Bridgewater's Bob Prince purchases $12.2 million home in Hong Kong's Kadoorie Hill

Bob Prince, co-chief investment officer at Bridgewater Associates, has purchased a $12.2 million home in Kadoorie Hill, Hong Kong. This exclusive area is known for its wealthy residents. The purchase was highlighted by a Hong Kong Monetary Authority official at a finance conference. The property market in Hong Kong has been struggling, with luxury home values down 11.3% since January 2022. Despite this, Prince cited solid fundamentals and negative sentiment as reasons for his investment, emphasizing Hong Kong's strategic importance in Asia. Prince's comments came amid political tensions and a recent court ruling against pro-democracy activists in Hong Kong. He described the city as a vibrant place with great culture and accessibility for business.