HONG KONG — Renowned billionaire and property magnate Lee Shau Kee, a key figure in shaping Hong Kong’s real estate landscape, has passed away at the age of 97. Henderson Land Development Co. Ltd., the company Lee founded, announced his peaceful passing on Monday evening, surrounded by his family. The cause of death was not disclosed.
Lee Shau Kee was the driving force behind Henderson Land Development, a business he established in 1976 and led as chairman and managing director until 2019. Upon his retirement, leadership was transferred to his sons, Peter and Martin Lee, who took on the roles of chairpersons. According to Forbes, Lee was ranked as Hong Kong’s second-richest individual, boasting a net worth of $29.2 billion.
Henderson Land is recognized for its significant contributions to Hong Kong’s skyline, including prestigious developments such as the International Finance Centre complex and ifc mall in Central, a bustling business hub. Lee’s journey began in Guangdong province, a region across the bay from Hong Kong, where he was born. He relocated to Hong Kong in 1948, rapidly becoming a pivotal figure in the property sector.
In addition to his business acumen, Lee Shau Kee was known for his philanthropy, supporting various educational and community initiatives in Hong Kong and mainland China. His philanthropic work earned him prestigious accolades, including the Grand Bauhinia Medal awarded by the Hong Kong government in 2007. This honor recognized his significant contributions to education and social services.
Hong Kong’s Chief Executive, John Lee, paid tribute to the late tycoon, acknowledging his exceptional leadership in the business world and lauding his charitable donations to universities in Hong Kong and China. John Lee commended Lee Shau Kee’s dedication to fostering talent and his lasting impact on the region.
Lee Shau Kee is survived by his two sons and three daughters, whom he shared with his former spouse.
