With the official retirement of Lee Shau Kee , the era of Hong Kong's richest " four kings " officially came to an end.
On May 28, 91-year-old Lee Shau Kee announced his official retirement at the annual general meeting of Henderson Land and Hong Kong and China Gas Co., Ltd., handing over a business empire of HK$550 billion to his two sons Li Jiajie and Li Jiacheng_ span3span takes care of it. The press conference lasted only 10 minutes. Li Zhaoji sat quietly between his two sons, smiling all the time, without saying a word, and handing over the opportunity to answer questions to his two sons.
As a powerful figure in the real estate industry in Hong Kong, the official retirement of Lee Shau Kee also marks Hong Kong's " four major families" Li Ka-shing family, Guo Desheng family, Zheng Yutong family , The Lee Shau Kee family has all completed the handover.
Real estate tycoon
Real estate tycoon Lee Shau Kee has a laudable history.
In 1928, Lee Shau Kee was born in Daliang, Guangdong Shunde Daliang, because he ranked fourth in the family, he was called "four uncles". Since the age of 6, he has been working in his father's gold shop. At the age of 20, he came to Hong Kong to develop his own business, engaged in foreign exchange and gold business, and made his first pot of gold.
In 1963, Lee Shau Kee, Kwok Tak Shing, Fung King Hei founded Sun Hung Kai Enterprises Co., Ltd., mainly involved in real estate business. In 1972, Sun Hung Kai Properties went public,At that time, Lee Shau Kee was assigned land and properties worth 50 million yuan.
In 1975, the Hong Kong stock market began to recover. He established his own business and established Henderson Land Development Co., Ltd. (hereinafter referred to as "Henderson Land Development") with 150 million yuan, and went public in 1981.
With the recovery of Hong Kong's economy, Henderson Land has also entered the "Golden Era". From 1990 to 1996, Henderson Land's annual revenue rose from HK$4 billion to HK$15.3 billion, and its market value jumped from HK$13.6 billion to HK$132.5 billion.
Lee Shau Kee is also committed to diversification. Since the mid-1970s, he has successively acquired controlling interests in China Gas, Hong Kong China Gas, Hong Kong Ferry and Miramar Hotel Group, covering real estate, energy, hotels, transportation and retail, with a total market value of 514.3 billion yuan .
Lee Shau Kee's net worth has also risen with the company's business development, and once won the title of "Asia's richest man". From 1996 to 1997, Lee Shau Kee was the richest man in Asia for two consecutive years. However, the Asian financial crisis has shrunk its assets sharply, and the position of the richest man has given way to Li Ka-shing , who is looking for bargains in Europe and avoiding the Asian financial crisis.
Awarded 'Asian Stock King'
Lee Shau Kee's performance in the investment field is also particularly eye-catching, and is known as the "Asian Stock King" and "Hong Kong Buffett".
On December 15, 2004, 76-year-old Lee Shau Kee established Shau Kee Finance to manage the family's $6.5 billion investment worldwide. He successively spent huge sums of money to purchase the stocks of mainland central enterprises listed in Hong Kong, China Netcom, China Life Insurance, China Property & Casualty Insurance, China Power, PetroChina, China Shipping Lines, Ping An Insurance, Bank of Communications, COSCO Holdings, Shenhua Energy, Many companies such as China Construction Bank have received his favor and invested heavily.
In 2006, when Bank of China was listed in Hong Kong, Lee Shau Kee purchased another 1.314 billion shares (about 497 million US dollars), continued to support large central enterprises, and obtained high returns through this investment.
"Forbes" 2019 Hong Kong Rich List shows,Lee Shau Kee ranks second on the Hong Kong Rich List with a net worth of US$30 billion, second only to Li Ka-shing.
From left: Li Ka-shing, Li Shau Kee, Li Wenda
The four kings have all completed the handover
Lee Shau Kee's retirement has been brewing for many years. As early as March 20, Lee Shau Kee revealed his retirement plan. At that time, Henderson Land announced that Li Zhaoji, chairman and general manager of the company's board of directors, will officially consider retirement, and his two sons will serve as chairman and general manager.
Lee Shau Kee has a clear division of labor between his two sons. He has publicly stated that the second son Li Jiacheng is mainly responsible for the Hong Kong business, and the mainland business is handled by the eldest son of Li Jiajie.
The eldest son, Li Jiajie, is 56 years old. He was educated in the UK. He joined Henderson Land Development in 1985 and served as an executive director. In 1993, he became the vice chairman. Li Jiajie is completely different from other rich second-generations. He has never been isolated from the nightlife and is still unmarried. He is addicted to the tea ceremony and loves Chinese culture. In 2010, he spent several million yuan to have children through surrogacy, adding 3 grandchildren to Li Zhaoji.
The second son, Li Jiacheng, is 48 years old. After graduating from Canada in 1993, he joined Henderson as a personal assistant and served as the company's executive director. In 2005, he became the vice chairman. On December 15, 2006, Li Jiacheng married artist Xu Ziqi in Sydney, Australia, known as the "700 million yuan wedding of the century".
The retirement of Lee Shau Kee this time means that all the four major families in Hong Kong have taken over.
Since the 1970s, Li Ka-shing of Cheung Kong , Zheng Yutong of New World, the Kwok family of Sun Hung Kai Properties, and Li Shau Kee of Henderson Land have been known as the "Four Kings" of Hong Kong, and they control almost half of Hong Kong. economic lifeline.
Li Ka-shing's business map covers at least 14 industries including real estate, aviation, ports, retail, and infrastructure.On March 16, 2018, Li Ka-shing, who was nearly 90 years old, announced his retirement, and his eldest son Li Zeju became Li's successor.
Zheng Yutong's family business has entered the game from the other side. The Chow Tai Fook Jewellery and Gold Co., Ltd. is involved in jewellery and hotels. Zheng Yutong had handed over his son Zheng Jiachun as early as 1989. Two years later, Zheng Yutong returned, until Zheng Jiachun took over the baton for the second time in 2012. At present, the third generation of the Zheng family Zheng Zhigang has begun to participate in the family business business.
The Kwok Tak-sheng family controls many of Hong Kong's major mobile phone operators and the largest bus company. In 1990, Guo Desheng passed away, Guo Bingxiang accepted Xindi, and in 2007 Guo brothers broke out infighting. In 2014, the parties reconciled. Mrs. Guo came forward, the three brothers shared the equity equally, and Guo Bingxiang established his own business. Currently, the Guo family is run by Guo Binglian , whose two sons have become executive directors of SHKP.
When judging Li Shau Kee, Li Ka-shing, Kwok Tak-sing and Zheng Yutong, an authority in the real estate industry in Hong Kong once made such comments: Cheung Kong Industrial is brilliant and brilliant; Sun Hung Kai Properties is stable and promising; New World Development is courageous; Industry is far-sighted and has a head start.
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