Li Ka-shing is Hong Kong's richest man, Forbes says

The total net worth of Hong Kong's 40 richest people swelled to US$135 billion, up from US$82 billion a year ago, the magazine said. Not one list member is poorer, it said.

Still, the list members' combined wealth remains below its 2008 high of US$179 billion. Li Ka-shing's fortune is less than the magazine's US$32 billion estimate of his wealth in 2008.

Over a dozen of Hong Kong's 40 richest people have “substantial” real estate investments in China, the magazine said.

Eight newcomers made the list including Allan Wong, cofounder of Vtech Holdings Ltd., the maker of cordless phones and electronic education toys; Tang Hsiang Chien, father of Hong Kong's chief secretary for administration, Henry Tang; and Harindarpal Banga, Noble Group Ltd. vice chairman.

Li, 81, is dubbed “Superman” by Hong Kong's media because of his track record for investing. He correctly predicted in 2007 that China's stock market was in a “bubble.” His fortune was estimated at US$16.2 billion by Forbes magazine in March 2009.

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