A commercial mogul, businessman, and philanthropist from Hong Kong, Lui Che Woo was born in Jiangmen, China, on August 9, 1929. In addition to being the founder and chairman of the publicly traded companies Galaxy Entertainment Group and K. Wah International Holdings Ltd., he is a member of the standing committee of the Chinese People’s Political Consultative Conference in Jiangmen, People’s Republic of China. He is also a gambling magnate from Hong Kong.
According to the Bloomberg Billionaires Index, he was the fourth richest individual in Hong Kong as of June 2021 with an estimated net worth of US $19.0 billion. The publicly traded casino operator Galaxy Entertainment and the real estate developer K. Wah International are both subsidiaries of the closely held Hong Kong conglomerate K. Wah Group, which is under Lui’s control. As one of Macau’s six gambling license holders, Galaxy competes with former Sheldon Adelson and Stanley Ho casinos.
Lui Che Woo Bio/Wiki
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After returning to China from San Francisco, where his family had built a fortune operating a laundry, Lui was born in 1929 in Jiangmen, Guangdong province.
Lui accompanied his family as they emigrated to Hong Kong in 1934 from war-torn China. After middle school graduation, Japanese forces occupied the city. At the age of 13, Lui started selling food on the streets of the British colony to help support his family.
Lui started purchasing excess construction machinery from US Marines in Okinawa in the 1950s and importing it to Hong Kong. When he was unable to sell several stone crushers, he opened a quarry. According to the company website, the 26-year-old later created K. Wah Group, which has grown to become Hong Kong’s largest quarrying operator.
The billionaire then shifted his focus to real estate development and made his first investment in a residential project in 1962. In East Tsim Sha Tsui, he started construction on his first hotel in Hong Kong in 1979. Originally known as a Holiday Inn, the location is now known as the InterContinental Grand Stanford Hong Kong.
One of the three gaming concessions put up by the government was won by Lui’s Galaxy Casino Co. and Sheldon Adelson’s Las Vegas Sands in 2002 when Macau ended the four-decade monopoly of local magnate Stanley Ho. After a falling out over strategy within a year, the partners separated the license: Adelson sought to replicate Las Vegas in China, while Lui wanted to appeal to Asian preferences.
In 2006, StarWorld Macau opened across the street from Ho’s Grand Lisboa, allowing gamblers to wager up to $250,000 per hand. After a two-year delay, his $1.9 billion, 2,200-room Galaxy Macau resort opened in 2011. The elderly man has shifted his focus to the golf course while Francis, his eldest son, manages his casino operation.
The San Francisco-based Stanford Hotels, which owns eight Hilton, two Sheraton, and three Marriott hotels in the US, is run by a younger son named Lawrence. Alexander, his third son, serves as executive director of K. Wah International and is in charge of the company’s properties in Hong Kong.
His youngest daughter Eileen works as director of human resources and administration at Galaxy Entertainment, while his eldest daughter Paddy is an executive director of both K. Wah International and Galaxy Entertainment.
Lui Che Woo Personal Life
Lui Che Woo is married and has 4 children, Francis Lui Yiu Tung, Yiu Wah Alexander Lui, Lawrence Lui, and Paddy Tang Lui Wai Yu Francis Lui Yiu Tung studied at the University of California at Berkley in the United States, where he graduated with a Bachelor of Science in civil engineering.
He went on to earn a master’s in structural engineering after graduating. In 1979, he joined the Group founded by his father. In addition to being the Deputy Chairman, he is an executive director for the K. Wah Company. He serves on a number of boards and committees and is the company’s chairman of the corporate governance committee.
Alexander Lui joined the K. Wah company in 1984 and currently holds the position of Executive Director. He is the Managing Director of Hong Kong Properties for his father’s group. In addition to being a committee member of the Guangzhou Committee of the 11th Chinese People’s Political Consultative Conference, he is a member of the Estate Agents Authority.
Lawrence Lui studied at the University of California, Berkeley, where he earned a degree in civil engineering as an undergraduate. He went on to the Massachusetts Institute of Technology to earn his Master of Science after graduating. In addition to serving as the company’s president and managing director, Lawrence Lui founded CreateLabs.
