Tycoons Call for Calm After Hong Kong Protests Hit Fortunes
- Groups place newspaper ads warning against collapse of economy
- Unrest has wiped out billions of dollars in market value
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Hong Kong’s corporate elite have come off the sidelines to oppose the violent protests that have disrupted businesses in the city and slashed billions of dollars off their market value.
In full- and half-page newspaper advertisements Wednesday and Thursday, conglomerates including those founded by 91-year-old Li Ka-shing, the city’s richest person, and Henry Cheng, who runs a property-to-jewelry empire, called for restoring order and rule of law. Some supported the city’s Beijing-backed authorities in their efforts to quell the unrest.