Former Miss Hong Kong Runner-Up Sells Luxury Penthouse at Significant Loss
Karmen Kwok, who captured the title of second runner-up in the 2015 Miss Hong Kong pageant, has recently divested a prime Kowloon Tong penthouse, a property that was reportedly gifted to her by billionaire Richard Li. Li, the younger son of Hong Kong’s wealthiest magnate, Li Ka Shing, presented the luxurious residence to Kwok during their highly publicized relationship. The sale has garnered significant attention due to the substantial financial loss incurred on the transaction.
The opulent apartment was initially acquired for HK$130 million (approximately US$16.59 million). However, Kwok is reported to have sold the property for a considerably lower sum of HK$78.4 million. This transaction represents a notable decrease from the original purchase price.
The penthouse itself is a lavish dwelling, spanning roughly 2,188 square feet (203 square meters). It features a well-appointed four-bedroom layout, complete with two en-suite bathrooms. Adding to its exclusivity, the property boasts a private rooftop area and an integrated swimming pool, collectively covering an additional 1,855 square feet. Based on the reported sale price, the per-square-foot cost equates to approximately HK$35,832.
A Rise to Prominence and a High-Profile Romance
Born in 1992, Karmen Kwok’s journey into the public eye began with her impressive performance at the 2015 Miss Hong Kong pageant, where she secured the second runner-up position. Following her pageant success, she embarked on a professional career in the entertainment industry, signing a contract with television broadcasting company TVB and launching an acting career.
However, Kwok’s burgeoning professional aspirations soon took a backseat as her romantic involvement with Richard Li captured the persistent attention of the media. Their relationship became a frequent subject of news coverage and social media discussions. The couple was often seen traveling together internationally, and they officially confirmed their relationship status in 2017. It was in this same year that Li purchased the Kowloon Tong penthouse, placing it under Kwok’s name.
Following the public acknowledgment of their relationship, Kwok largely withdrew from her film and television commitments. Her focus shifted entirely towards building a life alongside the billionaire. During this period, she was a consistent presence by Li’s side, accompanying him to various charity events and exclusive high-society gatherings, further cementing her image as part of the elite circles.
A Shift in Lifestyle Post-Breakup
The high-profile romance between Kwok and Li eventually concluded a few years later. Reports at the time suggested that the separation occurred as Li’s attention turned towards Serene Lim, who was the runner-up in the 2016 Miss International China pageant.
Since the dissolution of her relationship with the billionaire, the former beauty queen has transitioned to a significantly more understated lifestyle. Eschewing the glamorous life she once led, Kwok now generates her income through livestreaming sessions and the sale of various goods. She has been open with her online followers about her current preferences, stating a newfound appreciation for purchasing affordable and practical items, a stark contrast to her past inclination towards expensive designer brands.
Richard Li, aged 59, commands an estimated net worth of US$6.2 billion. As of March 22, he was ranked 17th on Forbes’ prestigious Hong Kong rich list. His father, Li Ka Shing, remains the wealthiest individual in the city, boasting a formidable net worth of US$46.2 billion.
