Lui Che-woo

Dr. Lui Che Woo
呂志和博士
Born 1929/1930 (age 85–86)[1]
Jiangmen, China
Residence Hong Kong
Net worth Increase US$ 21 billion (Jan 2014 est.)[2]
Spouse(s) Married, 5 children
This is a Chinese name; the family name is Lui .

Lui Che Woo (Chinese: 呂志和; pinyin: Lǚ Zhìhé) was born in Jiangmen, China in August 9, 1929. He is Chairman of K. Wah Group, owner of Galaxy Entertainment Group. As of November 2013, he is the second richest man in Asia.[3] Then in January 2014, with a worth of US$21 billion, he was named the second richest man in Hong Kong.[2]

Personal history

He established the first K. Wah company in Hong Kong in the 1950s. Its major member companies include K. Wah International Holdings Ltd. (Stock code: 173.HK), Galaxy Entertainment Group (HKSE: 27.HK), Stanford Hotels International and K. Wah Construction Materials Limited. Today, K. Wah has developed into a multi-national conglomerate involving properties, entertainment & leisure, construction materials and hotels with over 200 subsidiaries and more than 20,000 employees in Hong Kong, Mainland China, Macau, North America and Southeast Asia.

Lui is a pioneer in Hong Kong construction materials industry. In the 1960s, he embarked on property investments. In the 1980s, he set his sights on hotel development. In the 1990s, Lui expanded his business into Mainland China. In 2002, he ventured into Macau’s gaming business and is now one of the six gaming concessionaries in Macau where he aims at developing world class travel, leisure, shopping, meeting, convention, exhibition and entertainment facilities.

On May 2011, Galaxy Entertainment Group Limited opened the $2 billion Galaxy Macau casino and hotel in Macau with 2,200 rooms, 50 restaurants, 450 gambling tables, an artificial beach and a wave pool.[4]

Philanthropy

A distinguished philanthropist, Lui has been particularly supportive to the development of medical care and education. He was Chairman of the Tung Wah Group of Hospitals in 1981-2. In 1999, Lui provided funds for the Stanford University Medical Centre to set up Lui Che Woo Research Laboratory. He also holds important posts in various tertiary institutions including Founding Honorary President of the University of Hong Kong Foundation of Educational Development and Research, Member of the Board of Trustees of United College of the Chinese University of Hong Kong, Honorary Member of the Court of Hong Kong University of Science and Technology, Member of the Consultative Committee of the Hong Kong Polytechnic University, Honorary Life Chairman of the Hong Kong Polytechnic University Foundation, Life Honorary Chairman of Wuyi University Board of Trustees, Honorary Dean of Business Faculty of Yangzhou University, and Member of the Board of Directors of Fudan University. In 2002, the Lui Che Woo Awards for CUHK/Cornell Student Exchange Programme in Hospitality Management was established to facilitate academic exchanges of the School of Hotel and Tourism Management. In 2005, an initiative in support of the reconstruction and refurbishment of 150 schools in underprivileged regions across the Mainland was committed through The Ministry of Education. In 2006, a fund was set up at the School of Hotel and Tourism Management of the Hong Kong Polytechnic University for academic research and scholarship for outstanding students. In 2008, donations were pledged in support of the Mainland’s university students in rural to complete their four to five years’ degree programmes via Virya Foundation, the construction of the Lui Che Woo Building at The Hong Kong Polytechnic University and the renovation and expansion of a centenary building at Fudan University, as well as the development of a new Beijing campus for the China Europe International Business School. In 2010, donations were made to The University of Hong Kong for the building of a law library in the Centennial Campus and to the University of Macau in support of the new campus development in Hengqin, Zhuhai. In 2012, donation was made to the Chinese University of Hong Kong for the establishment of the Lui Che Woo Institute of Innovative Medicine. In 2013, donation was pledged to Opera Hong Kong as an Honorary Patron to promote local art education and cultivate art management talents. In 2014, a HK$1.3 billion GEG Charitable Foundation was established to cultivate in the young proper moral values and nurture their sense of belonging to society and the community.

Recognition

In recognition of his exemplary contributions to the community, Lui was made a Member of the Order of the British Empire by The Queen (MBE) in 1982 and was appointed as a Justice of the Peace (JP) in 1986. In 1995, an asteroid discovered by the Purple Mountain Observatory in Nanjing was named “Lui Che Woo Star”. Lui was also awarded the degree of Doctor of Laws, honoris causa by the University of Victoria in 2001; the degree of Doctor of Social Science, honoris causa, by the Chinese University of Hong Kong in 2002; an Honorary University Fellowship by the University of Hong Kong in 2002; the degree of Honorary Doctor of Laws by Concordia University in 2004, and the degree of Doctor of Business Administration, honoris causa, by the Hong Kong Polytechnic University. In addition, Lui was awarded the Gold Bauhinia Star (GBS) in 2005. In 2007, he was honoured as the Business Person of the Year in DHL/SCMP Hong Kong Business Awards and presented with the Lifetime Achievement Award by American Academy of Hospitality Sciences.

As a good citizen, Lui was elected for the Hotel Subsector of the Election Committee for the Third Term Chief Executive of the Hong Kong Special Administrative Region in December 2006. Lui is to represent the Hotel Subsector to elect the Third Term Chief Executive in March 2007. He has also been appointed as Member of Steering Committee on MICE (Meetings, Incentives, Conventions and Exhibitions) since 2007.

Public services

China

Hong Kong

Honours

References

  1. ↑ "The World's Billionaires: #98 Lui Che Woo". Forbes. January 9, 2014.
  2. ↑ 2.0 2.1 Karen Chiu (10 January 2014). "Casino tycoons biggest winners". The Standard.
  3. ↑ Vinicy Chan (8 November 2013). "Galaxy Entertainment quarterly profit jumps". Macau Daily Times.
  4. ↑ "$2 Billion Casino Has Been Opened". BBC. 16 May 2011.
  5. ↑ JPL Small-Body Database

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External links

Order of precedence
Preceded by
Peter Woo
Recipient of the Grand Bauhinia Medal		 Hong Kong order of precedence
Recipient of the Grand Bauhinia Medal 		Succeeded by
Maria Tam
Recipient of the Grand Bauhinia Medal