Bloomberg Billionaires Index

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#494 Ronald McAulay $4.06B

Random fact: Trustee of the Tate Foundation in London.

Overview

McAulay is a shareholder of CLP Holdings, Hong Kong's biggest power supplier, which also has customers in China, Taiwan, India and Southeast Asia. He controls the publicly traded company with his brother-in-law Michael Kadoorie. The pair also owns shares in Hongkong & Shanghai Hotels, which operates the Peninsula chain.

As of Oct. 17, 2017:
Last change +$961k (+0.0%)
YTD change +$463M (+12.9%)
Industry Energy
Biggest asset 2 HK Equity
Citizenship Hong Kong
Age 81
Wealth Inherited
View net worth over:   Max 1 year 1 quarter 1 month 1 week

Relative Value

Ronald McAulay's net worth of $4.06B 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 McAulay's wealth is derived from his 10 percent stake in CLP Holdings, Hong Kong's biggest electricity producer. He owns the shares through trusts, one of which he shares with his brother-in-law Michael Kadoorie. McAualay left the board of CLP Holdings on Oct. 1, 2016 and his shareholding is not disclosed in the 2016 annual report. It's calculated here to be unchanged from the amount provided in the 2015 report based on the holdings of his trusts, as disclosed in the 2017 interim report.

He also owns about 11 percent of Hongkong & Shanghai Hotels, which operates 10 Peninsula Hotels in Asia, the U.S. and Europe, according to the 2016 annual report.

The value of McAulay's cash investments is based on an analysis of dividends, insider transactions, taxes and market performance.

Justine Lau, a CLP spokeswoman, didn't respond to a request for comment on McAulay's holdings and net worth in September 2017.

Biography

Birthdate: 10/1935
Family: Married, No children
Education: University of Glasgow, Master's Degree

Ronald McAulay was born in October 1935 and graduated from the University of Glasgow with a Masters of Arts degree. He's also a member of the Institute of Chartered Accountants in Scotland. He later married Rita Kadoorie, a third-generation child of the wealthy Kadoorie clan, a Hong Kong-based Jewish family with roots in Baghdad, Iraq.

Rita's grandfather Elly Kadoorie and his younger brother Ellis first came to the Far East in 1880. The duo moved to Hong Kong to work for E. D. Sassoon and Co., a company run by another Mesopotamian Jewish family. Elly purchased 25 shares of the Hongkong Hotel Co. in 1890, and the company acquired 85 percent of Shanghai Hotels in 1922, changing its name to the Hongkong & Shanghai Hotels.

Elly moved his business and family to Shanghai in 1911, shortly before World War I. His wife died in a fire that destroyed their first home in 1919, and the family built a second home -- the Marble Hall -- which still stands today.

He returned to Hong Kong to start a brokerage business in 1948. The family made a fortune through finance, property and utilities. They accumulated a stake in what was then called China Light & Power, and eventually became the controlling shareholder of the electricity provider. The company later became CLP Holdings.

McAulay was appointed to the board of CLP Holdings in 1968 at the age of 32. Four years later, he became a board member of the Hongkong & Shanghai Hotels.

He supports causes including medical research and the arts, and is a trustee of the Tate Foundation and the Victoria and Albert Museum in London. Son Andrew is chairperson of Kadoorie Farm and Botanic Garden, set up in Hong Kong in 1945 to provide agricultural aid to farmers.

Milestones
  • 1968 Joins board of the holding company of the CLP Group.
  • 1972 Becomes board member of the Hongkong & Shanghai Hotels.
  • 1988 Hotel company opens The Peninsula New York.
  • 1991 The Peninsula Beverly Hills opens.
  • 1998 CLP Holdings is formed after company reorganization.
  • 1999 Establishes Ronald and Rita McAulay Foundation
  • 2002 CLP enters India through acquisition of Gujarat Paguthan Energy.
  • 2013 The Peninsula Hong Kong celebrates 85th year after $58 million makeover.