Hong Kong’s family office summit draws Pop Mart billionaire among global guest list
City is ‘strong and unwavering’ as wealth management hub, Chief Executive John Lee says to kick off fourth Wealth for Good summit
About 130 family office decision-makers and affluent second-generation members from across the world attended a dinner held by the Hong Kong government on Monday evening, including billionaire Pop Mart founder, chairman and CEO Wang Ning.
The dinner set the stage for the fourth edition of the Wealth for Good in Hong Kong (WGHK) Summit, themed “Building Lasting Legacies”, which will take place on Tuesday, as the city promotes its capabilities as an international wealth management hub amid global uncertainties.
But Hong Kong stood “strong and unwavering”, he said. “More and more family offices are turning to Hong Kong. We are now home to over 3,380 single family offices – a 25 per cent increase in the past two years.”
More than half of those had second-generation members, or beyond, in leadership roles, he added, reflecting the confidence that ultra-high-net-worth families had in Hong Kong as a base for generational wealth transfer.
Wang of Pop Mart, which owns intellectual property rights to the popular Labubu toys, met Christopher Hui Ching-yu, the Secretary for Financial Services and the Treasury, on Monday.