Top News

Of these, three are the founding families of the city’s legendary “big four” property developers, with one ranking in the region’s top five, according to a list by Bloomberg.

Kwok family – Sun Hung Kai Properties

The Kwok family behind property developer Sun Hung Kai Properties holds a fortune estimated at $50.2 billion as of March 27, 2026, making them Asia’s third-richest family.

SHKP, which makes up most of their fortune, is one of Hong Kong’s “big four” property developers. It was established in the 1960s by the late tycoon Kwok Tak Seng and went public in 1972.

The business later passed to his three sons, Walter, Thomas and Raymond Kwok, who initially managed it together before a dispute in 2008 ousted Walter as chairman. Raymond now serves as both chairman and managing director.

The developer posted net profit of $1.3 billion for the six months ending December 2025, marking a 36.2% increase year-on-year. It said in late February that it plans to launch several residential projects in Hong Kong within the next 10 months, according to the South China Morning Post.

Cheng family – New World Development and Chow Tai Fook

Henry Cheng Kar-shun (R), chairman of family flagships Chow Tai Fook Jewellery Group and New World Development, and his son Adrian Cheng Chi-kong attend a press conference in Hong Kong, China, Sep. 21, 2016. Photo by Imaginechina via AFP

The Cheng family’s flagship New World Development, one of the big four developers, and its Chow Tai Fook Jewellery Group are led by second-generation chairman Henry Cheng.

The family’s rise began with Cheng Yu Tung, who opened a small gold shop in the 1940s before branching into property in the 1970s. After his passing in 2016, Henry took over the reins of the business.

New World has grappled with debt in recent years, during which Adrian Cheng, Henry’s son and once his heir apparent, resigned as CEO.

Even so, the family’s fortune has increased over the past year, driven largely by a rise in shares of Chow Tai Fook as gold prices climbed.

Other holdings include Rosewood Hotel Group, infrastructure arm CTF Services and private investment unit Chow Tai Fook Enterprises.

The Chengs’ wealth is estimated at $28 billion, ranking 11th in Asia.

Lee family – Henderson Land Development

The Lee family behind another big four developer, Henderson Land Development, ranks just one spot below the Chengs with $26.1 billion in wealth.

Henderson was founded by the late Lee Shau Kee, who relocated from China’s Guangdong province to Hong Kong in his twenties to pursue business opportunities. He started out in gold and foreign exchange trading before shifting his focus to property.

The patriarch passed away last March at age 97, with his business empire inherited by his two sons, Peter and Martin Lee. The brothers had already taken the reins at Henderson years before that in a smooth transition that the family had spent decades preparing for.

Beyond property, the family’s holdings also feature Hong Kong and China Gas Company, or Towngas, which recently launched the city’s first hydrogen-powered EV charging system for a commercial building, as reported by The Standard.

Pao/Woo family – Wheelock and BW Group

Peter Woo, front, Chairman of The Wharf (Holdings) Limited and Wheelock and Company Limited, and his son Douglas Woo attend a press conference in Hong Kong, China, October 24, 2013. Photo by Imaginechina via AFP

Pao Yue-kong launched his shipping career in 1955 with the acquisition of his first vessel and expanded to a fleet of more than 200 ships by 1979, which was the world’s largest independently owned bulk-shipping fleet at the time.

Part of the family’s wealth is linked to Hong Kong property developer Wheelock and Company, led by his grandson Douglas Woo, who was born to Pao’s daughter Bessie and former Wheelock chairman Peter Woo, according to Forbes.

A separate branch of the family established shipping giant BW Group, chaired by another grandson, Andreas Sohmen-Pao.

BW Group has recently come under pressure from trade disruptions and geopolitical tensions.

Revenue at its tanker unit Hafnia fell more than 30% year-on-year to $1.1 billion in the first nine months of last year while net profit dropped by about 66% to $219 million. Its liquefied petroleum gas shipping arm, BW LPG, reported a similar decline in earnings for the same period.

The family’s fortune is worth an estimated $24.4 billion, ranking them right behind the Lees of Henderson Land.

Kadoorie family – CLP Holdings

Michael Kadoorie, chairman of CLP Holdings and Hongkong and Shanghai Hotels. Photo from company website

Elly Kadoorie and his elder brother Ellis Kadoorie came to Hong Kong in the 1880s to work for the Sassoon family, a prominent trading clan within the city’s Baghdadi Jewish diaspora. They later struck out on their own, founding a brokerage and building a diversified portfolio spanning banking, property and power generation.

Among the family’s main assets are CLP Holdings, which supplies electricity to Kowloon and the New Territories, and Hongkong and Shanghai Hotels, a global luxury chain that includes the Peninsula Hotels.

Elly’s grandson Michael serves as chairman of both companies, while his son Philip sits on both boards.

The Kadoorie family holds $19.2 billion in wealth, placing it 17th in Asia.