Jimmy Lai Net Worth Explained As Media Tycoon Is Convicted In National Security Case

The conviction of media magnate Jimmy Lai in Hong Kong has driven the megastar legal issue of Taiwanese to a turning point, and with that, his assets that were frozen and his wealth that is shrinking have once again been the focus of public scrutiny.

The High Court of Hong Kong on Monday declared the 78-year-old major shareholder of the now-nonexistent Apple Daily guilty of two offenses related to national security, i.e. of collusion with foreign forces and sedition, and thus he was charged with one more offense that is related to sedition. The sentencing has been delayed, but international news sources tell that the maximum penalty for the most severe charge could be life imprisonment under the National Security Law.

The ruling marks the finale of one of the most thoroughly monitored trials in Hong Kong, but it puts forward the still unresolved question that has been pestering the case for years: what will be the fate of Jimmy Lai's riches?

Jimmy Lai's Wealth Before His Arrest

Prior to his detention in 2020, Jimmy Lai was considered one of the most powerful figures in business in Hong Kong. He established his first retail outlet for the Giordano clothing brand, giant retailer, thus entering the media business in the 1990s, after having escaped from mainland China as a child.

At the height of his career, Lai’s net worth was estimated at around $1.2 billion, largely driven by his retail and media ventures. However, his financial standing deteriorated rapidly following his arrest and the subsequent legal action.

Apple Daily was established in 1995 and developed to be one of the most widely read tabloids in Hong Kong and criticized Beijing very openly and strongly. Its editorial policy positioned Lai as the most important figure of the pro-democracy movement in the city during the period leading up to the 2019 demonstrations.

Frozen Assets And Financial Curbs

Soon after Lai’s detention, authorities froze significant portions of his assets, including company shares and multiple bank accounts. These restrictions, imposed under national security provisions, have remained in force throughout the trial.

The closure of Apple Daily was the consequence of police raids and the detaining of high-level managers, which wiped out Lai’s main business. Subsequently, court records disclosed that the obtaining of money for legal costs was subjected to special authorization, thus emphasizing the severe restrictions imposed on his monetary matters.

What Happens To His Assets After The Verdict?

Legal experts say the guilty verdict increases the likelihood that Lai’s frozen assets could face permanent confiscation. Under Hong Kong law, asset freezes can escalate into forfeiture after conviction, particularly in national security cases.

No formal confiscation order has been issued so far. Nonetheless, the decision fortifies the administration’s stance in case the public attorneys decide to go for the confiscation of assets, which could possibly impact the riches held in the form of trusts, by relatives, or in offshore setups.

Why The Case Has Gained Worldwide Interest

The trial of Jimmy Lai brought about heavy international monitoring, with the world press being very attentive to the court activities. It has been reported that the judges took Lai's dealings with foreign diplomats and his interactions with foreign press as one of the factors proving the collusion charge.

Lai remains in custody while awaiting sentencing and possible appeals. For now, the bulk of his remaining wealth remains inaccessible, and its final fate rests with the courts.

What is certain is that the conviction has placed Jimmy Lai’s once-formidable fortune firmly under the control of the legal system that judged him.