Chow Shing Yuk, cofounder and chairman of Lalatech. Courtesy of Lalatech Chow Shing Yuk, a former professional poker player who studied economics at Stanford University, has joined the billionaire ranks, but not because he drew a lucky hand. Over the past decade, Chow, 44, has steadily built Lalamove into a logistics and delivery giant from […]
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Shan Weijian, chairman of PAG, poses for a photograph in Hong Kong in 2017. Anthony Kwan/Bloomberg Hong Kong-based China dealmaker Weijian Shan, cofounder and chairman of PAG, one of Asia’s largest private equity firms, has joined the billionaire ranks. Shan, 69, is one of the few private equity mavens in Hong Kong, where real estate […]
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Baidu CEO Robin Li introduces the functions of Ernie Bot during an event in Beijing on March 16, … [+] 2023. AP Photo/Ng Han Guan Shares of billionaire Robin Li’s Baidu, which tumbled 6.4% on Thursday on disappointment over the launch of its ChatGPT-like service, surged almost 14% Friday as some analysts who tried Ernie […]
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In this 2017, file photo, a Twitter page of Chinese exiled real estate tycoon Guo Wengui is seen on … [+] a computer screen in Beijing. (AP Photo/Andy Wong, File) Copyright 2017 The Associated Press. All rights reserved. The U.S. Attorney’s Office in New York today charged exiled Chinese businessman Guo Wengui with defrauding thousands […]
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Masatoshi Ito KIMIMASA MAYAMA/BLOOMBERG Japanese billionaire Masatoshi Ito, who helped build 7-Eleven into a global giant, died on Friday at the age of 98. Ito’s company, Seven & i Holdings, which owns the 7-Eleven chain, said in a statement on Monday that he died of old age. At the time of his death, Ito was […]
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A general view of the opening session of the National People’s Congress (NPC) at the Great Hall of the People in Beijing on March 5, 2023. NOEL CELIS/AFP via Getty Images China set its 2023 economic growth target at around 5%, a target more modest than some had previously projected as the nation’s leadership takes […]
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Topline Twitter has laid off more than 200 staffers, including some top executives who had risen up the ranks after Elon Musk’s takeover of the company, according to reports, weeks after the firm’s billionaire owner and CEO said he was working to “stabilize the organization.” A view of Twitter’s logo at Twitter Headquarters in San […]
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Alibaba cofounder Jack Ma. Wang HE/Getty Images Billionaire Jack Ma is back to square one. The $3.4 billion gain to his wealth since the start of the year has all but evaporated, after Alibaba’s stock was dragged lower on renewed worries over the company’s growth prospects The globe-trotting Ma, who stepped down from the helm […]
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Kwek Leng Beng, chairman of City Developments Ltd., speaks during a news conference in Singapore, on … [+] August 11, 2017. Nicky Loh/Bloomberg City Developments Ltd. (CDL)—controlled by billionaire Kwek Leng Beng—posted its highest-ever net profit in 2022 as its hotels benefitted from a post-pandemic rebound in travel demand and the developer booked robust sales […]
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This story appears in the February/March 2023 issue of Forbes Asia. Subscribe to Forbes Asia Bloomberg Finance L.P. This story is part of Forbes’ coverage of Hong Kong’s Richest 2023. See the full list here. Hong Kong rich list ss Hong Kong’s economic growth is set to accelerate this year as the city jettisons Covid-19 […]
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This story appears in the February/March 2023 issue of Forbes Asia. Subscribe to Forbes Asia ss This story is part of Forbes’ coverage of Hong Kong’s Richest 2023. See the full list here. ss Hong Kong-based shipping mogul Helmut Sohmen’s wealth increased 53% to $5.5 billion amid soaring demand for maritime services offered by over […]
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This story appears in the February/March 2023 issue of Forbes Asia. Subscribe to Forbes Asia Ore Huiying/Bloomberg This story is part of Forbes’ coverage of Hong Kong’s Richest 2023. See the full list here. Private equity billionaire Jean Salata is the biggest gainer in percentage terms this year, thanks to a blockbuster $6.7 billion deal […]
