Arts & Culture, Peter Woo, Hong Kong, Billionaires, Taylor Nicole Rogers

Arts & Culture, Peter Woo

One of the richest people in Hong Kong has lost $1 billion over the course of the 10-week protests, and now he's joining the chorus of wealthy citizens calling for the protests to end

Protests have disrupted life in Hong Kong for 10 weeks, closing streets, causing volatility in the stock market, and disrupting flights.

14.8.2019

One of the richest people in Hong Kong has lost $1 billion over the course of the 10-week protests, and now he's joining the chorus of wealthy citizens calling for the protests to end

Protests have disrupted life in Hong Kong for 10 weeks, closing streets, causing volatility in the stock market, and disrupting flights.

Billionaire real-estate developer Peter Woo spoke out against Hong Kong's protesters in the Hong Kong Economic Journal on August 12, according to Bloomberg. Over $1 billion has been wiped off of Woo's personal net worth since the protests began, according to Bloomberg. Woo is now worth $11 billion. Companies run by several of Hong Kong's other ultra-wealthy residents including Merlin Swire and the Kwok family have also put out statements condemning the protests. Now in their 10th week, the protests in Hong Kong have caused market volatility and disrupted flights, Business Insider previously reported. Visit Business Insider's homepage for more stories. Protests have disrupted life in Hong Kong for 10 weeks, closing streets, causing volatility in the stock market, and disrupting flights at its airport. Several of the city's wealthiest citizens have had enough, including billionaire real-estate developer Peter Woo. "It's time to think deeply," Woo, the former chairman of real estate developer Wheelock and Co. wrote in the Hong Kong Economic Journal on August 12, according to Bloomberg."Going against the extradition bill was the 'big tree' of this movement. This one and only big appeal has already been accepted by the government, so this tree has fallen." Over $1 billion has been wiped off of Woo's personal net worth since the protests began, according to Bloomberg. Woo is now worth $11 billion. According to the Bloomberg Billionaire Index, Woo is the eighth-richest person in Hong Kong. Swire Pacific, the owner of airline Cathay Pacific — the flag carrier of Hong Kong — also released a statement on August 13 calling for an end to the protester's"illegal activities and violent behavior." "Swire Pacific is deeply concerned by the ongoing violence and disruption impacting Hong Kong," the Hong Kong-based conglomerate said in the statement. The company also said it supports law enforcement and Hong Kong Chief Executive Carrie Lam"in their efforts to restore law and order." Read more: One in 10 ultra-wealthy Hong Kong residents lost their millionaire status in 2018, and an expert says the extreme wealth loss highlights the volatility of their net worths The real-estate developer run by Asia's third-richest family, the Kwoks, has also called for an end to the unrest."The recent series of violent acts to challenge the rule of law have damaged Hong Kong's economy and seriously affect citizens' daily life," Sun Hung Kai Properties said in a statement, according to a translation by Bloomberg. The Kwok family is worth $40.4 billion, according to Forbes. The net worths of Hong Kong's billionaires are unusually sensitive to market volatility, Business Insider previously reported. In 2018, Hong Kong's high net worth population experienced the steepest drop in collective wealth of any region worldwide, according to French technology consulting firm Capgemini. The net worths of Hong Kong's wealthiest residents fell 13% in 2018, compared to the global average of 3%, according to Capgemini. Thousands took to the streets of Hong Kong beginning in July over an extradition bill with mainland China but have since expanded their focus to police actions and their democratic system, Business Insider previously reported. Protesters blocked departure gates in Hong Kong's airport on August 13, causing hundreds of flights to be canceled. The protesters held signs apologizing to would-be passengers, saying they are"fighting for our freedom." On Wednesday morning, ABC News reported, flights at the airport resumed. Billionaire real-estate developer Peter Woo spoke out against Hong Kong's protesters in the Hong Kong Economic Journal on August 12, according to Bloomberg. Over $1 billion has been wiped off of Woo's personal net worth since the protests began, according to Bloomberg. Woo is now worth $11 billion. Companies run by several of Hong Kong's other ultra-wealthy residents including Merlin Swire and the Kwok family have also put out statements condemning the protests. Now in their 10th week, the protests in Hong Kong have caused market volatility and disrupted flights, Business Insider previously reported. Visit Business Insider's homepage for more stories. Protests have disrupted life in Hong Kong for 10 weeks, closing streets, causing volatility in the stock market, and disrupting flights at its airport. Several of the city's wealthiest citizens have had enough, including billionaire real-estate developer Peter Woo. "It's time to think deeply," Woo, the former chairman of real estate developer Wheelock and Co. wrote in the Hong Kong Economic Journal on August 12, according to Bloomberg."Going against the extradition bill was the 'big tree' of this movement. This one and only big appeal has already been accepted by the government, so this tree has fallen." Over $1 billion has been wiped off of Woo's personal net worth since the protests began, according to Bloomberg. Woo is now worth $11 billion. According to the Bloomberg Billionaire Index, Woo is the eighth-richest person in Hong Kong. Swire Pacific, the owner of airline Cathay Pacific — the flag carrier of Hong Kong — also released a statement on August 13 calling for an end to the protester's"illegal activities and violent behavior." "Swire Pacific is deeply concerned by the ongoing violence and disruption impacting Hong Kong," the Hong Kong-based conglomerate said in the statement. The company also said it supports law enforcement and Hong Kong Chief Executive Carrie Lam"in their efforts to restore law and order." Read more: One in 10 ultra-wealthy Hong Kong residents lost their millionaire status in 2018, and an expert says the extreme wealth loss highlights the volatility of their net worths The real-estate developer run by Asia's third-richest family, the Kwoks, has also called for an end to the unrest."The recent series of violent acts to challenge the rule of law have damaged Hong Kong's economy and seriously affect citizens' daily life," Sun Hung Kai Properties said in a statement, according to a translation by Bloomberg. The Kwok family is worth $40.4 billion, according to Forbes. The net worths of Hong Kong's billionaires are unusually sensitive to market volatility, Business Insider previously reported. In 2018, Hong Kong's high net worth population experienced the steepest drop in collective wealth of any region worldwide, according to French technology consulting firm Capgemini. The net worths of Hong Kong's wealthiest residents fell 13% in 2018, compared to the global average of 3%, according to Capgemini. Thousands took to the streets of Hong Kong beginning in July over an extradition bill with mainland China but have since expanded their focus to police actions and their democratic system, Business Insider previously reported. Protesters blocked departure gates in Hong Kong's airport on August 13, causing hundreds of flights to be canceled. The protesters held signs apologizing to would-be passengers, saying they are"fighting for our freedom." On Wednesday morning, ABC News reported, flights at the airport resumed. Read more: Business Insider

