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What is Peter Woo’s Net Worth?
Peter Woo, a prominent Hong Kong-based businessman, has an estimated net worth of $13 billion. Woo’s wealth primarily stems from his leadership roles in major companies such as Wheelock & Company Limited and The Wharf Holdings Limited. These companies are heavily involved in real estate, investment, logistics, and media businesses.
Woo’s strategic management and substantial stake in these enterprises have been pivotal in his financial success. For instance, he holds a 59.8% stake in Wheelock & Co., which has been a cornerstone of his wealth accumulation.
Woo owns some of the most valuable properties in Hong Kong, including the Times Square and Harbour City shopping malls. These properties are not only significant assets but also major revenue generators.
In addition, Woo has diversified his investments by holding stakes in various other companies, such as Salvatore Ferragamo, Longfor Properties, Joyce Boutique, and Sun Hung Kai Properties.
Here’s the breakdown of Peter Woo’s net worth:
Name: | Peter Woo |
Net Worth: | $13 Billion |
Date of Birth: | September 5, 1946 |
Profession: | Businessperson |
If you’re curious about how we estimate a celebrity’s net worth, you can check out our methodology here.
Early Life and Education
Peter Woo Kwong-ching was born on September 5, 1946, in Shanghai, China. His ancestral roots can be traced back to Ningbo, Zhejiang province. In 1949, at the age of three, Woo and his family relocated to Hong Kong, where he spent his formative years.
Woo received his early education at St. Stephen’s College in Hong Kong, a prestigious Direct Subsidy Scheme boarding school. He then pursued higher education in the United States, where he demonstrated both academic excellence and leadership skills.
Woo graduated from the University of Cincinnati, majoring in physics and mathematics, and served as the senior class president. He was also a member of the Delta Tau Delta fraternity, an association he maintains to this day.
Following his undergraduate studies, Woo furthered his education by obtaining a Master of Business Administration (MBA) from Columbia Business School in New York.
Career
Peter Woo’s illustrious career began at Chase Manhattan Bank, where he worked in both New York and Hong Kong, gaining valuable experience in the financial industry.
Woo’s career took a significant turn when he joined The Wharf (Holdings) Limited in 1978. He quickly rose through the ranks, becoming the Chairman of Wharf in 1986, a position he held until May 2015. Concurrently, he served as the Chairman of Wheelock and Company Limited from 1986 to December 2013.
Under Woo’s leadership, his business empire expanded to include various sectors, with a primary focus on real estate development in Hong Kong, China, and Singapore. His companies own several landmark properties, including Harbour City and Times Square in Hong Kong.
In addition, Woo’s business interests extend to other sectors such as telecommunications (i-Cable Communications, Wharf New T&T), logistics (Modern Terminals Limited), hospitality (Marco Polo Hotels), and luxury retail (Lane Crawford and Joyce).
Throughout his career, Woo has also served on advisory boards of Fortune 500 companies, including Chase Manhattan Bank, JPMorgan Chase, and General Electric.
Political and Non-Profit Involvement
Peter Woo is a member of the Standing Committee of the Chinese People’s Political Consultative Conference (CPPCC), a political advisory body in China. His political engagements also include running in the First Hong Kong Chief Executive Election in 1996, although he did not win the position.
Woo’s non-profit contributions are extensive. He served as the Chairman of the Council of the Hong Kong Polytechnic University from 1993 to 1997, during which he oversaw its transition to a university. He was the founding chairman of the Hong Kong Environment and Conservation Fund Committee from 1994 to 2004, a role in which he co-funded the committee with the Hong Kong government to promote environmental conservation.
In addition, Woo chaired the Hong Kong Hospital Authority from 1995 to 2000, managing 46 public hospitals and a workforce of 50,000 staff. From 2000 to 2007, he was the Chairman of the Hong Kong Trade Development Council, which has over 40 offices worldwide.
In 2011, Woo established Project WeCan , a business-in-community initiative aimed at supporting underprivileged students in Hong Kong. The project connects business sponsors, professionals, and retirees with schools to provide financial and volunteer support, benefiting thousands of students across numerous schools.
Achievements and Honours
Peter Woo’s contributions to business, politics, and society have been recognized with numerous awards and honors. In 1993, the Hong Kong Government appointed him as Justice of the Peace, acknowledging his significant public service. He was awarded the Gold Bauhinia Star in 1998, one of the highest honors in Hong Kong, for his outstanding contributions to the community.
In 2012, Woo received the Grand Bauhinia Medal, the highest award under the Hong Kong honors system, further solidifying his status as a respected and influential figure in Hong Kong. His international recognition includes being awarded the Cross of Officer in the Order of Leopold by the late King Baudouin I of Belgium in 1993.
Woo has also been honored by various academic institutions. He has received honorary doctoral degrees from universities in the United States, Australia, and Hong Kong, reflecting his contributions to education and his leadership in various sectors.
Personal Life
Peter Woo maintains a relatively low-key personal life. He was married to Bessie Pao, the daughter of shipping magnate Sir Yue-Kong Pao, and they have three children: Jacqueline, Jennifer, and Douglas.
His son, Douglas Woo, has taken over the reins of the family businesses, continuing the legacy of leadership in Wheelock & Company and The Wharf Holdings.
Woo is an avid art collector with a keen interest in Chinese antiques and enjoys playing tennis and golf. His personal interests and hobbies reflect a well-rounded individual who values both cultural heritage and physical well-being.
Ashley Roberts is the founder of Real-Time Billionaires List. She founded this platform because she likes to know how much celebrities are actually making. She is always curious why these people can make much more money than the ordinary person.
With a Bachelor’s degree in finance, she is skilled at financial analysis and understands numbers related to wealth. Most of the articles on this site are edited by herself before publishing.
