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Bloomberg Television

New World’s $23 billion empire in the spotlight after heir’s fall 💛

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one of Hong Kong’s richest families and the $23 billion Dynasty are now under the spotlight and at the center of it all is the eight boy of Hong Kong’s art scene for more than a decade Adrien Chang who is an heir of the billionaire Chang family has been the face of Hong Kong property developer new world it was under his leadership that New World created ambitious commercial projects like the lavish K1 Musea Galleria right here but his tenure was also marked by deepening debt on the company’s first annual loss in two decades and now Chang departure as new world CEO following the laws has also thrown a spanner in the works of the family seccession plans the Changs are one of the city’s richest and most influential families so a smooth transition to the younger generation matters beyond the family Adrian three other siblings have taken up key roles across their family businesses Sonia for example leads the upscale Rosewood Hotel chain and chai folk a leading jeweler in the region

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