Hong Kong billionaire Lee Shau Kee dies at 97 after leading real estate empire

In Hong Kong, Lee Shau Kee, a prominent billionaire property developer, passed away at the age of 97. Lee was best known for establishing and leading one of the largest real estate empires in the territory, known as Henderson Land Development Co. Ltd., which he founded in 1976. He served as both the chairman and managing director of the company until 2019, when his sons took on leadership roles. Under his guidance, the company developed notable landmarks, including the International Finance Centre complex and ifc mall, which are central to Hong Kong's commercial landscape. Lee Shau Kee was born in Guangdong province, China, and his exceptional business acumen helped him become one of Hong Kong’s wealthiest individuals. In 2019, Forbes listed him as the second-richest person in Hong Kong, with a net worth estimated at $30 billion. His impact extended beyond business; he was also recognized for his philanthropic efforts, making significant contributions to educational institutions in Hong Kong and mainland China. Notably, in 2007, he was awarded the Grand Bauhinia Medal by the Hong Kong government, honoring his outstanding service to education and community development. He died peacefully on a Monday evening, surrounded by family, though the cause of death has not been disclosed. Lee's leadership and vision not only shaped the landscape of Hong Kong’s real estate market but also influenced the educational system through his generous donations. Following his passing, tributes poured in from various quarters, including the Hong Kong leader John Lee, who praised him as an exemplary business leader and philanthropist. Lee is survived by his two sons and three daughters. His legacy as a real estate magnate and philanthropist will continue to influence both the economic and educational landscapes of Hong Kong. The mourning of his loss reflects both his significant contributions and the impact he had on the lives of many through his various initiatives and developments, marking the end of an era in the Hong Kong property sector.