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Beauty queen Karmen Kwok sells luxury penthouse gifted by billionaire Richard Li, son of Hong Kong’s richest man Li Ka-shing, at loss
Sandy Verma | March 24, 2026 6:24 AM CST

The luxury apartment was a gift from Li during their high-profile relationship. While the property was initially purchased for HK$130 million (US$16.59 million), Kwok reportedly offloaded it for just HK$78.4 million, Yule 360 reported.

The unit has roughly 2,188 square feet (203 sqm) and features a four-bedroom layout with two en-suites. It also includes a private rooftop and swimming pool area totalling about 1,855 square feet. The reported transaction price equates to around HK$35,832 per square foot, according to Dimsum Daily.

Former Miss Hong Kong 2015 runner-up Karmen Kwok. Photo by Instagram/@karman_kkm

Born in 1992, Kwok rose to prominence after finishing as the second runner-up of the 2015 Miss Hong Kong. After that, she signed a contract with TVB and launched a professional acting career.

However, her professional ambitions quickly took a back seat as her romance with Li became the center of media attention, as she often appeared on the news and social media.

The couple frequently traveled abroad together and officially made their relationship public in 2017, the same year Li bought the Kowloon Tong penthouse under Kwok’s name.

Following the publicized relationship, Kwok withdrew from film and television entirely to focus on building a life with the billionaire. During this period, she was a regular companion by his side at charity events and exclusive high-society gatherings.

However, the couple parted ways a few years later. Reports indicated that the split occurred as Li got his eyes on Serene Lim, the runner-up of the 2016 Miss International China.

Since the breakup, the former beauty queen has transitioned to a much more modest lifestyle.

Stepping away from her previously glamorous life, Kwok now earns an income by livestreaming and selling goods. She has openly shared with her followers that she now prefers purchasing affordable, practical items rather than the expensive designer brands she favored in the past.

Richard Li, 59, has an estimated net worth of US$6.2 billion and was ranked 17th on Forbes’ Hong Kong rich list as of March 22. His father, Li Ka Shing, is the city’s richest man with US$46.2 billion in wealth.


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