Hong Kong mourns property tycoon Lee Shau-kee after his passing

Hong Kong's prominent business and political leaders gathered to pay tribute to the influential property tycoon Lee Shau-kee, who passed away at the age of 97 on March 17. Lee was a significant figure in Hong Kong's real estate market and was known for building one of the largest real estate empires in the former British territory. In February, Forbes ranked him as the city's second-richest person with assets valued at $29.2 billion. Lee's contributions extended beyond the real estate sector; he was involved in various industries including hotels, utilities, and ferries. Lee was affectionately referred to as 'Uncle Four' and was once recognized as the richest man in Asia and the fourth-wealthiest person in the world in 1996. Throughout his career, he played a pivotal role in the postwar economic boom of Hong Kong, meeting with eminent Chinese leaders like Deng Xiaoping and Jiang Zemin, which significantly facilitated his business growth in the region. Lee served as the chairman and managing director of Henderson Land, a major property development company, until he stepped down in 2019, passing the reins to his sons Peter Lee and Martin Lee. In recognition of his extensive contributions to education and community service, the Hong Kong government awarded Lee the Grand Bauhinia Medal in 2007, a prestigious honor reflecting his influence in the education sector and his philanthropic efforts. Following his death, several key figures, including current and former officials, as well as business tycoons, paid their respects during a vigil, highlighting the profound impact Lee had on the city. His funeral committee included prominent leaders such as John Lee, Tung Chee-hwa, and Zheng Yanxiong, further underscoring his significance in Hong Kong’s business and political landscape. Buddhist rites were performed during the service, which reflected the importance of tradition and respect in honoring Lee's legacy. After the service, Lee's body was scheduled to be transported to his ancestral homeland in Shunde district, Guangdong province, China. This connection to his birthplace echoes a common narrative among many top business leaders in Hong Kong, showcasing a blend of local heritage and international business prowess. Known for his sharp investment skills, he held a reputation similar to that of Warren Buffett, being a prominent figure in philanthropy and community development for both Hong Kong and mainland China.