Bloomberg Billionaires Index

View profiles for each of the world’s 500 richest people, see the biggest movers, and compare fortunes or track returns.

#159 Pollyanna Chu $8.97B

Random fact: Was a U.S. property investor before returning to Hong Kong in 1992.

Overview

Chu is the co-founder and largest shareholder of Kingston Financial Group, a brokerage, securities underwriting and asset management firm. The Hong Kong-traded company had revenue of HK$2.9 billion ($371 million) in the year to March 31, 2017. She also owns a stake in luxury watch retailer Sincere Watch Hong Kong.

As of Nov. 23, 2017:
Last change +$98.0M (+1.1%)
YTD change +$4.69B (+109.7%)
Industry Finance
Biggest asset 1031 HK Equity
Citizenship Hong Kong
Age 59
Wealth Self-made
View net worth over:   Max 1 year 1 quarter 1 month 1 week

Relative Value

Pollyanna Chu's net worth of $8.97B can buy ...

0
troy ounces of gold
0
barrels of crude oil

... and is equivalent to ...

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of the GDP of the United States
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of the total wealth of the 500 richest people in the world
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of the top 100 U.S. college endowments
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of the top 200 U.S. executives’ total awarded compensation
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of U.S. existing home sales
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times the median U.S. household income

Latest News

Net Worth Summary

Cash
Private asset
Public asset
Misc. liabilities
Confidence rating:

The majority of Chu's fortune is derived from her stake in financial services firm Kingston Financial. She owns about 63 percent of the publicly traded group through three holding companies, including British Virgin Islands-registered Sure Expert, according to an April 27, 2015 Hong Kong stock exchange filing. 

Her other assets include 3.75 billion convertible preference shares of Kingston Financial Group conferring rights to cash or shares at the conversion price of HKD$0.80, according to the company's annual report for the year to March 31, 2016.

Chu also owns 72 percent of Synergis Holding, 12 percent of Sincere Watch Hong Kong, 15 percent of Good Resources Holding and 1 percent of China Agri-Products Exchange, according to Hong Kong stock exchange filings.

Jovanni Cai, a spokeswoman of Kingston Securities, declined to comment on the net worth figure.

Biography

Birthdate: 8/1958
Family: Married, 2 children

Chu was born in Hong Kong in August 1958. She moved to San Francisco at 18 and obtained a Bachelor of Science degree in Management from Golden Gate University. Together with her husband, Nicholas Chu, she worked as a real estate investor in San Francisco before deciding to return to Hong Kong in 1992.

The billionaire and her husband set up Kingston Group, which offers financial services, the following year. The firm became a prominent player in Hong Kong's financial market as it carved out a niche offering underwriting and margin and initial public offering financing services for small and medium-sized firms.

Chu was awarded shares of watchmaker Medtech Group in 2005, after Kingston Financial brokered Medtech's deal to buy a Macau hotel. Medtech Group was renamed Golden Resorts Group later that year, as it acquired two more Macau hotels. Chu's Kingston Financial went public in 2011 via a reverse merger with Golden Resorts Group. The new listed entity, renamed Kingston Financial Group, has business interests in financial services and in casino and hotels management.

Chu also acquired Hong Kong-listed Singapore luxury watch retailer Sincere Watch in 2012, but she sold off most of her stake in the business three years later. Her son, Kingston Chu, is vice chairman at Sincere Watch.

Milestones
  • 1958 Chu is born in Hong Kong
  • 1976 Moves to San Francisco for school at 18.
  • 1992 Returns to Hong Kong from San Francisco.
  • 1993 Founds Kingston Group, which is named after her son.
  • 2009 Helps finance Carson Yeung's big to take over Birmingham City football club.
  • 2011 Kingston Financial goes public in Hong Kong via a backdoor listing.
  • 2012 Acquires Sincere Watch Hong Kong.
  • 2015 Sells majority of stake in Sincere Watch.