Kwong Siu-Hing was recognized as the wealthiest woman in Hong Kong in 2022. She has significant influence within the Kwok family, the owners of Sun Hung Kai, the largest and most esteemed property developer in Hong Kong. Born in Guangzhou, Kwong Siu-Hing moved to Hong Kong in 1947 at the young age of 20.
Siu-Hing is a prominent figure in the Sun Hung Kai company, with her children having played key roles in its management. She married the founder of Sun Hung Kai, Kwok Tak-Seng. Siu-hing’s decision to step down as the company’s chairman may have been influenced by the ongoing power struggle between her sons Walter, Thomas, and Raymond.
Walter was appointed as the head of the company when Tak-Seng died in 1990. Siu-Hing took over as the company’s chairman in 2008; although Siu-Hing stepped down in 2011, she still holds the largest stake in the company, controlling more than 40% of its shares through a family trust. As a result, she is consistently ranked as one of Hong Kong’s wealthiest individuals.
Kwong Siu-Hing is a remarkable woman who has made significant contributions to society. Her life story is a testament to her strength, resilience, and determination. Despite facing numerous challenges, including the loss of her husband and the burden of raising a family alone, Kwong remained committed to her goals and established herself as a prominent figure in the business world.
Kwong Siu-thing’s Position as Hong Kong’s Wealthiest Woman
Forbes named the Kwok family the third richest in Asia in 2017, with a net worth of $40.4 billion. Kwong’s sons, Thomas and Raymond, were ranked fourth in Hong Kong by Forbes’ annual Hong Kong’s 50 Richest lists in 2018.
In the same year, they were also ranked 77th on The World’s Billionaires list, with a net worth of US$16.5 billion. Meanwhile, Walter Kwok was placed by Forbes as the 10th wealthiest person in Hong Kong and the 190th richest person in the world, with an estimated net worth of US$8 billion.
Kwong’s son, Walter Kwok, passed away on October 20, 2018, at the age of 68.
How did Kwong Siu-Hing get so rich?
Kwong Siu-Hing’s wealth is mainly derived from her family’s ownership of Sun Hung Kai Properties, the largest property developer in Hong Kong. Kwong married the company’s founder, Kwok Tak-Seng when she was just 20 years old and became involved in the business with her husband.
When Tak-Seng passed away in 1990, their three sons, Walter, Thomas, and Raymond, took over the company. Kwong remained involved in the business and was eventually appointed as the chairman of Sun Hung Kai in 2008.
The History of Sun Hung Kai Properties
Sun Hung Kai Properties was founded in Hong Kong in 1972 and has since become one of the largest and most successful property developers in the region.
Its predecessor, Sun Hung Kai Enterprises, was founded in 1963 by Kwok Tak-Seng, Fung King-hey, and Lee Shau Kee. Sun Hung Kai Properties was incorporated on July 14, 1972, and listed on the Hong Kong stock exchanges on August 23, 1972.
Before 1997, the company was among several non-British-owned companies that surpassed the British trading companies in Hong Kong.
Sun Hung Kai Properties Limited became a publicly traded company in 2019.
What does Sun Hung Kai Properties do?
Sun Hung Kai Properties is a property development and management company. It is primarily engaged in the development, leasing, and management of commercial and residential properties in Hong Kong, Mainland China, and other parts of the world. The company’s business also includes property-related services such as security, cleaning, and maintenance, as well as hotel and investment properties.
What is a property development and management company in simple terms?
A property development and management company is a type of business that builds, buys, sells, leases and manages real estate properties such as apartments, office buildings, shopping centers, hotels, and more.
The company oversees the entire development process, from acquiring the land to designing and constructing the buildings and selling or leasing them to customers.
The management aspect of the business involves maintaining and enhancing the value of the properties over time, as well as providing various services to tenants or customers, such as maintenance, security, and other property-related services.
