Lui Che-Woo is Asia’s Richest Man

According to the Bloomberg Billionaires Index, the founder of Galaxy Entertainment Group Ltd, Lui Che-Woo, has become Asia’s richest man by surpassing former title holder and Hong Kong real estate investor Li Ka-Shing.

Lui’s estimated net worth has risen recently by $3.5 billion to reach this month a total of $29.6 billion, which puts him ahead of his rival by merely $100 million. Li had held the title of richest man in Asia since April 9th of 2012 when he surpassed Indian billionaire Mukesh Ambani.

Lui holds a 51% stake in Galaxy Entertainment which is Asia’s third largest casino operator (by revenue). Galaxy’s shares rose 129% in 2013.

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