Who is Asia's richest self-made entrepreneur?
MANILA, Philippines - Who is Asia's richest self-made entrepreneur?
Hong Kong tycoon Li Ka-Shing is the wealthiest self-made entrepreneur in Asia with an estimated net worth of $29.4 billion, according to Wealth-X.
The 85-year-old Li took the top spot on Wealth-X's top 10 list of richest entrepreneurs in the region.
Li is the founding chairman of Cheung Kong Holdings, and made most of his fortune through property investments. He is also considered as Asia's richest man.
Wealth-X, the world’s leading ultra high net worth intelligence firm, said the top 10 list included 7 businessmen from Hong Kong and mainland China.
The 10 businessmen's combined wealth is $169.9 billion as of March 31, 2014, 52 percent higher than the combined wealth of the entrepreneurs on last year's list.
"Asia is still at the early stages of a 150-year cycle of wealth creation, and we expect wealth in the region will be extremely dynamic in the years to come. China will continue to dominate the Asian economic landscape," Wealth-X CEO Mykolas Rambus said.
Second on Wealth-X's list is Hong Kong real estate tycoon Lee Shau Kee, who owns Henderson Land Development, with estimated net worth of $22.8 billion.
Asia's third richest self-made entrepreneur is Lui Che Woo, who owns conglomerate K. Wah Group, with $21.1 billion, followed by Chinese billionaire Wang Jianlin, who owns Dalian Wanda Group, with $16.6 billion.
Japanese tycoon Masayoshi Son, who owns communications giant Softbank Mobile, is fifth on the list with $16.4 billion net worth.
Sixth on the list is Hong Kong's Kuok Group founder Robert Kuok with a net worth of $15 billion, followed by India's Dilip Shanghvi, owner of Sun Pharmaceuticals, who is estimated to have a net worth of $13.5 billion.
Ranking 8th on Wealth-X's list is Ma Huateng of China's Tencent Holdings with a net worth of $13.2 billion, followed by Thailand beverage tycoon Charoen Sirivadhanabhakdi with $11.3 billion and China's Li Hejun of Hanergy with $10.6 billion.