The 11 Skies retail and commercial project near Hong Kong International Airport.
Photographer: Lam Yik/BloombergThe Big Take
New World’s Distress Is Cautionary Tale for Hong Kong’s Billionaire Families
The city’s great business dynasties are struggling to shake habits that made their founders rich — and wondering if their next generations can carry the legacy forward
In the rarefied world of the Cheng family, one of the wealthiest clans in Hong Kong, staff spoke of the unwritten rule: Never say no to the boss.
So lieutenants were hesitant to disagree when the eldest of the patriarch’s children, Adrian, came up with a grandiose plan for the business, people close to the family said. His pitch: A mall to end all malls, next door to the sleek Hong Kong International Airport.