Hong Kong is rapidly emerging as a top global financial center, attracting the world's wealthiest individuals. Adrian Cheng, CEO of New World Development, predicts the city will become the leading hub for family office wealth management. Cheng, from one of Hong Kong’s richest families, recently launched the Hong Kong Academy for Wealth Legacy to boost the city's high-net-worth population. A Deloitte survey revealed Hong Kong had over 2,700 single-family offices by the end of last year, with one-third managing at least USD100m in assets. Despite a slight dip in its ultra-high-net-worth population, Hong Kong remains just behind New York. Cheng also highlighted plans for a tax-free art hub to attract more wealthy residents.