Bloomberg Billionaires Index

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# 231 Michael Kadoorie $9.13B

Random fact: CLP provides electricity to 80% of Hong Kong.


Kadoorie controls CLP Holdings, the biggest electricity producer in Hong Kong. The publicly traded company operates in China, Taiwan, India, Southeast Asia and Australia. Kadoorie and his family also have stakes in CK Hutchison, Tai Ping Carpets and Hongkong & Shanghai Hotels, which runs the Peninsula Hotels chain.

As of :
Last change -$270k ( 0%)
YTD change +$257M ( +2.9%)
Biggest asset 2 HK Equity
Country / Region Hong Kong
Age 82
Industry Energy
View net worth over:   Max 1 year 1 quarter 1 month 1 week

Relative Value

Michael Kadoorie's net worth of $9.13B can buy ...

troy ounces of gold
barrels of crude oil

... and is equivalent to ...

of the GDP of the United States
of the total wealth of the 500 richest people in the world
of the top 100 U.S. college endowments
of the top 200 U.S. executives’ total awarded compensation
of U.S. existing home sales
times the median U.S. household income

Latest News

Net Worth Summary

Private asset
Public asset
Misc. liabilities
Confidence rating:

The majority of Kadoorie's wealth is derived from an 18% stake in CLP Holdings, the biggest electricity producer in Hong Kong. He owns the stake through his wife and at least six trusts. Half of a trust that holds 70 million shares is deducted from his net worth calculation because he shares the trust with brother-in-law Ronald McAulay, according to the 2019 annual report.

He also owns about 57% of Hongkong & Shanghai Hotels, which operates Peninsula hotels in Asia, Europe and the US. He holds the shares directly, and through his wife and trusts, according to the company's Feb. 14, 2022 filing.

About $2.6 billion in commercial and residential property was added to the valuation on Aug. 28, 2018. This represents a half share of the properties' net value because he shares them with McAulay, according to a Bloomberg report.

The billionaire has interests in several other publicly traded companies, including Tai Ping Carpets, a luxury custom carpet maker, and CK Hutchison, a conglomerate spanning telecommunications, retail, infrastructure and energy. CK Hutchison is owned by billionaire Li Ka-Shing, Kadoorie's long-time business ally. Kadoorie's shares in those companies are held through various holding companies and trusts registered in Cayman Islands, Bermuda and the British Virgin Islands.

The value of his cash investments is based on an analysis of dividends, insider transactions, taxes, market performance and charitable giving.

Mark Lee, CLP spokeswoman, declined to comment on Kadoorie's net worth.


Family: Married, 3 children

Michael Kadoorie comes from a Jewish family with roots in Baghdad, Iraq. His grandfather, Elly Kadoorie, and his younger brother, Ellis, first came to the Far East in 1880. The duo moved to Hong Kong to work for E. D. Sassoon and Co., a company run by another Mesopotamian Jewish family. Elly purchased 25 shares of the Hongkong Hotel Co. in 1890, and the company acquired 85% of Shanghai Hotels in 1922, changing its name to the Hongkong & Shanghai Hotels.

Elly moved his business and family to Shanghai in 1911, shortly before World War I. His wife died in a fire that destroyed their first home in 1919, and the family built a second home -- the Marble Hall -- which still stands today.

He returned to Hong Kong to create a brokerage business in 1948. The family made a fortune through finance, property and utilities. They accumulated a stake in what was then called China Light & Power, and eventually became the controlling shareholder of the electricity provider. The company later became CLP Holdings.

Elly's son, Lawrence, married Muriel Gubbay. Their son Michael was born in 1941. Michael went to Switzerland to study at Institut Le Rosey before he was appointed chairman of China Light & Power at age 26.

Hong Kong's economy boomed in the 1960s, the result of large foreign investment encouraged by liberal tax policies. Kadoorie benefited from the steady growth as demand for his electricity and hotel rooms both rose. He gradually diversified into other industries, buying stakes in Tai Ping Carpets, Hong Kong Aircraft Engineering and Hutchison Whampoa. Kadoorie lives with his wife, Betty, in a $30 million mansion in Hong Kong's Deep Water Bay, an area populated by other tycoons, including Li Ka-Shing.

An avid sports car fan, Kadoorie owns a Type 57 Bugatti, a 1932 Phantom II Thrupp & Maberly, a 1934 Hispano-Suiza J12 Van Vooren Cabriolet, a 1969 P400 S Miura Lamborghini and a Rolls-Royce Silver Ghost.

  • 1941 Born in Hong Kong to Lawrence Kadoorie and Muriel Gubbay.
  • 1967 Appointed chairman of China Light & Power.
  • 1979 Starts to supply power to China's Guangdong Province.
  • 1985 Becomes chairman of Hongkong and Shanghai Hotels.
  • 1991 The Peninsula Beverly Hills opens.
  • 1998 CLP Holdings is formed after company reorganization.
  • 2001 Acquires a majority stake in Yallourn, his first Australian venture.
  • 2002 Enters India through acquisition of Gujarat Paguthan Energy.
  • 2003 The Peninsula Hong Kong celebrates its 75th anniversary.
  • 2010 Opens The Peninsula Shanghai, the family’s home in early 1900s.