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Hong Kong Property Tycoon Gave Away Children’s $400m Inheritance

  • Alex Shih’s dad gave $400 million Centaline stake to charity
  • Like many other Hong Kongers, Shih is saving for first house
Bloomberg business news
HK Tycoon Gave $400M Stake to Charity

The heir to the biggest real estate agency in property-mad Hong Kong doesn’t own a house.

Not only that, he won’t inherit his father’s stake in Centaline Group, estimated to be worth about $400 million according to the Bloomberg Billionaires Index, because it was donated to charity more than a decade ago.