About Joseph Lau
Joseph Lau is 67 years old Chinese businessman who is well known for holding around 61 percent stakes in Chinese Estates Holdings, a major Chinese investment company in Hong Kong.
Joseph was born on 21st July, 1951 in Hong Kong as Lau Luen-hung to Ip Sok Wun. He was raised in family as the older brother of two sisters and one brother Thomas. He attended University of Windsor in Canada before making a return to his hometown to carry on with his family business of electric fans.
He started his career by inheriting family business of electric fans. He shortly renamed the company as Evergo Industrial Enterprise which soon in 1983 held an initial public offering in Hong Kong. Lau then focused on establishing the business on investment holdings and property management services by holding majority of around 43 percent shares in the Chinese Estates through Evergo according to a 1986 Hong Kong stock exchange filing. This deal helped him to expand his real estate investments with further more acquisitions thus finishing building of
Hong Kong’s tallest retail complex, The ONE in 2010.
He even faced charges of bribery and money laundering in Macau in 2012 due to which he resigned from the position of chairman and CEO of Chinese Estates after the announcement of imprisonment for five years and three months. He also appealed in the Court of Second Instance which got rejected by letting the length of his prison term stand. Recently the news came up about his 75% shares of Chinese Estates to be transferred to his wife and his son keeping in view about his serious health issues in 2017.
He got married twice. His first marriage was with Theresa Po Wing-Kam in 1977 but the marriage didn’t last long and ended with divorce in 1992 having two children; Lau Ming-wai and Jade Lau Sau-yung. He then married Chan Hoi-wan in 2016 after a long term relationship and both have two children; Josephine and a son. Among his personal interests he is an avid art lover and has accumulated many unique art pieces such as famous painting of Paul Gauguin named as Te Poipoi, a 7.03 carat blue diamond worth $9.48 million and Cloisonné cranes. Alongside being the fifth-richest man in Hong Kong he has bunch of lavish assets and properties including £33 million Eaton Square home, majestic Sunseeker yacht, Boeing 787 Dreamliner jet and other collectibles.
It is estimated to be around US$15.1 billion as on April 2017.