Here’s What Keeps Asia’s Richest Man Awake at Night

Inequality has reached the point where even billionaires are worried about it…

TIME

Hong Kong businessman Li Ka-shing disclosed to graduating students at China’s Shantou University the chief reason for his insomnia: wealth inequality.

“So why am I sleepless in Hong Kong?” Li, the world’s 15th richest man, posed in his commencement address. “I fear that widening inequality in wealth and opportunities, if left unaddressed could fast become ‘the new normal.'”

Indeed, in Hong Kong (and worldwide) the rich have become richer, the poor only poorer. The city-state has the highest growth of millionaires, yet nearly one-fifth of its population lives in poverty. Li’s net worth, now $34.5 billion, has increased nearly 50% since 2010, while the average household income of Hong Kong’s poorest 10% in 2011 fell by 16% since 2001.

Aside from Li’s sleeplessness, wealth inequality is also fueling Hong Kong’s annual Occupy Central movement, scheduled for July, in which demonstrators are blaming Chinese politicians —…

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