Tony Chan had hoped to earn one of Asia's largest fortunes the old-fashioned way – by inheriting it. Yesterday, however, a Hong Kong judge rejected the reputed feng shui master's claims to the estate of Nina Wang, awarding it instead to the late tycoon's family charitable foundation.

At stake was an inheritance Forbes last estimated to be worth $4.2bn; the magazine has not included the disputed fortune in its wealth lists since Wang died in 2007. Hong Kong media reports now routinely quote a figure of $13bn (€9.3bn, ￡8.2bn). At the higher end, Mr Chan stood to become the territory's second-richest man after Li Ka-shing, the property, ports, retail and telecommunications baron.

In a sensational court battle, the Chinachem Charitable Foundation tried to paint Mr Chan as an opportunist, playing on potential clients' interest in feng shui, the ancient Chinese tradition that seeks to harmonise people with their natural surroundings.