Lee Shau-kee becomes Hong Kong’s wealthiest man on his retirement day, as he hands over Henderson’s reins to his two sons
- Lee Shau-kee has officially stepped down after Henderson Land’s annual general meeting, handing control of the company to his two sons
- Lee’s wealth is estimated at US$31.9 billion by Forbes, overtaking Li Ka-shing’s estimated US$29.6 billion, after 12 years in second place
Henderson Land Development’s founder Lee Shau-kee became Hong Kong’s wealthiest man on his retirement day, as he handed over the reins of his property company to his two sons, joining a list of the city’s ageing tycoons to make way for their scions to take over.
Lee, who turned 90 in March, is stepping away “due to his advanced age”, Henderson said in a stock exchange filing overnight. The tycoon did not speak during a press conference held after Henderson’s annual shareholders’ meeting on Tuesday morning, due to a throat ailment.
Known affectionately as Fourth Uncle in Hong Kong, Lee will be succeeded by his two sons Peter Lee Ka-kit and Martin Lee Ka-shing, who will take over the reins as joint chairmen and managing directors.
In a media statement from Henderson, sent before the press conference, Lee said that he would remain involved and advise on important decisions of the company as a director.
