⬅ # 186 David Duffield|# 188 Ernesto Bertarelli

# 187 Lui Che Woo 

$11.2B

Real Time Net Worth
as of 6/14/2024
$25.2M (0.22%)

# 187 Lui Che Woo 

$11.2B

Real Time Net Worth
as of 6/14/2024
$25.2M (0.22%)
OccupationFounder, Galaxy Entertainment Group; Founder & Chair, K. Wah International
Source of WealthCasinos/Hotels
Age95
ResidenceHong Kong, Hong Kong
Marital StatusMarried
Children5
Age-Adjusted Net Worth$1.05B
Lui Che Woo
Lui Che Woo
Hong Kong
Net worth: $11.2B

Self-Made Score 

Wealth History

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Biography

Business Career

Lui Che Woo, GBM, MBE, JP, was born on August 9, 1929, in Jiangmen, People's Republic of China.
Lui established the first K. Wah company in Hong Kong in the 1950s.
K. Wah has evolved into a multi-national conglomerate involved in gambling, property, entertainment & leisure, construction materials, and hotels.
In the 1960s, he expanded from construction materials to property investment.
The 1980s marked entry into hotel development, followed by expansion into mainland China in the next decade.
In 2002, he ventured into Macau's gaming business, becoming one of the six gaming concessionaires in Macau.
In May 2011, Galaxy Entertainment Group Limited opened the $2 billion Galaxy Macau casino and hotel.

Public Service

Lui was chair of the Tung Wah Group of Hospitals in 1981–1982.
He holds posts in various tertiary institutions, including the University of Hong Kong Foundation of Educational Development and Research, Chinese University of Hong Kong, Hong Kong University of Science and Technology, and Hong Kong Polytechnic University.
In December 2006, Lui was elected to the small-circle Election Committee for the Hong Kong Special Administrative Region selection process.
He has been a member of the Hong Kong Government's steering committee on MICE (Meetings, Incentives, Conventions, and Exhibitions) from 2007.

Philanthropy

In 1999, Lui provided funds for the Stanford University Medical Centre to set up Lui Che Woo Research Laboratory.
In 2002, the Lui Che Woo Awards for CUHK/Cornell Student Exchange Programme in Hospitality Management was established.
In 2012, a donation was made to the Chinese University of Hong Kong for the establishment of the Lui Che Woo Institute of Innovative Medicine.
In 2015, he pledged to donate HK$15.6 million to the Chinese University of Hong Kong to establish the Lui Che Woo Distinguished Young Scholars Award and the Lui Che Woo Distinguished Young Scholars Research Scholarship.
In 2015, marking K. Wah Group's 60th anniversary, Lui established the Lui Che Woo Prize – Prize for World Civilization, honoring and recognizing individuals or organizations for promoting positive life attitudes and enhancing positive energy.

Honorary Degrees and Awards

Lui has been conferred with honorary degrees from institutions like the University of Victoria, Chinese University of Hong Kong, University of Hong Kong, and Concordia University.
In 2005, he was awarded the degree of Doctor of Business Administration, Honoris Causa, by the Hong Kong Polytechnic University, and in 2016, the degree of Doctor of Social Sciences, Honoris Causa, by the University of Hong Kong.

Family Involvement

Lui's eldest son, Francis, oversees Galaxy operations, while daughter Paddy and son Alexander focus on K. Wah.

How long would it take you to become as rich as Lui Che Woo?

If you started with $10,000 and invested an additional $500 each month at a 43.94% CAGR, it would take you 5 years to reach Lui Che Woo's net worth of $11.2B.

Is this realistic? It depends how closely the VIX-TA-Macro Advanced model performs to its history in the future. Since Grizzly Bulls launched on January 1, 2022, it's returned 43.45% compared to 12.43% for the S&P 500 benchmark.

Enter data in all but one field below, then calculate the missing value

Lui Che Woo is very wealthy, but what's stopping you from reaching that same level of success? As summarized in our five fundamental rules to wealth building, becoming wealthy in a modern capitalist economy is not complicated. There's actually only three variables:

  1. Your starting capital
  2. Your earnings after expenses
  3. The compound annual growth rate (CAGR) of your savings

Most people start with zero or very little, so if you weren't born into wealth, don't fret! The majority of the fortunate folks listed in our Grizzly Bulls’ Billionaires Index came from middle class or lower backgrounds. The most distinguishing characteristic of the group is their ability to consistently earn a high CAGR on their savings.

Every billionaire has a unique strategy to achieve high CAGR. For Lui Che Woo, Casinos/Hotels is the primary source. Whether you choose to invest your savings in your own businesses or the businesses of others is not as important. The salient piece of the puzzle is ensuring that your hard-earned savings are generating sufficient CAGR to reach your long term goals.

Most people simply invest their money in index funds and call it a day. There's nothing wrong with this approach, but it guarantees relative mediocrity. To achieve greatness, you need to invest your money to earn higher than average returns. In the long run, better investors will always finish ahead of better earners.

Source: Grizzly Bulls reporting

Methodology: Grizzly Bulls' Billionaires Index is a daily ranking of the world's billionaires and richest people. Grizzly Bulls strives to provide the most accurate net worth calculations available. We pull data from public equity markets, SEC filings, public real estate records, and other reputable sources.

The index is dynamic and updates daily at the close of U.S. stock market trading based on changes in the markets, economy, and updates to Grizzly Bulls' proprietary algorithm of personal wealth calculation. Stakes in public companies are tracked daily based on the relevant closing prices of the underlying securities. Additionally, stakes in private companies, cash, real estate, and other less easily valued assets are updated periodically through careful analysis of insider transactions, comparable public company sales / EBITDA multiples, etc.

Edited by: Lee Bailey