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HK Tycoon Li Ka-shing Slips Five Places on Rich List
Hong Kong Tycoon Li Ka-shing has slipped five places on the world's rich list to be the 28th, after reportedly losing 4.5 billion HK dollars (US$576 million) last year, reports Hong Kong's English newspaper "South China Morning Post" Monday.
The annual list of the world's wealthiest people published by " Sunday Times" in London estimated the Cheung Kong chairman to be worth 84.5 billion HK dollars (US$10.8 billion), down from 89 billion HK dollars (US$11.4 billion) last year.
Bill Gates, head of Microsoft, was overtaken by supermarket boss S. Robson Walton as the world's richest man, according to the survey.
Walton, head of the family that runs the Wal-Mart empire, is worth 65.4 billion dollars, while Gates saw his fortune plunge to 54.2 billion dollars.
Li Ka-shing remains Hong Kong's richest citizen, ahead of two other Hong Kong representatives in the top 50.
The Kwok brothers - Walter, Thomas and Raymond - of Sun Hung Kai Properties of Hong Kong fell from 37th to 40th, although their wealth remained steady at 68 billion HK dollars (US$8.7 billion).
They managed to overtake Lee Shau-kee, chairman of Henderson Land Development, who fell to the 42nd place with 64 billion HK dollars (US$8.2 billion).
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