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Lui Che-woo

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Dr. Lui Che-woo
呂志和博士
Lui Che Woo Photo 017.jpg
Lui Che-woo 呂志和
Born 1929/1930 (age 87–88)[1]
Jiangmen, China
Residence Hong Kong
Net worth Decrease US$ 11 billion (June 2015)
Spouse(s) Married, 5 children

Lui Che Woo, GBM, MBE, JP (Chinese: 呂志和; Sidney Lau: Lui5 Ji3 Woh6) (b. 9 August 1929, Jiangmen, China) is a member of the Standing Committee of the Chinese People's Political Consultative Conference, Jiangmen, People's Republic of China and is a Hong Kong gambling magnate, founder and chairman of listed firms Galaxy Entertainment Group and K. Wah International Holdings Ltd.[2] In January 2014, he was reported to be worth US$21 billion and ranked the second richest man in Hong Kong.[3]

Business career

Lui 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 gambling, property, entertainment & leisure, construction materials and hotels, with over 200 subsidiaries and more than 33,000 employees in Hong Kong, mainland China, Macau, North America and South-East Asia.

In the 1960s, Lui branched out from construction materials to property investment. The 1980s marked entry into hotel development and expansion into mainland China the next decade. In 2002, he ventured into Macau’s gaming business and his business became one of the six gaming concessionaires in Macau.

In 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]

Public service

Lui was Chairman of the Tung Wah Group of Hospitals in 1981-2.

He also holds 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.

In December 2006, Lui was elected to the small-circle Election Committee, in the Hotels Subsector, for the Third Term Chief Executive of the Hong Kong Special Administrative Region selection process. He has also been a member of the Hong Kong Government's Steering Committee on MICE (Meetings, Incentives, Conventions and Exhibitions) from 2007.

Philanthropy

In 1999, Lui provided funds for the Stanford University Medical Centre to set up Lui Che Woo Research Laboratory.

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.

The construction of the Lui Che Woo Building at the Hong Kong Polytechnic University.

In 2012, a donation was made to the Chinese University of Hong Kong for the establishment of the Lui Che Woo Institute of Innovative Medicine.

In 2015, Dr Lui pledged to donate HK$15.6 million to the Chinese University of Hong Kong to establish the Lui Che Woo Distinguished Young Scholars Award and the Lui Che Woo Distinguished Young Scholars Research Scholarship to support outstanding medical research students to further their studies overseas.

Marking K. Wah Group's 60th anniversary in 2015, Lui established the Lui Che Woo Prize – Prize for World Civilisation, in Hong Kong, an international prize said to honour and recognise individuals or organizations for, inter alia, "promotion of positive life attitude and enhancement of positive energy". [5]

References

  1. ^ "The World's Billionaires: #98 Lui Che Woo". Forbes. January 9, 2014. 
  2. ^ Vinicy Chan (8 November 2013). "Galaxy Entertainment quarterly profit jumps". Macau Daily Times. 
  3. ^ Karen Chiu (10 January 2014). "Casino tycoons biggest winners". The Standard. 
  4. ^ "$2 Billion Casino Has Been Opened". BBC. 16 May 2011. 
  5. ^ Zhao, Shirley (24 September 2015). "Tycoon Lui Che-woo launches HK$60 million prize for contributors to ‘world civilisation’ with heavyweight council". South China Morning Post. Retrieved 29 October 2016. 

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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