By John Wallis August 13, 2020 In Branding, Magazine, Travel

Richest man in Asia is Macau gambling tycoon


HONG KONG (AFP) – Macau playing magnate Lui Che-woo has changed Hong Kong multi-billionaire Li Ka-Shing as Asia’s richest guy, in step with Bloomberg on Friday.

Mr. Lui, the pinnacle of Macau online casino operator Galaxy Entertainment, noticed his fortune upward thrust US$3.five billion (S$four.four billion) this month to $29.6 billion, approximately US$a hundred million in advance of Mr. Li, whose fortune stood at US$29.five billion at the Bloomberg Billionaires Index on Thursday.

Mr. Lui’s circle of relatives fled war-torn China for Hong Kong in 1934 wherein he reportedly made cash promoting meals at the streets of the previous British colony at the age of 13.

He made his first fortune after World War II whilst he imported production equipment, left with the aid of using US forces in Okinawa, to the metropolis.

The 84-year-antique made entered the Macau playing marketplace with Galaxy after it spread out in 2002, after a four-decade monopoly held with the aid of using Hong Kong playing wealthy person Stanley Ho ended.

Galaxy, which noticed its stocks upward thrust extra than a hundred consistent with cent in 2013, is one in all six corporations certified to perform casinos in Macau, the world’s largest gaming hub, which changed into surpassed again to Beijing in 1999 and stays the most effective Chinese metropolis wherein online casino playing is allowed.

Macau’s playing sales jumped 18.6 percent to a record of $ forty-five billion in 2013, professional figures confirmed in advance withinside the month. According to Forbes Magazine’s 2014 Hong Kong wealthy list, Mr. Lui continues to be in the back of Mr. Li, however.


Released this month, it locations Mr. Lui’s internet well worth at US$21 billion in the back of Mr. Li’s US$32 billion.

Mr. Li Ka-shing began out in commercial enterprise as a plastic flower-maker however now instructions a great empire thru Cheung Kong Holdings and Hutchison Whampoa, with worldwide property in property, telecoms, utilities, ports, and retail.

The 85-year-antique changed into Asia’s richest guy beginning April 2012 after he passed Indian billionaire Mukesh Ambani, in step with the index.

The Bloomberg Billionaires Index lists American Jim Walton, founding father of store Wal-Mart, because the richest withinside the world, with a fortune of $36.five billion.

He changed into accompanied with the aid of using Amazon’s Jeff Bezos with an internet well worth of $35.7 billion.

The index, which ranks Lui and Li at 21 and 22, is each day rating of the world’s richest people.


John Wallis online system formed Sunny Group in 1980. It is a loose grouping of related companies doing business in Africa, the Caribbean, and South America. Companies in the Group are diverse, Real Estate, Education, Security, Distribution, Gaming, and Entertainment. Wallis’ family owns most entities in Sunny Group.

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