The Billionaire Property Magnate Leaves Behind a Legacy of Real Estate Success and Philanthropy
Hong Kong property tycoon Lee Shau Kee, founder of Henderson Land, passed away on Monday (Mar 17) at the age of 97, the company confirmed in a statement.
From Modest Beginnings to Property Giant
Born into a family that owned gold and silver businesses in Guangdong, Lee was the fourth oldest among his siblings, earning him the nickname “Uncle Four.” At 20, he moved to Hong Kong and later founded Henderson Land in 1976, building it into one of the city’s most influential property empires.
He served as chairman until stepping down in May 2019. His sons, Peter and Martin Lee, now oversee the company, which remains a major force in real estate. Before his passing, Lee had an estimated net worth of US$30 billion, according to Forbes.
A Legacy Beyond Real Estate
Lee’s business empire extended beyond property, with investments spanning energy, retail, and transport. His success was partly attributed to strong ties with Chinese leadership—he was part of a delegation of Hong Kong tycoons who met former leader Deng Xiaoping and was once photographed beside former President Jiang Zemin.
Unlike younger generations of Hong Kong billionaires who shy away from public attention, Lee was vocal about social issues. He famously advised young people to delay marriage until achieving financial stability.
Dubbed “Hong Kong’s Warren Buffett,” Lee was a firm believer in real estate stocks. “Investing in property shares is more profitable than running a real estate business,” he once said. However, after the 2008 market crash and losses in his stock investments, he humorously referred to himself as a “fake god of stocks.”
Philanthropy and Final Contributions
A generous philanthropist, Lee donated billions to causes in Hong Kong and mainland China. In 2018, he fulfilled a pledge to donate HK$1 billion (US$128.7 million) when the Hang Seng Index reached 30,000 points, demonstrating his commitment to giving back.
Lee Shau Kee leaves behind a lasting impact on Hong Kong’s property landscape, financial world, and philanthropic sector.
