Hong Kong’s 2026 rich list once again highlights the enduring power of integrated resorts, property and luxury retail capital, with Henry Cheng and Francis Lui securing places among the city’s Top 10 wealthiest individuals.

Multiple financial rankings and regional wealth trackers this year point to a stabilisation in gaming-linked fortunes, particularly those exposed to Macau’s premium-mass driven recovery. For Asia-Pacific IR stakeholders, the message is clear: capital confidence in Macau remains intact.

Henry Cheng: Luxury, Property and Strategic IR Positioning

As chairman of Chow Tai Fook and a key figure behind New World Development, Henry Cheng’s wealth is traditionally associated with jewellery retail and property. However, his strategic interests extend into the integrated resort sector via exposure to SJM Holdings.

SJM’s Cotai flagship, Grand Lisboa Palace, represents the company’s pivot toward modern IR operations — incorporating:

• Luxury hotel brands

• High-end retail

• Premium-mass gaming

• Non-gaming diversification aligned with Macau’s concession renewal framework

Industry analysts note that diversified conglomerates like Cheng’s are better positioned to weather cyclical property softness, as tourism and luxury consumption rebound in tandem with cross-border mobility.

Francis Lui: Premium-Mass Strength at Galaxy

Francis Lui’s wealth trajectory is more directly tied to the performance of Galaxy Entertainment Group, one of Macau’s most financially disciplined operators.

The group’s flagship, Galaxy Macau, continues to benefit from structural shifts in Macau’s revenue mix. With junket-driven VIP volumes largely replaced by direct premium-mass play, Galaxy has maintained strong margins through:

• Targeted premium player acquisition

• High-end hospitality offerings

• Phased expansion with balance sheet prudence

Recent sector data from Macau’s Gaming Inspection and Coordination Bureau shows gross gaming revenue stabilising at levels well above pandemic-era lows, reinforcing investor confidence in concessionaires with strong premium positioning.

Wealth Rankings Reflect Structural IR Recovery

Across various regional financial publications and wealth assessments in early 2026, several consistent themes emerge:

1. Gaming-linked fortunes have re-stabilised following regulatory reset and pandemic disruption.

2. Premium-mass remains the core profitability driver in Macau.

3. Diversified capital structures — combining property, retail and tourism — provide resilience.

For IR investors and policymakers, the inclusion of both Cheng and Lui among Hong Kong’s Top 10 wealthiest individuals is not symbolic — it reflects:

• Long-term conviction in Macau’s concession model

• Continued reinvestment into non-gaming amenities

• Sustained high-net-worth visitation to Cotai

Strategic Outlook for 2026

Looking ahead, the trajectory of Hong Kong’s gaming-linked billionaires will likely hinge on:

• Mainland consumer confidence

• Premium visitation trends

• Ongoing non-gaming diversification mandates

If current premium-mass momentum continues, Macau’s IR operators — and by extension their principal shareholders — are poised to remain central figures in Hong Kong’s wealth landscape.

For Asia gaming observers, 2026 is shaping up not as a rebound year, but as a consolidation phase — with capital once again flowing confidently into integrated resort assets.