Henderson Land Development’s founder Lee Shau-kee, one of Hong Kong’s wealthiest developers and biggest philanthropists, died on Monday. He was 97 in the Chinese tradition, which adds a year to the age of the deceased.
Lee died peacefully, surrounded by his family, the company said in a statement.
The entrepreneur, known affectionately as “Fourth Uncle” by his staff and associates, built a business empire comprising seven Hong Kong-listed companies with a combined market value of HK$551 billion (US$71 billion) as of March 17, with interests in real estate, hotels, piped gas and a ferry operation.
Lee, who is survived by five children, stepped down as chairman and managing director of Henderson in May 2019. His eldest son Peter Lee Ka-kit and younger son Martin Lee Ka-shing were appointed as joint chairmen and managing directors of one of Hong Kong’s largest developers, while the elder Lee remained as an executive director.
Before his retirement, Lee was the chairman of The Hong Kong and China Gas Company, also known as Towngas. He was an executive director of Henderson Investment and a non-executive director of Miramar Hotel and Investment and Hong Kong Ferry (Holdings). He was also vice-chairman of Sun Hung Kai Properties until November 2020.