Li leads list of Asian billionaires

After a lapse of seven years, Hong Kong billionaire Li Ka-shing is again Asia’s richest person.

Forbes estimated Li’s wealth in 2011 at US$25.5 billion. The second richest Asian is India's Mukesh Ambani with US$22.3 billion.

On a worldwide basis, Li is the world’s 9th richest individual while Ambani is the 19th richest. Li was the world’s 11th richest in 2010.

The top 20 Asian billionaires were together worth US$264 billion in 2011, some US$15 billion poorer than 2010 because of weak financial markets worldwide.

Indian steel mogul Lakshimi Mittal, the richest Asian in 2010, saw his wealth plunge to US$20.7 billion from about US$31 billion. Sales of his company, ArcelorMittal, the world's largest steelmaker, have plummeted as a result of the global downturn.

One in every seven residences in Hong Kong was built by Li's companies. Li’s firms also handle 70% of the city’s port traffic.