The big four families include those of renowned tycoons Li Ka Shing, Lee Shau Kee, Kwok Tak Seng, and Cheng Yu Tung, most of whom started from humble beginnings and rose to the top in the 20th century.
Kwok and Lee were two of the three businessmen who founded of property developer Sun Hung Kai Properties in 1963.
Born in Macau, Kwok grew up in a family that ran a grocery business. After moving to Hong Kong with his family, he opened a grocery store, which also sold industrial materials. The store later expanded and became a grocery wholesaler.
In 1952, Kwok founded Hung Cheong Import & Export, which specializes in wholesale foreign goods. He was active in Hong Kong’s import-export business, with sales reaching Macau and Southeast Asia, earning him the nickname of “King of Foreign Goods.”
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The founders of Hong Kong’s big four families, from left to right: Kwok Tak Seng, Cheng Yu Tung, Lee Shau Kee, and Li Ka shing. Photo courtesy of Sun Hung Kai Properties and Reuters |
He passed away in late 1990 at the age of 79. After his death, the Kwok family experienced turmoil due to a power struggle among his three sons.
Cheng was the founder of jewelry firm Chow Tai Fook and property developer New World Development, according to Enanyang.
Born in 1925, Cheng had a life full of ups and downs. Despite only completing primary school, he worked his way up from an apprentice at a gold shop to becoming one of the four richest individuals in Hong Kong through sheer determination. He passed away in the fall of 2016 at age 91.
Lee, born in 1928 in China’s Guangdong province, moved to Hong Kong in his twenties to build his career, as per Bloomberg.
He started with gold and foreign currency trading before shifting to real estate, where he found great success. The Lee family owns Henderson Land Development, a major real estate conglomerate that has been a dominant force in Hong Kong’s property market for decades.
He retired in 2019, handing over the business to his two sons, Peter Lee Ka Kit and Martin Lee Ka Shing, while also leaving some assets for his three daughters.
Known as “Hong Kong’s Warren Buffett,” he passed away on March 17 at the age of 97.
That leaves only billionaire Li Ka Shing, who is now 96 years old. Born in the same year and province as his friend-turned-rival Lee Shau Kee, Li dropped out of school at a young age and started his career selling plastic flowers.
He amassed his fortune through real estate investments and went on to become Hong Kong’s richest man for decades, holding the title from 1998 to 2019, according to Forbes.
His health has declined over the years and he now relies on a wheelchair and assistance when moving around. The tycoon retired in 2018, handing over the family business to his eldest son, Victor Li Tzar Kuoi.
