Bloomberg Billionaires Index

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#478 Edwin Leong $4.02B

Random fact: Father was a comprador of British trading house Jardine Matheson.

Overview

Leong is founder and chairman of Tai Hung Fai Enterprise, one of Hong Kong's largest retail landlords. The closely held real estate developer owns 309 retail stores, three hotels and four serviced apartment buildings, as well as dozens of offices, industrial properties and shopping malls. The company employs about 300 people and has more than 1,000 tenants.

As of July 22, 2017:
Last change No change
YTD change No change
Industry Real Estate
Biggest asset Tai Hung Fai Enterprise
Citizenship Hong Kong
Age 65
Wealth Self-made
View net worth over:   Max 1 year 1 quarter 1 month 1 week

Relative Value

Edwin Leong's net worth of $4.02B can buy ...

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of the total wealth of the 500 richest people in the world
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of U.S. existing home sales
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Latest News

Net Worth Summary

Cash
Private asset
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Confidence rating:

Leong's wealth is mostly derived from his closely held Tai Hung Fai Enterprise, a real estate investment company engaged in hotels, retail, commercial, residential and industrial properties. The group owns 309 retail stores, three hotels and four serviced apartment buildings, as well as dozens of offices, industrial buildings and shopping malls in Hong Kong.

Tai Hung Fai's property assets include Hotel Indigo Hong Kong Island, Holiday Inn Express Hong Kong, the Grande Building and Kadoorie Lookout, and have a net value of $3.9 billion, according to Leong, who discussed the business in a July 2016 Bloomberg News interview.

Biography

Birthdate: 12/4/1951
Family: Married, 1 child
Education: University of British Columbia/The, Bachelor's Degree University of Toronto, Master's Degree

Leong was born into a wealthy family in Hong Kong. He's the sixth son of Henry G. Leong, a Hong Kong comprador of British trading house Jardine Matheson. At age 9, Leong’s father died and his mother was left to raise him on her own. He still dines with her every evening.

Upon completing his studies in Canada, Leong returned to Hong Kong and worked in banking for less than two years before establishing Tai Hung Fai Enterprise. The company’s initial focus was on foreign-exchange trading until the Asian financial crises hit and Leong decided to put all his investments into Hong Kong real estate in 1998.

As property prices were tumbling 70 percent, Leong was busy accumulating retail shops. He purchased dozens of stores all over Hong Kong and picked up the moniker "King of Shops." After his success in the retail sector, Leong expanded Tai Hung Fai into office buildings, industrial and residential property as well as hotels. The company now has about 300 employees and more than 1,000 tenants.

The billionaire graduated with a bachelor’s degree from the University of British Columbia and holds a master’s degree from the University of Toronto. He lives in Hong Kong with his mother, his wife and daughter.

Milestones
  • 1951 Edwin Leong is born in Hong Kong.
  • 1973 Graduates with a bachelor's degree from the University of British Columbia.
  • 1974 Earns a master's degree from the University of Toronto.
  • 1977 Establishes Tai Hung Fai Enterprise as investment company.
  • 1998 Begins investing in Hong Kong real estate.
  • 2007 Supported tuition fees and living expenses for 550 students.
  • 2013 Establishes Tai Hung Fai Charitable Foundation.
  • 2016 Explores the possibility of an initial public offering for Tai Hung Fai.