(Yicai Global) March 21 -- Hong Kong's second-richest man Dr. Lee Shau-kee is considering to let his two sons take over the reins of Henderson Land Development at his mature age of 90.
Lee is paving the way for Peter Lee Ka Kit and Martin Lee Ka-shing to serve as the property developer's co-chairs and general managers, if the shareholders' meeting on May 28 accepts his plan to resign as chairman, the Hong Kong-based firm said in a statement yesterday. The founder would stay onboard as a director.
Lee is the last first-generation billionaire to retire among Hong Kong's 'Big Four Families' including those of Li Ka-shing, Cheng Yu-tung and Kwok Tak-seng. Hong Kong's richest man Li waited until he was 89 to resign as the chairman of CK Hutchison Holdings and CK Asset Holdings last May, naming his eldest son, Victor Li Tzar-kuoi, as the successor.
Born in Shunde in Guangdong province, Lee left for Hong Kong in his teens, and built an empire of six listed companies, including Miramar Group hotel manager and Towngas, Hong Kong's sole supplier of natural gas. His real-time net worth is USD31.2 billion, giving him the 29th rank on Forbes' global billionaires list.
In addition to purchasing property, Lee has been an avid stock investor, buying the dips of the dot-com bubble and the post-9/11 terrorist attacks. He used to prepare a piece of paper filled with investment advice when having interviews with the media.
Editor: Emmi Laine