Sons of Late Hong Kong Real Estate Developer Inherit $3 Billion
- Walter Kwok, the former Sun Hung Kai chairman, died in October
- He was kidnapped in 1997 by a gang leader named ‘Big Spender’
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Two sons of Walter Kwok, a Hong Kong developer once kidnapped for ransom and later ousted as chairman following a public family squabble, inherited a $3.1 billion stake in Sun Hung Kai Properties Ltd.
Geoffrey and Jonathan Kwok are the beneficiaries of a trust with 211 million shares, according to regulatory filings in Hong Kong that don’t disclose the exact amounts each heir received. Representatives of Sun Hung Kai, Hong Kong’s biggest real estate developer with a market value of about $41 billion, didn’t reply to a request for comment.