Kwok family No:29 Billionaire 2009
by saranya[ Edit ] 2010-03-08 15:49:34
Net Worth:$10.5 bil
Country Of Citizenship:Hong Kong
Family behind one of Hong Kong's most storied real estate firms was thrown into tumult even before property prices tumbled. Eldest brother Walter stepped down from 18-year chairmanship of Sun Hung Kai Properties last May after disputing with his 2 younger siblings, Raymond and Thomas. Mother Kwong Siu-hing, 80, took over as chairman. Stock down 50% in past year. Firm still pushing ahead: opened a W hotel in Hong Kong in January and has plans to open another in Shanghai by 2010. In late-February sold 150 luxury apartments in its Kowloon residential development, generating $450 million in revenue. Family also owns interests in telecom SmarTone-Vodafone and city bus operator KMB.