Cheng Yu-tung

$14.50 B

Ranked #58 in World

About Cheng Yu-tung

Hong Kong tycoon Cheng Yu-tung, celebrated for his vast empire spanning property, hotels, infrastructure, jewelry, and transportation, and ranked as the world's 58th and Hong Kong's 3rd wealthiest person by Forbes with a fortune of US$16.6 billion, passed away on September 26, 2016. Born on August 8, 1925, in Guangdong, China, Cheng's journey from a goldsmith apprentice in Macau to the founder of Chow Tai Fook Enterprises showcases a remarkable odyssey of entrepreneurial success. His ventures included the iconic Sheraton Marina hotel and New World Group, alongside partnerships with figures such as Donald Trump. Cheng also held a distinctive role as the honorary consul for Bhutan in Hong Kong. His legacy continues through his four children and his significant contributions to Hong Kong's business landscape.

Born

August 27, 1925 in Shunde, Guangdong, Republic of China

Died

September 29, 2016 (aged 91)

Source Of Wealth

Diversified

Industries

Real Estate

Citizenship

Hong Kong

Spouse

Chow Tsui-ying

Children

Cheng Yu-tung was born on August 8, 1925, in rural Shunde District, Guangdong, China. He grew up in a humble family and faced hardships during his early years. In 1940, at the age of 15, he fled to Macau to escape the advancing Japanese occupation of China.

Cheng Yu-tung: Family

Cheng Yu-tung married Chow Tsui-ying in 1943, and they had four children together: Henry Cheng, Peter Cheng, Amy Cheng, and Lai-ha Cheng. His wife, Chow Tsui-ying, passed away in 2019.

Cheng Yu-tung: Career Highlights

Cheng Yu-tung's career took off when he apprenticed at a goldsmith shop in Macau. He eventually married the boss's daughter and gained valuable experience in the jewelry industry. In 1946, he moved to Hong Kong and opened the first Chow Tai Fook store, which laid the foundation for his business empire.

Cheng Yu-tung founded Chow Tai Fook Enterprises, which operates the Sheraton Marina hotel and controls New World Group, a publicly listed property developer. He also had interests in Shun Tak Holdings and Macau casino operator Sociedade de Turismo e Diversoes de Macau. Additionally, he partnered with Donald Trump in real estate investments.

Cheng Yu-tung: Companies

Cheng Yu-tung's business ventures spanned various industries, including property development, hotels, infrastructure, jewelry retailing, and transportation. His notable companies include:

Chow Tai Fook Enterprises
New World Group
Shun Tak Holdings
Sociedade de Turismo e Diversoes de Macau

Cheng Yu-tung: Major Achievements

Cheng Yu-tung achieved remarkable success in business and was recognized for his contributions. Some of his major achievements include:

Ranked 58th wealthiest person in the world and 3rd in Hong Kong by Forbes, with a net worth of US$16.6 billion.
Served on the board of Hang Seng Bank, Hong Kong's third-largest bank.
Honorary consul for the Kingdom of Bhutan in Hong Kong.

Cheng Yu-tung: Awards & Achievements

Cheng Yu-tung received numerous awards and accolades throughout his career, including:

Gold Bauhinia Star, Hong Kong's highest honor, in 2005.

Grand Bauhinia Medal, Hong Kong's second-highest honor, in 1997.
Commander of the Order of the British Empire (CBE) in 1982.

Cheng Yu-tung: Personal Life & Legacy

Cheng Yu-tung was known for his philanthropic efforts and contributions to society. He established the Cheng Yu-tung Foundation to support education, healthcare, and cultural initiatives. He also donated generously to various charitable causes. Cheng Yu-tung passed away on September 26, 2016, in Hong Kong, after suffering a brain hemorrhage in 2012. He left behind a legacy of business acumen, philanthropy, and community service.

Cheng Yu-tung: Trivia

Cheng Yu-tung was a devout Buddhist and practiced meditation daily.
He was an avid art collector and had a passion for Chinese antiques.
Cheng Yu-tung was known for his humble demeanor and simplicity despite his immense wealth.

Wealth History

Timeline

August 8, 1925

Cheng Yu-tung was born in rural Shunde District, Guangdong, China.

1940

Cheng Yu-tung fled to Macau to escape the advancing Japanese occupation.

1943

Cheng Yu-tung married Chow Tsui-ying.

1946

Cheng Yu-tung moved to Hong Kong and opened the first Chow Tai Fook store.

2012

Cheng Yu-tung suffered a brain hemorrhage.

September 26, 2016

Cheng Yu-tung died in Hong Kong.

Cheng Yu-tung : FAQs

What is Cheng Yu-tung's net worth?

As of 2016, Cheng Yu-tung's net worth was $14.50 billion.

What are Cheng Yu-tung's main sources of wealth?

Cheng Yu-tung's main source of income comes from Diversified.

In which industry does Cheng Yu-tung primarily operate?

Cheng Yu-tung is primarily involved in the Real Estate industry.

Is Cheng Yu-tung dead?

Yes, Cheng Yu-tung died on September 29, 2016 (aged 91).

How many children does Cheng Yu-tung have?

Cheng Yu-tung has 4 children.

Who was Cheng Yu-tung and why is he famous?

Cheng Yu-tung was a Hong Kong billionaire known for his extensive business interests in property, development, hotels, infrastructure, jewelry retailing, and transportation. He founded Chow Tai Fook Enterprises and controlled New World Group, making significant impacts in various industries.

How did Cheng Yu-tung start his career and become successful?

Cheng Yu-tung began his career as an apprentice at a goldsmith shop in Macau. His journey to success took a pivotal turn when he moved to Hong Kong in 1946 and opened the first Chow Tai Fook store. He expanded his business into a diverse range of sectors including property and hotels, establishing a vast business empire.

What were some of the key businesses and partnerships of Cheng Yu-tung?

Cheng Yu-tung founded Chow Tai Fook Enterprises, controlled New World Group, had interests in Shun Tak Holdings and Macau casino operator Sociedade de Turismo e Diversoes de Macau, and partnered with Donald Trump in real estate investments. He was a prominent figure in various industries.

When did Cheng Yu-tung pass away and what causes led to his death?

Cheng Yu-tung passed away on September 26, 2016, in Hong Kong. He had suffered a brain hemorrhage in 2012, which contributed to his death.