Billionaire count: 64
Total wealth: $190 billion
As one of Asia’s key financial centers, Hong Kong is also home to some of the richest people with a billionaire count of 64.
Billionaires in Hong Kong make up 2 percent of the city’s ultra-wealthy population, but account for more than 40 percent of the group’s combined wealth. The ultra-wealthy are those with assets worth $30 million or more. Slowing economic growth across North Asia has had a direct impact on Hong Kong’s 3,135 ultra-rich people. The total wealth of this group dropped around 11 percent, while their numbers fell 2 percent to 470 between August 2011 and July 2012, keeping with a trend seen across Asia.
Hong Kong’s richest man, 84-year-old billionaire Li Ka-shing (pictured) — who is also the richest individual in Asia and the ninth richest in the world — saw his fortune decline. Li Ka-shing’s net worth fell to $22 billion in May from $25.5 billion in March this year, according to Forbes. The majority of Hong Kong’s top 10 billionaires are involved in the property sector and have in recent years benefited from mainland Chinese demand for the island’s real estate. But a slowdown in China this year has dampened demand, weighing on the city’s property companies.