Cheng Yu-tung’s net worth: Cheng Yu-tung is an Asian businessman who has a net worth of $14.5 billion. This net worth makes Cheng Yu-tung one of Hong Kong’s wealthiest people. Born in Sound, Guangdong, Republic of China, Cheng Yu-tung is now based in Hong Kong. He was the CEO of New World Development, a family-owned real estate development firm, Until recently. He began his professional career with a jewelry company called Chow Tai Took. Chow Tai Took became Chai Tai Took Enterprises and expanded into multiple business ventures, including serving as the umbrella corporation for New World Development. Chow Tai foo knew World Development owns multiple properties both in Hong Kong Macau and abroad, including five high-end hotels. The company recently acquired the Carlyle Hotel in Manhattan. Sheraton Marina also manages The Sheraton Marina hotels. He also serves as honorary consul for Bhutan and on the board of Hong Kong’s third-largest bank Hang Seng. In early 2012 He announced his retirement and passed the leadership to his son.