⬅ # 124 Philip Anschutz|# 126 Jan Koum

# 125 Peter Woo 

$16.4B

Real Time Net Worth
as of 5/18/2024
$385.3M (2.36%)

# 125 Peter Woo 

$16.4B

Real Time Net Worth
as of 5/18/2024
$385.3M (2.36%)
OccupationOwner, Wheelock and Company
Source of WealthReal Estate
Age77
ResidenceHong Kong, Hong Kong
Marital StatusMarried
Children3
EducationMBA, Columbia Business School
Age-Adjusted Net Worth$5.18B
Peter Woo
Peter Woo
Hong Kong
Net worth: $16.4B

Self-Made Score 

Wealth History

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Biography

Early Life

Peter Woo Kwong-ching, GBM, GBS, JP, was born on September 5, 1946, in Shanghai, with ancestral roots in Ningbo, Zhejiang, and moved to Hong Kong in 1949.
He attended St Stephen's College in Stanley and obtained his bachelor's degree in physics from the University of Cincinnati, US, where he was a senior class president and a member of Delta Tau Delta fraternity.
Woo later earned an MBA from Columbia Business School in New York, US.
In 1972, he began his career at Chase Manhattan Bank in New York, where he met his future wife, Bessie, the daughter of shipping tycoon Y.K. Pao.
In 1975, Woo joined Bessie's family business in Hong Kong.

Career Highlights

Woo served as the chairman of Wheelock and Company Limited and The Wharf Holdings Limited until May 19, 2015.
Under his leadership, Wheelock and Wharf diversified into telecom, port, and retailing, controlling assets such as Lane Crawford luxury department store.
The group owns prominent properties like Harbour City and Times Square in Hong Kong.
Woo's business interests include real estate development in Hong Kong, China, and Singapore, and ownership of i-Cable Communications, Wharf New T&T, Modern Terminals Limited, and Marco Polo Hotels.
He owns the high-end luxury retail group LCJG, featuring Lane Crawford and Joyce.
Woo served on the advisory board for Fortune 500 companies such as Chase Manhattan Bank, JPMorgan Chase, and General Electric.

Political and Non-Profit Involvements

Woo is a member of the Standing Committee of the Chinese People’s Political Consultative Conference.
He held key roles in various organizations, including Chairman of the Council of the Hong Kong Polytechnic University, Founding Chairman of the Hong Kong Environment and Conservation Fund Committee, Chairman of the Hong Kong Hospital Authority, and Chairman of the Hong Kong Trade Development Council.
In 1996, he ran in the First Hong Kong Chief Executive Election.

Achievements and Honors

The Government of Hong Kong appointed Woo Justice of the Peace in 1993.
He was awarded the Gold Bauhinia Star in 1998 and the Grand Bauhinia Medal in 2012.

Family and Succession

Woo's son, Douglas, now chairs Wheelock, and took the company private in 2020.

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

If you started with $10,000 and invested an additional $500 each month at a 44.10% CAGR, it would take you 5 years to reach Peter Woo's net worth of $16.4B.

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 42.76% compared to 11.89% for the S&P 500 benchmark.

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Peter 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 Peter Woo, Real Estate 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