Bloomberg Billionaires Index

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#29 Lee Shau Kee $25.2B

Random fact: Reportedly paid HK$100 million for youngest son's wedding in 2006.

Overview

Lee is the founder and largest shareholder of Henderson Land Development, a publicly traded real estate conglomerate. The Hong Kong-based company had assets of HK$355.5 billion ($45.8 billion) as of Dec. 31, 2016. The property developer also operates in financial services, department stores, hotels and infrastructure.

As of Oct. 17, 2017:
Last change +$327M (+1.3%)
YTD change +$6.90B (+37.7%)
Industry Real Estate
Biggest asset 12 HK Equity
Citizenship Hong Kong
Age 89
Wealth Self-made
View net worth over:   Max 1 year 1 quarter 1 month 1 week

Relative Value

Lee Shau Kee's net worth of $25.2B can buy ...

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of U.S. existing home sales
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Latest News

Net Worth Summary

Cash
Private asset
Public asset
Misc. liabilities
Confidence rating:

The majority of Lee's fortune derives from his 73 percent stake in Henderson Land Development, a publicly traded property developer. He owns the shares directly and through eight trusts and holding companies, according to a June 21, 2017 filing to the Hong Kong stock exchange.

Lee also owns 2 percent of Sun Hung Kai Properties, 23 percent of Sunlight Real Estate Investment Trust and less than 1 percent of Hong Kong Ferry directly, according to filings with the Hong Kong stock exchange.

His indirect stakes in Sun Hung Kai Properties, Hong Kong Ferry and Sunlight Real Estate Investment Trust are held through Henderson Land Development and are not included separately in the net worth calculation, to avoid double-counting.

The value of his cash holdings is based on an analysis of calculated dividends, market performance and taxes.

Lee's publicly held stakes were confirmed by Henderson Land executives. They declined to comment on his closely held assets.

Biography

Birthdate: 1/29/1928
Family: Divorced, 5 children
Education:

Lee Shau Kee was born in 1928, the son of a Guangdong currency and gold trader. His father, Lee Kai-Po, ordered his two sons to flee the communist takeover of China in 1948. Lee was dispatched to Hong Kong, finding work as a currency and gold dealer. His brother escaped to Macau.

Lee and seven partners, including Kwok Tak Seng and Fung King Hey, created a real estate business in 1958. Five years later, he founded Sun Hung Kai Properties with Kwok and Fung. The developer prospered as Hong Kong land values soared in the 1960s. All three men eventually became billionaires.

Lee left Sun Hung Kai in 1973 to form Henderson Development. Lee's empire diversified into real estate management, hotels, natural gas distribution and a department store chain. He boosted Henderson's Hong Kong land bank to about 21.2 million square feet by June 30, 2011, buying up old buildings and farmland, mostly in the New Territories, as prices fell during the 2008 financial crisis. Henderson Land's agricultural land reserve now stands at 41.4 million square feet and is the largest holding among all property developers in Hong Kong.

Milestones
  • 1928 Born in Guangdong, China.
  • 1948 Lee arrives in Hong Kong, working for a currency and gold dealer.
  • 1963 Forms Sun Hung Kai with partners Kwok Tak Seng and Fung King Hey.
  • 1973 Leaves Sun Hung Kai, creates Henderson Development.
  • 1981 Henderson Land Development goes public in Hong Kong.
  • 1982 Becomes majority shareholder of Hong Kong & China Gas.
  • 1989 Founds Citistore department store chain.
  • 2014 Meets with China President Xi a week before the start of Hong Kong protests.