Behind every billionaire there is a story!

Li Ka-shing named Hong Kong’s richest man

More than a decade after Hong Kong returned to Chinese rule, the former British colony is still churning out billionaires _ defying critics who thought the communist takeover would quash the territory’s capitalist spirit.

Tycoon Li Ka-shing was again named the city’s richest person by business magazine Forbes on Thursday, topping a list of local entrepreneurs whose fortunes have soared due to the city’s hot property sector and its links with booming China.

Li, 79, nicknamed “Superman” for his ability turn a profit, increased his fortune to $32 billion last year. That’s $10 billion more than he had at the end of 2006, according to the magazine.

The self-made billionaire has long been at or near the top of various global rich lists. He was named Asia’s second richest man and the world’s ninth by Forbes last year. His empire includes vast tracts of real estate in Hong Kong, the world’s largest container terminal operator and telecommunication interests in Asia and Europe.

Many of Hong Kong’s tycoons have extensive business links to the mainland where the economy has been growing at rates of more than 10 percent for several years.

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