Hong Kongs Immobilien-Mogul Lee Shau Kee dies at the age of 97

Hong Kongs Immobilien-Mogul Lee Shau Kee dies at the age of 97

The Hong Kong real estate magazine Lee Shau Kee, one of the richest men in the city, died on Monday at the age of 97. This was announced by the Henderson Land group he founded in a message.

early life and ascent

LEE, who got the nickname "Onkel four" due to his position as a fourth oldest brother, was born in a mid-range family who operated gold and silver jewelry in South Chinese Guangdong. At the age of 20 he moved to Hong Kong and founded his own real estate company, Henderson Land in 1976. Until his retirement in May 2019, he stayed as chairman of the company.

The legacy of Lee Shau Kee

The company is now led together by its two sons, Peter and Martin Lee. Lee Shau Kee was attributed to an estimated property of $ 30 billion by Forbes before his death. Like many other wealthy families in Hong Kong, Lees Empire extended beyond the real estate sector and included investments in companies in the areas of energy, retail and transport. His success was also based on a close relationship with former Chinese leaders.

political relationships and public statements

As part of a delegation Hong Kong Tycons, Lee traveled to China to meet the former Chinese state leader Deng Xiaoping. Photos on his personal website also show him alongside the late President Jiang Zemin. In contrast to recent generations of the extremely wealthy Hong Kong, who rarely speak publicly, the first generation enjoyed the public and openly commented on many topics.

advice for the youth

Lee encouraged the young people not to marry too early if they had no stable income because it was difficult to build a career after raising children. In addition to the nickname "Uncle Vier", Lee was also called "Warren Buffett von Hong Kong".

investment strategies and financial crises

"The purchase of real estate shares is more lucrative than operating real estate transactions," he said, while his assets quadrupled within a few years before the stock market collapsed in 2008. Before the financial crisis, he was actively in stock investments in the 2000s, including in Chinese state companies such as the Bank of China and Petrochina, and spoke publicly about his experiences.

philanthropy and legacy

After a decline in his investments and complaints from some small investors who had followed his example, he joked that he was only a "false stock god". Lee was a philanthropic that donated billions of dollars both in Hong Kong and on the Chinese mainland. In 2018 he kept his promise to donate $ 1 billion in Hong Kong $ ($ 128.70 million) to charity organizations when the Hang Seng Index reached the 30,000-point mark.

he leaves two sons and three daughters.