnate to rank among the top 10 with USD10.4 billion, climbing to 9th place from last year's 12th.
Overall, the total wealth of these Hong Kong tycoons has soared by USD60 billion to USD307 billion. "This represents the biggest leap ever for a Forbes Asia 50 Rich List, propelled mainly by a 37 percent jump in the Hang Seng Index, a booming real estate market and a strong global economy," said Forbes.