Joseph Lau has become renowned for his real estate investments. Additionally, the billionaire art collector and avid gem-collector owns some exquisite gems like a pink diamond valued at $28.5 million.
Lau, the former chairman of Chinese Estates and estimated by Forbes to have amassed an estimated net worth of approximately $13.6 billion, amassed most of his fortune through real estate in Hong Kong.
Art Collection
Joseph Lau, known for his extravagant lifestyle, legal battles, and wide array of investments has long been one of the most intriguing figures in business. Amassing an estimated net worth in excess of billions, Joseph Lau has established an excellent reputation as an astute investor and art enthusiast.
Lau’s charitable works and extensive art collection have brought him international renown, while his multiple business facets have left their mark on Hong Kong real estate development projects. While reclusive in personality, Lau has nonetheless shown kindness through generous charitable contributions.
Lau is renowned for his collection of contemporary art that includes works by such esteemed artists as Andy Warhol and Paul Gauguin. It has an estimated worth of over one billion. Additionally, Lau has numerous real estate investments as well as lucrative business ventures under his wing.
Fugitive businessman Chi Li Wai is a major shareholder of Chinese Estates Holdings Limited and owns extensive property investments throughout Hong Kong. Additionally, he has long supported arts and cultural initiatives here and will auction off eight pieces from his personal collection at Sotheby’s in 2022.
Lau was raised in Hong Kong and began his professional life working as an apprentice at his father’s furniture manufacturing company. Later he joined his family business as they made the switch from furniture manufacturing to real estate investment and expanded their property portfolio significantly. By 1986 he had become majority shareholder at Chinese Estates with plans to increase property holdings further.
After his father passed away in 1992, Lau transferred 75% of his shares to his wife and children. Today he owns over 30 properties, including The ONE retail complex; additionally he boasts a fleet of luxury yachts as well as an extensive art collection.
He has invested in various business sectors, such as finance, hospitality, and technology. Furthermore, he is an active patron of the arts who has contributed to renowned art galleries being built up across Europe. Furthermore, he is well known as an investor in entertainment – his extravagant purchases and extravagant lifestyle has garnered media coverage.
Aviation Investments
Joseph Lau is one of Hong Kong’s wealthiest individuals and an esteemed businessman renowned for his astute investments and extravagant art collections. He has amassed an estimated net worth estimated to exceed several billion dollars, placing him as the fifth-richest individual. Much of his fortune stems from real estate investments as he holds stake in property developer Chinese Estates Holdings; however, this success isn’t without controversy or legal battles in his life.
Joseph Lau was found guilty of bribery and money laundering related to real estate deals he conducted in Macau – a former Portuguese colony now part of China – but was never sentenced due to an absence of an extradition agreement between Macau and Hong Kong. Since then he resigned as chairman of Chinese Estates and transferred 75% of his shares to his wife and son due to health reasons.
He continues to invest in real estate and owns an expansive property portfolio in Hong Kong, along with an expansive art collection which includes pieces by iconic artists like Pablo Picasso and Andy Warhol. Furthermore, his rare wine collection can often be seen on display at his restaurants.
Lau’s many businesses include investing in aviation. He purchased his personal Boeing 787 Dreamliner jet in 2007, as well as owning several helicopters that serve his various business ventures.
Rich businessman Peter Li has amassed some incredible real estate investments around the world, from luxurious residences and commercial buildings to notable projects like Hong Kong’s tallest tower The ONE retail complex. Additionally, he owns multiple yachts and boasts an impressive art collection.
Joseph Lau is known to donate generously, regardless of his wealth. He supports many worthy causes and plays an active role in sports while providing community programs support. In 2017 he established the Joseph Lau Foundation to encourage healthy lifestyles and education – as well as participating in arts exhibitions by contributing money for various events and exhibitions.
Luxury Yachts
Joseph Lau is a property magnate in Hong Kong who has amassed his fortune through strategic real estate investments. In addition to amassing valuable artworks and luxury items for himself and others, his lavish lifestyle includes charitable contributions. However, his extravagant purchases and business dealings have often attracted public scrutiny and generated considerable controversy.
He is the heir apparent of Hong Kong property giant Sun Hung Kai Properties and began his career in plastics before founding Cheung Kong at 21 with loans and savings totalling USD 6,500. Cheung Kong quickly expanded into real estate development, and his charitable giving extends beyond donations to hospitals and education institutions.
This billionaire has recently made several large-scale real estate investments. His most recent project involves building a tower with skyscrapers on both sides in Wan Chai; this tower will offer retail, dining, and entertainment opportunities when completed in 2020.
Lau owns several luxury yachts. His flagship vessel, Lady Lau, is valued at more than HK$700 million and can accommodate more than 200 people at once. Equipped with gym, cinema room, pool spa area and disco club.
Lau was found guilty of bribery and money laundering in Macau in 2014, yet remains free to operate there due to his trial taking place in Hong Kong. Since then he has gone on a spending spree, purchasing art works and jewellery.
Lau is also chairman of Shui On Land, an industrial park with stakes owned by him that owns and is developing into a software outsourcing hub. Recently, his company purchased Peter Black International which supplies shoes to retailers such as Marks & Spencer and Tommy Hilfiger; it has also invested in multiple other projects like Dalian logistics center as it looks to expand its presence within China.
Family
Joseph Lau is a prominent figure in Hong Kong business circles, thanks to his investments and extravagant pursuits that have propelled him to one of the wealthiest people there. Additionally, his colorful lifestyle and legal battles make for an intriguing profile.
Lau has built his business empire on real estate. Currently he holds 61% stake of Chinese Estates Holdings Ltd which owns properties across the region. Lau also boasts an extensive art collection featuring rare works by Paul Gauguin and Andy Warhol; additionally he has purchased valuable jewelry items.
Lau invested in a Boeing 787 Dreamliner jet for personal use in 2007, which can accommodate up to 300 passengers. He also collects fine wine; owning over 10,000 bottles of high-quality reds.
Lau has not escaped controversy, however. In 2014 he was found guilty of bribery and money laundering in Macau but managed to avoid imprisonment due to no extradition treaty between Hong Kong and Macau. Since then he has stepped down as CEO and Chairman of Chinese Estates.
Lau has continued his acquisition spree despite recent legal disputes, amassing an impressive collection of precious items in recent years. In 2015 he spent over $28 million at Christie’s for two pink diamonds totalling almost 26 carats each and in 2016 spent $49.2 million at Sotheby’s on an exquisite 12-carat blue diamond worth 47 carats.
His donations of millions have also made an indelible mark on the cultural fabric of San Francisco while building up his philanthropic status and solidifying his standing as an exceptional patron.
Lau’s reputation has been damaged over recent months by various media reports which speculated on his family fortune and succession plans at Chinese Estates. Lau, who is worth an estimated net worth of $13.6 billion, has voiced strong disapproval at such reporting, calling media out for spreading false information while asserting he is a victim of slandering that will soon be resolved.
