The Top 20 Billionaires of Asia-Pacific
Mukesh Ambani has lost his spot as the richest person in Asia to Hong Kong’s Li Ka-shing
Li Ka-shing
GLOBAL RANK: 9
$25.5 BILLION
HONG KONG, Diversified
Li’s vast empire employs 270,000 people in 53 countries; his businesses have built one out of every 7 residences in Hong Kong, his Hutchison Port Holdings handles about 13% of the world’s container traffic, and his recently acquired Northumbrian Water supplies clean drinking water to 4.5 million people in England and sewerage services to another 2.7 million.
Mukesh Ambani
GLOBAL RANK: 19
$22.3 BILLION
INDIA, Oil & Gas
He is still the world’s richest Indian, but he loses his spot as Asia’s richest. A spat between his oil and gas conglomerate, Reliance Industries, and India’s oil ministry over declining output at KG-D6, India’s largest offshore gas field, has dragged down the market cap of India’s most valuable company. It inked a $7.2 billion deal with BP last year to help increase production. After net profits dropped 14% in the last quarter, company announced $2.1 billion buyback at 10% premium to stock price.
Lakshmi Mittal
GLOBAL RANK: 21
$20.7 BILLION
INDIA, Steel
Mittal lost $10.4 billion in the past year, more than anyone else in the world, and drops out of the top 10 for the first time since 2004. Shares of his ArcelorMittal, the world’s largest steelmaker, tanked due to surging costs and tepid demand in Europe. Commissioned for the London 2012 Olympics, the 377-foot-tall Mittalfunded ArcelorMittal Orbit is the UK’s tallest sculpture.
Raymond & Thomas
Kwok & family
GLOBAL RANK: 27
$18.3 BILLION
HONG KONG, Real Estate
Thomas and Raymond were named joint chairmen of Hong Kong’s biggest real estate developer, SHKP, in September, replacing their mother; value of shares have soared since then on signs of credit easing by China. Feuded with older brother Walter, whom they eliminated from family trusts but who still sits on board.
Lee Shau Kee
GLOBAL RANK: 29
$18 BILLION
HONG KONG, Diversified
Property baron upped his stake in his Henderson Land Development by 7 percentage points last year when market was swooning. His Miramar Group has expanded into China’s hot luxury retail market with DKNY Jeans venture.
Georgina Rinehart
GLOBAL RANK: 29
$18 BILLION
AUSTRALIA, Mining
Asia-Pacific’s biggest gainer is now the region’s richest woman. Her fortune doubled to $18 billion thanks to a $10 billion deal signed in January that will see South Korean steel giant Posco take a 15% stake in her yet to-be-developed Roy Hill iron ore mine in Western Australia. Rinehart may not be able to hold on to the assets for long, as 3 of her 4 children are suing her over operation of the family trust.
