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Hong Kong's Second Richest: Tycoon Lee Shau Kee Passes Away at 97

W. Syaban

March 22, 2025

Lee Shau Kee, a Hong Kong billionaire property developer who led one of the biggest real estate empires, has died at the age of 97.

The firm he established announced that Lee passed away on Monday night calmly, surrounded by his loved ones. The reason for his death was not disclosed.

In 1976, Lee established Henderson Land Development Co. Ltd., where he served as both chairman and managing director up until 2019. Following him, his sons Peter Lee and Martin Lee took over as co-chairpersons of the company.

According to Forbes' most recent rankings, Lee was named as the second wealthiest individual in Hong Kong, with a net worth of $29.2 billion.

Henderson Land boasts properties such as the International Finance Center complex and IFC Mall in Central, which is a bustling commercial hub.

Lee was born in the Guangdong province, which is located along the coast of southern China facing Hong Kong. In 1948, he relocated to the city where he emerged as a prominent figure in the real estate sector.

Similar to other wealthy figures from Hong Kong, Lee played a significant role as a major philanthropist contributing to the growth of both Hong Kong and mainland China. In 2007, he received the prestigious Grand Bauhinia Medal from the Hong Kong government for his exceptional contributions to education and community services.

The leader of Hong Kong, John Lee, conveyed his sympathies regarding the passing of the businessman and commended him as an exceptional figure in both commerce and entrepreneurship. He emphasized the individual’s considerable contributions through charitable gifts to numerous institutions of higher learning across Hong Kong and mainland China, along with their efforts in fostering young talents.

Lee Shau Kee leaves behind two sons and three daughters whom he shared with his former wife.

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