Lui Che Woo, Pansy Ho (middle) and Angela (right)
Forbes last week unveiled its latest list of the world’s wealthiest individuals, with few notable names tied to Macau’s gaming industry retaining their spots.
Lui Che Woo, founder and chairman of Galaxy Entertainment Group, came in at number 180 on the list, with a reported net worth of USD11.2 billion.
Pansy Ho, chair of both MGM China and Shun Tak Holdings, secured the 835th spot with $3.8 billion.
Another familiar Macau figure, Angela Leong, director of SJM and widow of casino magnate Stanley Ho, ranked 1,380th overall with an estimated $2.4 billion fortune.
Miriam Adelson, widow of late Las Vegas Sands founder Sheldon Adelson, also retained her standing among the international gaming elite. The Adelson family played a pivotal role in Macau’s rise as the gambling capital of Asia and their $32 billion net worth placed them at 53 on the Forbes list.
Meanwhile, Lawrence Ho, son of late casino legend Stanley Ho, was not on the list with a notable drop-off this year after appearing Hong Kong’s 50 Richest list for a decade.
Ho reaped a small gain from Vietnam’s electric vehicle maker Vinfast’s merger with his SPAC unit Black Spade in a $23 billion listing on Nasdaq last year.
But that was not enough to make up for the steep drop in the value of his biggest asset. Shares of casino giant Melco International Development roughly halved in the past 12 months amid a broader industry sell-off, according to the Forbes report.
China, which includes Macau and Hong Kong, retains its position as the world’s second wealthiest region.
However, the number of Chinese billionaires declined from 562 last year to 473 in the latest report.
This decrease suggests weaker economic conditions may be impacting the amassing of massive fortunes, though Macau-linked names remained atop China’s billionaire ranks and globally.
The presence of Macau-linked entrepreneurs in this year’s rankings underscores how the special administrative region remains integral to the expansion of individual and family fortunes in Asia’s casino hub.
As the world’s wealthiest individuals collectively grew $2 trillion richer according to Forbes, Macau’s tycoons maintained their multi-billion-dollar status. Staff Reporter
No Comments