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Yahoo! My Yahoo! Mail More Yahoo! Services Account Options New User? Sign Up Sign In Help Yahoo! Search web search Home Singapore Asia Pacific World Business Entertainment Sports Technology Australia China India Indonesia Japan Malaysia Philippines Thailand Vietnam Hong Kong tycoons' wealth soars: Forbes AFP - 2 hours 5 minutes ago Send IM Story Print Hong Kong tycoons' wealth soars: Forbes HONG KONG (AFP) - – Hong Kong's tycoons are worth a combined 135 billion US dollars, with many of its wealthiest people boosting their fortunes from investments on the Chinese mainland, Forbes said Thursday. The top 40 richest people have added 82 billion dollars to their wealth over the past year, much of it due to a stock market recovery and soaring property prices in Hong Kong and China. Li Ka-shing, the 81-year-old head of conglomerate Cheung Kong Holdings, was once again the financial hub's richest person with a 21.3 billion dollar fortune, according to the annual list compiled by Forbes business magazine. Forbes in November ranked Li as the 16th wealthiest person in the world when his net worth was just 16.2 billion dollars. Li had fared particularly well from Hong Kong's soaring property prices. He was the only one of the city's tycoons to make the top 25 world ranking list, which placed Microsoft founder Bill Gates as the globe's richest person with a 40 billion dollar fortune. Li's son Richard was in 26th on the Hong Kong list with 1.3 billion dollars. Henderson Land chief Lee Shau-kee, 82, grabbed second spot with 19 billion dollars owing to his company's soaring share price, the magazine said. Following were property giants the Kwok family at 17 billion dollars, developer Cheng Yu-tung with seven billion dollars, and real estate magnate Joseph Lau at six billion dollars, the magazine said. Macau casino tycoon Stanley Ho, 88, took 17th spot with a 2.1 billion dollar fortune. Twenty-four people on the list bumped their net worth by at least 50 percent from a year ago and not one grew poorer, Forbes said. No women were listed, although there was at least one heiress to a top 40 fortune. Forbes said it compiled its list based on shareholding and financial information gleaned from stock exchanges, analysts and the tycoons themselves. The combined wealth of all 40 tycoons falls short of the record 179 billion dollar treasure chest the magazine recorded in 2008. Recommend Send IM Story Print Related Articles Sri Lanka leader says Tamils should work with govt AP - 43 minutes ago Report: NKorea fires director of Kim's finances AP - 1 hour 8 minutes ago Tainted milk shows China's food safety challenges AP - 1 hour 30 minutes ago Obama vows to get tough with China on currency Reuters - 1 hour 40 minutes ago Japan ruling-party heavyweight likely to dodge funds probe AFP - 1 hour 49 minutes ago News Search Top Stories New US export strategy eyes Asia Fury heats up after new AIG bonuses In new term, Bernanke calls for Fed to stay independent New technique helps search for another Earth Iran leader's nuclear comments surprise West More Top Stories » ADVERTISEMENT Most Popular Most Viewed Fury heats up after new AIG bonuses Jackson doctor 'ready to surrender to police' Low serotonin linked to infants' sudden cot death: study Scientists 'grow' edible insects in Costa Rica New technique helps search for another Earth More Most Viewed » More Most Recommended » Elsewhere on Yahoo! Financial news on Yahoo! Finance Stars and latest movies Best travel destinations More on Yahoo! News Home Singapore Asia Pacific World Business Entertainment Sports Technology Subscribe to our news feeds Top StoriesMy Yahoo!RSS » More news feeds | What are news feeds? Also on Yahoo Answers Groups Mail Messenger Mobile Travel Finance Movies Sports Games » All Yahoo! Services Site Highlights Singapore Full Coverage Most Popular Asia Entertainment Photos Copyright © 2010 Yahoo! Southeast Asia Pte. Ltd. (Co. Reg. No. 199700735D). All Rights Reserved. Terms of Service | Privacy Policy | Community | Intellectual Property Rights Policy | Help

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