Billionaire real-estate developer Peter Woo spoke out against Hong Kong’s protesters in the Hong Kong Economic Journal on August 12, according to Bloomberg.
Over $1 billion has been wiped off of Woo’s personal net worth since the protests began, according to Bloomberg. Woo is now worth $11 billion.
Companies run by several of Hong Kong’s other ultra-wealthy residents including Merlin Swire and the Kwok family have also put out statements condemning the protests.
Now in their 10th week, the protests in Hong Kong have caused market volatility and disrupted flights, Business Insider previously reported.
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Protests have disrupted life in Hong Kong for 10 weeks, closing streets, causing volatility in the stock market, and disrupting flights at its airport. Several of the city’s wealthiest citizens have had enough, including billionaire real-estate developer Peter Woo.
“It’s time to think deeply,” Woo, the former chairman of real estate developer Wheelock and Co. wrote in the Hong Kong Economic Journal on August 12, according to Bloomberg. “Going against the extradition bill was the ‘big tree’ of this movement. This one and only big appeal has already been accepted by the government, so this tree has fallen.”
Over $1 billion has been wiped off of Woo’s personal net worth since the protests began, according to Bloomberg. Woo is now worth $11 billion. According to the Bloomberg Billionaire Index, Woo is the eighth-richest person in Hong Kong.
Swire Pacific, the owner of airline Cathay Pacific — the flag carrier of Hong Kong — also released a statement on August 13 calling for an end to the protester’s “illegal activities and violent behavior.”
“Swire Pacific is deeply concerned by the ongoing violence and disruption impacting Hong Kong,” the Hong Kong-based conglomerate said in …read more
Source:: Business Insider