The Passing of a Legend: Remembering Lee Shau Kee
The Hong Kong property magnate Lee Shau Kee, one of the city’s most affluent individuals, passed away on Monday, March 17, at the age of 97. Henderson Land, the company he founded, announced his demise in a statement, marking the end of an era for a man whose influence extended far beyond the real estate sector.
A Humble Beginning: The Early Life of Lee Shau Kee
Born into a middle-class family in the Guangdong province of southern China, Lee Shau Kee’s early life was marked by modest means. His family operated gold and silver shops, instilling in him a strong work ethic and entrepreneurial spirit. Nicknamed "Uncle Four" as the fourth oldest among his siblings, Lee’s journey began in earnest when he moved to Hong Kong at the tender age of 20. This pivotal move set the stage for his future endeavors.
Building an Empire: The Rise of Henderson Land
In 1976, Lee founded Henderson Land, a company that would become a cornerstone of his business empire. Over the years, he steered the company to prominence, not just in real estate but also in diverse sectors such as energy, retail, and transport. His strategic acumen and ability to foster relationships with influential figures, including former Chinese leaders like Deng Xiaoping and Jiang Zemin, were instrumental in his success.
Enjoying the Spotlight: The Public Persona of Lee Shau Kee
Unlike many of his contemporaries, Lee embraced the spotlight, often sharing his insights on various issues. Known affectionately as "Hong Kong’s Warren Buffett," he was not shy about offering advice, urging young people to delay marriage until they achieved financial stability. His charismatic presence and willingness to engage publicly endeared him to many.
A Shrewd Investor: Navigating the Markets
Lee’s investment prowess was legendary. His strategy of buying real estate stocks proved highly lucrative, quadrupling his fortune before the 2008 financial crisis. However, his forays into equity investments in state-owned enterprises like Bank of China and PetroChina were not without challenges, leading him to humorously describe himself as a "fake god of stocks," showcasing his humility and resilience.
A Legacy of Giving: Philanthropy and Beyond
Philanthropy was a cornerstone of Lee’s legacy. He generously donated billions to charities in both Hong Kong and mainland China. Notably, in 2018, he fulfilled a promise to donate HK$1 billion to charity when Hong Kong’s Hang Seng Index reached 30,000 points, exemplifying his commitment to giving back. He leaves behind a legacy of business acumen, philanthropic efforts, and a family that includes two sons and three daughters, ensuring his impact endures through future generations.
Lee Shau Kee’s life was a testament to resilience, strategic brilliance, and generosity. From his modest beginnings to his status as a legendary tycoon, his influence on Hong Kong and beyond remains immeasurable. His passing is a reminder of the enduring legacy he built, inspiring future generations to emulate his entrepreneurial spirit and commitment to giving.