Hongkong must stop violence and negotiate globaltimesnews ,PDChina ,ChinaDaily ,cnni ,RT_com ,IDF ,JPN_PMO Surely those are mainly paper losses not actual cash? The market will rebound. HongKongProtests DanteJones123 because he knows where his bread is buttered Shame on you, BI! Beijing knows all the dirty things they did. They work closely with Beijing. That's why the life of average people in Hong Kong is so hard!

These people are what made HK sick and miserable. They are the disease itself. When they lose a billion because of Trump, what will they do? Tell him to resign? It's all about the money with these corrupt Chinese Communist puppets Aw, poor guy! Stock markets been bad ok cool, they can join the unsympathetic group of people complaining about travel disruption

There's no one for China to negotiate with in Hong Kong, expert says'There's no one there with whom the [Chinese] government could negotiate, if it so wished,' says Jonathan Fenby, chairman of TS Lombard's China team, in discussion of the escalating unrest in Hong Kong . hk continues dip, NYSE recovery in motion, suggests that hk's influence to the US is limited and being pushed to the corner. Doesn’t the escalation come from the Tariffs? You seem as Demagogues to miss the reality of this war. Trumps not negotiating with China! He’s negotiating for the middle of this country against Wall Street and US MFG’ers who’ve raped the American consumers the last 40 years.

Of course he is.

Clashes at Hong Kong airport after flights haltedPolice and protesters clashed at Hong Kong 's international airport after flights were disrupted for a second day. In Washington, US President Donald Trump says the Chinese government was moving troops to the border with Hong Kong .

Anti-government protesters severely disrupt Hong Kong International Airport for second day runningAnti-government protesters have severely disrupted air travel for a second straight day, forcing Hong Kong International Airport to suspend check-in services for all departing flights How is it by sea? Pro-freedom = anti-government

Hong Kong gets closer to a tipping point, says reporterAmb. Wendy Sherman and Washington Post reporter Ishaan Tharoor join Morning Joe to discuss the latest developments in Hong Kong , where protesters and police clashed in the city’s international airport.

Flights resume at Hong Kong airport after protests lead to chaosProtesters returned to Hong Kong 's international airport and obstructed passengers from boarding flights, causing suspension of check-ins for the second day in a row. Peaceful protesters with knifes and hammers ? Liberals in Hong Kong the Chinese army will fix Hong Kong. Education camps for the dissidents in China.

China warns of 'terrorism' in Hong Kong protests, says the U.S. is supporting itAfter Hong Kong police were attacked with firebombs, a Chinese official warned 'violent crimes must be resolutely cracked down in accordance with the law, without hesitation or mercy.' 🔥🔥🔥🔥☂️🔥🔥🔥🔥Stop China junk Yes....kick those US state dept. sponsored thugs...hard. Sentletse China is talking rubbish.



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