Hong Kong property tycoon Lee Shau-kee dies aged 97

 Hong Kong property tycoon Lee Shau-kee, who was once the richest man in Asia, has died at the age of 97. His property firm, Henderson Land Development, announced his passing. He served as chairman of the company for over 40 years. The firm stated that Lee died "in the company of his family," although it did not specify a cause of death.

Lee was one of the wealthiest individuals in the city, with Forbes estimating his net worth at nearly $30 billion (£23 billion) as of February. 

Born in Guangdong Province in southern China, Lee moved to Hong Kong as a young man, where he began his career in gold and foreign currency exchange before transitioning to real estate. In 1958, he co-founded Sun Hung Kai Properties (SHKP), one of the largest property developers in the city, along with two other individuals. In 1976, nicknamed "Uncle Four" as he was the fourth oldest among his siblings, he established his own company, Henderson Land Development, which his two sons took over following his retirement in 2019.

In 1996, Lee was named the richest man in Asia and recognized as the fourth wealthiest person in the world. He was also a philanthropist, making significant contributions to educational initiatives and job development programs. In recognition of his contributions to society, he was awarded Hong Kong's highest honor, the Grand Bauhinia Medal, in 2007.

In a statement, Hong Kong's Chief Executive, John Lee, expressed, "Dr. Lee was an outstanding business leader and entrepreneur who made significant contributions to Hong Kong's economic development, as well as the city's prosperity and stability."