David Webb has spent decades building a reputation in Hong Kong as a tenacious advocate for financial transparency and accountability. Originally from Britain, Webb relocated to Hong Kong and made a fortune by distinguishing reliable companies from those with murky operations on the local stock exchange. By 32, he stepped away from his corporate career to pursue activism, determined to confront the city's affluent elite and demand greater openness regarding the ownership and finances of public companies.
Over the past 30 years, Webb has stood at the forefront of the battle against collusion and corporate malpractice. He has taken on prominent figures in the business community, engaged in conflicts with regulators, and fiercely defended the rights of minority shareholders. His most notable achievement came when he unveiled the "Enigma Network," a report detailing suspicious links among 50 companies, leading to plummeting stock prices and triggering investigations into manipulation that disadvantaged smaller investors. A former regulator has dubbed him the “conscience” of Hong Kong’s financial markets.
In his own words, Webb has expressed a unique freedom in his ability to criticize companies without fearing the repercussions on his employability, a stance he has maintained throughout his career. As he confronts his impending mortality—doctors have estimated he has only months to live—he worries about the sustainability of his mission to foster a more transparent financial environment in the city. Without a successor to continue his work, Webb’s efforts may become increasingly isolated, casting a shadow over the future of corporate accountability in Hong Kong.
