Hong Kong billionaire Michael Kadoorie is raising at least USD50m to improve the city’s image, people familiar with the matter told Bloomberg, personally committing USD5m. He has approached local tycoons including Henderson’s Peter Lee and Sun Hung Kai’s Raymond Kwok, as well as Alibaba’s Joseph Tsai. The project may begin by spring and include advertisements to boost tourism, they said. Blue Pool Capital CEO Oliver Weisberg, who met with the Kadoorie family, called it “early days”. Hong Kong’s reputation has suffered since 2019 protests, introduction of a national security law, and years of strict COVID-19 controls. Tourist arrivals remain below pre-pandemic levels. Officials have tried to revive the city’s brand, but high-profile events such as Taylor Swift’s Eras Tour bypassed the city.