Several billionaires linked to Macau’s gaming industry have slipped in the latest wealth rankings from U.S.- based magazine Forbes

 

  The ‘Forbes’ announced the ranking of the global billionaires in 2020. Sheldon Adelson the founder, chairman and chief executive officer of the Las Vegas Sands Corp ranks 28th, and although it is the only casino tycoon that can make it to the top 30, the ranking is down 4 places from last year. Another tycoon, the chairman of Galaxy Entertainment Group Limited , Che Woo Lui, who ranked second among all gambling tycoons, has a net worth of about US $ 11.7 billion this year, a decrease of about US $ 2.9 billion from last year. The ranking has also dropped from 82nd last year to 106th this year. As for the remaining gambling tycoons, MGM China Co-Chairman Chiu-king Ho and Philippines Bloomberry Resorts Corp Chairman Enrique Razon tied for 565th, with a net worth of approximately US $ 3.4 billion. Melco Chairman and CEO Lawrence Ho ranked 1,335 with a net worth of US $ 1.6 billion. According to last year’s ranking, Chiu-king Ho and his brother     Lawrence Ho ranked 413 and 1,008 in 2019, respectively. Chiu-king Ho was worth about US $ 4.6 billion last year, and Lawrence Ho was about US $ 2.3 billion. In addition, the founder of Wynn Resorts Limited Steve Wynn ‘s ranking rose to 648th from last year, and its net asset valuation also increased by approximately US $ 100 million to US $ 3.1 billion. For other gambling companies, Tan Sri Dr. Chen Lip Keong, CEO of NagaWorld , ranked No. 437 this year, with a net asset valuation of approximately US $ 4.1 billion. Australia’s ‘gambling king’ and the major shareholder of the Australian Crown Resorts Ltd (Crown Resorts Ltd), James Packer, ranked 908th with a net worth of US $ 2.3 billion. Malaysian Genting Group Chairman Lim Kok Thay ranked No. 1,063, with a net asset valuation of about US $ 2 billion.     According to ‘Forbes’ data, as of March 18 this year, there are 2,095 global billionaires with a net worth of more than 1 billion US dollars, which is 58 fewer than 2,153 last year. The total value of the richest assets on the list this year is roughly estimated at 8 trillion US dollars, about 700 billion US dollars less than in 2019. Among them, 51% of the rich have a shrinking net worth, reflecting the widespread spread of the COVID-19 epidemic in the world, which has a certain impact on the global stock market.

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