Many of the region’s richest people earn their spot on Asia’s Most Influential by using their money for good
As Forbes releases its annual World’s Billionaire List, we take a look at some of the richest honourees of Asia’s Most Influential, many of whom have built their fortunes from the ground up to become the multibillionaires who now dominate various industries in the region. Lee Shau-kee had less than HK$1,000 when he first came to Hong Kong and from there built one of the leading property developers in the market. Similarly, a young Manuel Villar helped his mother sell fish to support his education, which, in turn, put him on a path to becoming the richest man in the Philippines.
The tremendous success of these Asian billionaires is a source of inspiration, but their massive wealth also highlights the disparity between the richest and poorest of the world. Oxfam’s January 2024 report on inequality indicates how the world’s richest one per cent own 43 per cent of all global financial assets. And since 2020, “the five richest men in the world have seen their fortunes more than double, while almost five billion people have seen their wealth fall”.
Asia’s Most Influential billionaires recognise the divide and have used their fortunes to help bridge the gap. While they support a range of causes, most have concentrated their focus on education, pouring millions into scholarships, grants and loans to help young people gain the critical skills that can help them rise above poverty.
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Li Ka-shing, US$37.3 billion (Hong Kong)
Li Ka-shing, the former chairman of CK Hutchison Holdings and CK Asset Holdings, is the wealthiest billionaire on Asia’s Most Influential list and in Hong Kong. The 38th-richest person in the world grew his US$37.3 billion-fortune from interests in real estate, ports, infrastructure, telecoms, retail and more. Though retired, he continues to spread his influence with the Li Ka Shing Foundation, the second-largest private philanthropic foundation in the world. The philanthropist has invested over HK$30 billion in education, medical services, charity and anti-poverty programmes through the years.