In addition, he serves as president of Cresleigh Homes Corporation, which he founded in 1984, and Stanford Hotels Corporation, Inc. Paddy Lui Wai Yu Tang, a graduate of McGill University in Canada with a bachelor’s degree in commerce, is the daughter of Lui Che. She works for Galaxy Entertainment Group Limited as a Member of the Executive Board. She serves on the Election Committee of the HKSAR as well as the Hong Kong Arts Development Council.
Between 1981 and 1982, Lui served as the Tung Wah Group of Hospitals’ chair. He is also a member of the board of trustees of United College of the Chinese University of Hong Kong, a founding honorary president of the University of Hong Kong Foundation of Educational Development and Research, a founding honorary member of the court of the Hong Kong University of Science and Technology, a member of the consultative committee of the Hong Kong Polytechnic University, and an honorary life chair of the Hong Kong Polytechnic University.
For the third term as chief executive of the Hong Kong Special Administrative Region, Lui was chosen in December 2006 by the small-circle Election Committee in the hotel sector. Since 2007, he has also been on the steering committee for MICE (Meetings, Incentives, Conventions, and Exhibitions) for the Hong Kong government.
The Stanford University Medical Center’s Lui Che Woo Research Laboratory has established in 1999 thanks to funding supplied by Lui. The Lui Che Woo Awards for CUHK/Cornell Student Exchange Programme in Hospitality Management were established in 2002 to promote academic exchanges between the School of Hotel and Tourism Management.
At the Hong Kong Polytechnic University, the Lui Che Woo Building is being built. The Lui Che Woo Institute of Innovative Medicine was established at the Chinese University of Hong Kong in 2012 thanks to a grant. In order to establish the Lui Che Woo Distinguished Young Scholars Award and the Lui Che Woo Distinguished Young Scholars Research Scholarship to support exceptional medical research students who wish to continue their education abroad, Lui pledged to donate HK$15.6 million to the Chinese University of Hong Kong in 2015.
The Lui Che Woo Prize – Prize for World Civilization was established by Lui in Hong Kong in 2015 to commemorate the 60th anniversary of the K. Wah Group. It is an international award that is intended to honor and recognize people or organizations for, among other things, the “promotion of positive life attitude and enhancement of positive energy.”
Support For Other Causes
Lui has received a number of honorary degrees in appreciation of his support for education and services to important causes. He received a Doctor of Laws, Honoris Causa degree from the University of Victoria in 2001.
The Chinese University of Hong Kong and the University of Hong Kong both awarded Lui an honorary university fellowship and the degree of Doctor of Social Science, Honoris Causa, in 2002.
He received an Honorary Doctor of Laws degree from Concordia University in 2004. Both the Doctor of Social Sciences, Honoris Causa, and the Doctor of Business Administration, Honoris Causa, degrees were given to Lui in 2005 by the University of Hong Kong and the Hong Kong Polytechnic University, respectively.
Lui Che Woo Net Worth
He is listed as the sixth-richest person in Hong Kong in 2017 by Forbes, which measures wealth as a percentage of GDP. He has a $16.1 billion personal net worth as of 2023. In 2016, he was ranked 151 on the list of the world’s top 200 billionaires. A 41 percent ownership share in Galaxy Entertainment, a publicly traded casino operator with its headquarters in Macau, is where the majority of Lui’s money comes from.
Additionally, he owns a 55 percent stake in K. Wah International, a property developer with operations in China and Southeast Asia, based in Hong Kong. Through holding companies and trusts registered in Liberia and Hong Kong, he and his family have shares in Galaxy and K. Wah. He is the founder and patriarch of the fortune, hence all of these shares are assigned to him.
His cash assets’ value is determined by looking at dividends, insider trading, taxes, and market performance. It also represents his ownership of Stanford Hotels through the privately held K. Wah Group.
His first hotel, the InterContinental Grand Stanford Hong Kong, is among the more than a dozen hotels in the US and Hong Kong that make up the hospitality industry. Lui’s spokesman Shelly Cheng, who is also the deputy general manager of corporate affairs at K. Wah, declined to comment on the amount of money Lui is worth.
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Galaxy Entertainment Group