Pursuits
Cheng Yu-Tung, Hong Kong Jeweler Turned Billionaire, Dies
- Tycoon formerly headed Chow Tai Fook, New World Development
- Jewelry mogul was Hong Kong’s third-richest billionaire
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Cheng Yu-tung, a gold-shop apprentice who married his boss’s daughter and helped develop the world’s largest jewelry retailer, has died. He was 91.
Cheng died peacefully with his family at his side Thursday night, his family said in an e-mailed statement. Arrangements and details of the funeral service will be announced later, according to the statement.