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This story appears in the February/March 2023 issue of Forbes Asia. Subscribe to Forbes Asia Jocelyn Tam for Forbes Asia This story is part of Forbes’ coverage of Hong Kong’s Richest 2023. See the full list here. ss Horst Julius Pudwill, cofounder and chairman of power tools and floor-care products maker Techtronic Industries, saw his […]
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Pinduoduo founder Colin Huang (Photo by Qilai Shen/Bloomberg) © 2017 Bloomberg Finance LP E-commerce giants JD.com and Pinduoduo are on the cusp of a new price war, with the former pledging more than $1 billion in fresh subsidies to win over budget shoppers. But concerns over stepped-up competition and thinning margins has prompted many investors […]
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Topline Billionaire Red McCombs, the businessman best known for his Texas-centric philanthropic efforts and various sports investments, died Sunday at the age of 95, his family announced in a statement Monday. Red McCombs, pictured here in 2017, is the namesake of University of Texas, Austin’s school of … [+] business. Icon Sportswire via Getty Images […]
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A scion of Malaysia’s richest family, Kuok Meng Ru transformed his love of classic rock and blues into a music empire. Looking ahead, his music production app BandLab aims to help everyone create songs for free. Kuok Meng Ru, founder and CEO of Caldecott Music Group, believes AI-generated instrumentals are one component to “empowering and […]
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The skyline of financial and business center are seen in the background as people paddle surf along … [+] East Coast Park beach, among Singapore’s prime residential estates. July 17, 2020. ROSLAN RAHMAN/AFP via Getty Images A joint venture between UOL Group and Singapore Land—both controlled by billionaire Wee Cho Yaw—is buying the Meyer Park […]
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OpenAI logo seen on screen with ChatGPT website displayed on mobile seen in this illustration, on January 8, 2023 in Brussels, Belgium. (Photo illustration by Jonathan Raa/NurPhoto via Getty Images) NurPhoto via Getty Images China’s internet companies are racing to develop their own versions of ChatGPT-style services amid the global frenzy around the conversational AI […]
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Huang Ping, the Chinese consul general in New York, rang the opening bell at the Nasdaq on Jan. 25. Courtesy of Nasdaq In 2019, the year before Covid upended global travel and business, the Nasdaq attracted 33 listings from Asia-Pacific companies. All but five were from China, underscoring the country’s heft as the world’s No. […]
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A woman walks down a flight of stairs at the Shenzhen Stock Exchange in 2019. Photographer: Qilai … [+] Shen/Bloomberg © 2019 Bloomberg Finance LP Today’s listing at the Shenzhen Stock Exchange by Greenworks (Jiangsu), a supplier of home, yard and do-it-yourself tools, has minted a new billionaire. Chairman Chen Yin holds a stake of […]
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Robin Li Yanhong, chairman and CEO of Baidu, speaks at the opening ceremony of 2021 World Artificial Intelligence Conference (WAIC) at Shanghai World Expo Center on July 8, 2021 in Shanghai, China. Wu Jun/VCG via Getty Images Chinese billionaire Robin Li’s search giant Baidu has confirmed plans to roll out a ChatGPT-style service, triggering an […]
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Getty Despite a jittery stock market, shares of South Korean biotechnology company Caregen tripled over the past year, making its founder and CEO, Chung Yong-ji, a billionaire—the first entrepreneur in seven months to join the country’s three-comma club. Chung, who turns 53 later this month, is the largest shareholder of Caregen, with a nearly 64% […]
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Roberto Ongpin was chairman of Alphaland. Courtesy of Alaphaland Tycoon Roberto Ongpin—founder and chairman of Philippine real estate developer Alphaland—died peacefully on Saturday at age 86. Ongpin died in his sleep at his resort on Balesin Island, his nephew, Rafael Ongpin, said in a Facebook post over the weekend. The exclusive 500-hectare members-only tropical island, […]
Read MoreZhonglu Group Vice Chairman George Wang, third from the right, attended the ringing of the opening … [+] bell at the Nasdaq to mark the Lunar New Year on Jan. 25. Courtesy of Nasdaq China’s economic growth and overseas fundraising are poised to rise this year as the country moves beyond the worst of the […]
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