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Yeung Kin-man (right) and Lam Wai-ying (middle) accept a gift from City University of Hong Kong after their $26 million donation to the university in 2015.
Courtesy of City University of Hong Kong
This story is part of Forbes’ coverage of Hong Kong’s Richest 2021. See the full list here.
Husband and wife Yeung Kin-man and Lam Wai-ying of Biel Crystal had another red-hot year. The founders of the smartphone glass-cover maker saw their wealth rise 133% from a year ago after a 70% hike in 2020. This puts them at No. 4 with a net worth of $18.6 billion. Biel’s customers include some of the world’s major smartphone makers: Apple, Huawei and Samsung, all of whom need Biel’s glass covers. These covers, which are not costly to manufacture but have a high technical barrier to entry, have granted Biel both first-mover advantage and a field with few competitors, says Taiwan-based analyst Boyce Fan at research firm TrendForce. After scrapping plans to go public in 2018, Yeung is reportedly seeking to raise up to $2.5 billion in an IPO of Biel later this year.
I have been writing for Forbes Asia since 2010. As a freelancer I also worked with organizations such as The Economist Group, Ford Foundation and Crain Communications. I
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I have been writing for Forbes Asia since 2010. As a freelancer I also worked with organizations such as The Economist Group, Ford Foundation and Crain Communications. I find interest in how China’s business and cultural dynamics fit into the world’s puzzle.