Michael Kadoorie Family Ranks 126th on Hurun Rich List with $44.5 Billion Fortune, CLP Holdings Remains Core Asset

Deep News
2025/10/28

On October 28, 2025, the Hurun Research Institute released the "2025 Hurun Rich List." The Michael Kadoorie family, rooted in Hong Kong for over 140 years, ranked 126th with a fortune of 44.5 billion yuan ($6.2 billion), marking a 2% increase (1 billion yuan) from the previous year. However, their ranking dropped by 36 spots. The family's core asset, CLP HOLDINGS, Hong Kong's largest electricity provider, continues to provide stable financial support.

CLP HOLDINGS is the largest power company in Hong Kong, supplying electricity to Kowloon, the New Territories, Lantau Island, and most outlying islands, covering over 80% of the city's population. The company has diversified energy investments across mainland China, Taiwan, India, Australia, and Southeast Asia. Financial reports show CLP HOLDINGS achieved 90.96 billion HKD in revenue last year, up 4.35% year-on-year, with net profit attributable to shareholders surging 76.44% to 11.74 billion HKD, demonstrating strong profitability and operational resilience.

As a key player in China's energy sector, CLP HOLDINGS entered the mainland market in the late 1970s. In 1985, it invested in and operated the Daya Bay Nuclear Power Station, China's first large-scale commercial nuclear plant, and later acquired stakes in the Yangjiang Nuclear Power Station in 2011. To date, CLP has become one of the largest foreign investors in China's energy sector, with total investments of around 50 billion HKD. Its portfolio spans nuclear, wind, solar, hydro, and coal-fired power, operating over 50 projects across 15 provinces and municipalities, contributing to China's energy diversification.

Michael Kadoorie, the third-generation patriarch, joined the family business in 1964 and has chaired CLP HOLDINGS and The Hongkong and Shanghai Hotels since 1985. His son, Philip Kadoorie, became a non-executive director of CLP in 2019 and was appointed Deputy Chairman of The Hongkong and Shanghai Hotels in 2025, signaling the fourth generation's gradual succession. The Kadoorie family holds significant influence in Hong Kong, shaping the city through enterprises like CLP and The Hongkong and Shanghai Hotels, alongside public infrastructure and philanthropy. Michael Kadoorie once stated, "We have deep affection for China," and his fluency in Cantonese reflects the family's century-spanning, cross-regional business legacy and cultural ties.

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