The Rich List: Finance dominates, IT rises

More affluent consumers are enriching tycoons whose businesses are adapting to changing trends and spending behaviour.

Family-owned conglomerates like Tata and Mittal continue to expand holdings on the back of policy support courtesy of business-friendly Prime Minister Narendra Modi.

New World Development and Chow Tai Fook tycoon Cheng Yu Yung, who died in September, edges out Li Ka-shing as property billionaires dominate our top 10.

There are welcome signs the new asset class is finding its feet the region. After South Korea’s pioneering efforts, interest is now picking up in India and accelerating in Japan. However, not everyone is yet fully convinced of its virtues just yet.

The joint venture between HPCL and steel tycoon Lakshmi Mittal draws impressive $1.5 billion order book, allowing debut issuer to increase the size of the bond to $375 million.

The former Deutsche Bank executive joins in Hong Kong as Apac head of healthcare and real estate.