Joseph Lau
Overview
- Source of Wealth
- Real estate
- Industry
- Real Estate
- Residence
- Hong Kong
- Marital Status
- Divorced
- Children
- 6
Assets
- Chinese Estates (Holdings) Ltd.1,430,701,000 shares @ --127-HK
- Lifestyle International Holdings Ltd0 shares @ --1212-HK
Biography
Joseph Lau is the former chairman of property developer Chinese Estates, most of which he acquired in 1986.
Lau owns a sizable portfolio of prime real estate in Hong Kong.
An avid art collector, his wealth also includes pieces from Warhol, Gauguin and Hockney that are worth at least $1 billion.
He became a billionaire in 2006 and his brother Thomas also made the billionaires' club.
In 2017 Joseph Lau said he transferred most of his wealth to his wife and a son, citing serious health issues.
About
Lau purchased a 12-carat blue diamond for a record-breaking $49 million in 2015.
Lau was sentenced to 5 years in prison by a Macau court for bribery and money laundering in 2014, but he can't be extradited to Macau and hasn't spent a day in jail.
Lau failed to take Chinese Estates private in 2021, when its investment in cash-strapped mainland property developer China Evergrande had $1 billion loss.