Hong Kong’s Second Richest Passes Away
Hong Kong’s second richest man has passed away after building a major business empire that encompassed property development, utilities and more.
Lee Shau-kee passed away on March 17 at the age of 97 while being surrounded by his family, according to a statement by the Hong Kong billionaire's property company, Henderson Land.
Lee is a renowned property tycoon in Hong Kong and he is the city's second richest individual, according to Forbes, with a net worth of $29.2 billion.
Business Empire
Lee was born into a small merchant family in Guangdong province in 1928 before moving to Hong Kong in 1948. After befriending prominent businessmen Kwok Tak-seng and Fung King-hey, the trio was dubbed the «Three Musketeers» and founded Sun Hung Kai Properties in 1963. He left the property giant in 1963 and founded Henderson Land which grew to become one of Hong Kong’s largest developers with a current land bank of about 20 million square feet.
His business empire extends beyond property to other sectors including utilities and transportation with his ownership in Towngas and Hong Kong Ferry Company. Within finance, he served as the director of Bank of East Asia.
Lee was also known for his philanthropic contributions through donations of large sums for scholarships as well as capital and education projects in Hong Kong and across China through the Lee Shau Kee Foundation.
