Li Ka-shing tops Forbes Hong Kong rich list for 21st year in a row

Business tycoon Li Ka-shing has topped Forbes's Hong Kong rich list once again this year, making him the richest person in the city for 21 years in a row.

Hong Kong tycoon Li Ka-shing speaks during a press conference to announce the company's annual results in Hong Kong, Friday, March 16, 2018. [File Photo: AP]

Li kept his top spot with his fortune worth 31.7 billion U.S. dollars, according to the 2019 Forbes Hong Kong's Richest list that was released this week.

Nicknamed the "Superman", Li Ka-shing is considered one of the most influential business people in Asia. Last May, he retired from the role of chairman of his Cheung Kong conglomerate, but remains a senior adviser to the group.

Lee Shau Kee, the chairman of Henderson Land Development, kept his number two spot on the Forbes list this year with a net worth of 30 billion U.S. dollars.

Oyster sauce tycoon Lee Man Tat made an impressive advance up the ranking, climbing eight spots to number three with a net worth of 17.1 billion U.S. dollars, up 8.6 billion U.S. dollars from last year.

Forbes reports that 23 tycoons suffered a decline in wealth due to the headwinds in the global economy, while 20 managed to buck the downwards trend to see their fortune increased.