Wealth
Hong Kong's Property Tycoons Hand Over $109 Billion in Empires to Heirs
- 91-year-old’s sons to succeed as joint-chairmen of Henderson
- Other families to have already passed baton include Li, Cheng
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The last of Hong Kong’s ‘Big Four’ property dynasties is handing over the reins to a younger generation, completing a flood of successions at family empires worth $109 billion.
Lee Shau Kee, the city’s second-richest man, announced his plans to step down as chairman of Henderson Land Development Co. Tuesday. He’ll be succeeded by his two sons. Lee’s retirement comes one year after Victor Li, son of Hong Kong’s richest man Li Ka-shing, took over the chairmanship of CK Hutchison Holdings Ltd. and CK Asset Holdings Ltd. from his father.