Hong Kong’s well-known property tycoon, Lee Shau Kee, died on Monday at 97. Henderson Land, the company he founded, confirmed his death. Lee was one of the richest men in Hong Kong and the 63rd wealthiest person in the world. Before Hong Kong’s handover in 1997, he was the world’s fourth-richest man.
He was called “Uncle Four” because he was the fourth oldest among his siblings. He was born into a family that ran gold and silver shops in Guangdong, a province in southern China.
Lee Shau Kee moved to Hong Kong at the age of 20. In 1976, he started his own real estate company, Henderson Land. He led the company as chairman until he retired in May 2019.
Today, his two sons, Peter and Martin Lee, manage the company. Before his death, Forbes estimated his fortune at $30 billion.
Lee’s business empire extends far beyond real estate. His companies also have interests in energy, retail, and transport. Like other major business leaders in Hong Kong, his success is partly linked to strong ties with past Chinese leaders.
Lee Shau-kee, Hong Kong real estate tycoon and founder of Henderson Land Development, died today at the age of 97, one of Hong Kong’s ‘Big Four’ developers said today. Lee’s personal wealth was estimated to be USD27 billion last year, making him the second wealthiest man in Hong… pic.twitter.com/LpfXEldG0i
— Yicai 第一财经 (@yicaichina) March 17, 2025
Lee was part of a group of Hong Kong tycoons who met with top Chinese officials. He once visited China to meet with former leader Deng Xiaoping. Photos on his website also show him sitting next to Jiang Zemin, another former Chinese president.
Unlike younger billionaires in Hong Kong, who prefer to stay out of the public eye, Lee Shau Kee and his generation often spoke openly about social and economic issues.
He once advised young people to delay marriage if they did not have a stable income. He believed the costs of raising children could make it harder to focus on building a career.
Besides being nicknamed “Uncle Four,” people called him “Hong Kong’s Warren Buffett” for his sharp investment skills.
Lee saw great profits in real estate stocks. “Buying real estate stocks is more profitable than doing real estate business,” he once said. His wealth grew four times in just a few years. However, the stock market crash in 2008 later reduced his fortune.
Before the financial crisis, Lee Shau Kee was heavily involved in stock investments. In the early 2000s, he invested in major Chinese state-owned companies like Bank of China and PetroChina. He often spoke publicly about his investment experiences.
However, when the market turned, his investments suffered losses. Some small investors who had followed his example sent him complaint letters. In response, he humorously called himself a “fake god of stocks.”
Lee was also known for his generosity. He donated billions of dollars to causes in Hong Kong and mainland China. In 2018, he fulfilled a promise to give $128.7 million (HK$1 billion) to charity when Hong Kong’s stock market reached 30,000 points.
