Michael Kadoorie

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Michael Kadoorie
Born1941 (age 76–77)
ResidenceHong Kong
EducationInstitut Le Rosey
OccupationBusinessman
Known for18% owner of CLP Group
47% owner of Hongkong and Shanghai Hotels
Net worthUS$7.5 billion (March 2018)[1]
TitleChairman, CLP Group
Spouse(s)Betty Tamayo
ChildrenNatalie Kadoorie
Bettina Kadoorie
Philip Kadoorie
Parent(s)Lord Lawrence Kadoorie
Muriel Gubbay
RelativesRonald McAulay (brother-in-law)
Andrew McAulay (nephew)

Sir Michael David Kadoorie, GBS (born 1941) is a billionaire Hong Kong businessman, and the chairman and 18% owner of CLP Group, Hong Kong's largest electricity producer.[2][3] He also owns 47% of Hongkong and Shanghai Hotels.[2]

Early life[edit]

Born in 1941[2] to a Jewish family,[4] the son of business tycoon Lawrence Kadoorie (1899–1993) and his wife, Muriel Gubbay, Kadoorie was educated at Kowloon Junior School in Hong Kong as well as Institut Le Rosey in Switzerland. His family's roots in business in the Far East go back to his grandfather, a descendant of Iraqi Jews originally from Baghdad, who first settled in Shanghai in 1880. After a spell in Bombay, India, his grandfather made a fortune in Shanghai, mostly lost in 1949, and later, in Hong Kong through finance, real estate and utilities. Headquartered in Hong Kong soon after 1949, Kadoorie's father and uncle expanded the family businesses into a diversified group, led by the company flagship CLP Holdings Ltd.[3]

Career[edit]

Kadoorie is the chairman of CLP Holdings Ltd. which his family founded in 1890 and in which they still hold a 35% stake.[5] The utility company provides electricity to 75% of Hong Kong as sole operator (licensed through a Scheme of Control) in Kowloon and the New Territories, and has equity interests in power plants in China, Southeast Asia, Australia and India.

He is also the chairman of the family's second largest listed group, Hong Kong and Shanghai Hotels, owners and operators of the Peninsula Hotel Group. He controls and is a director of Metrojet Ltd, Heliservices (HK) Ltd, and has initiated CLP Research Institute (a subsidiary of CLP Holdings which looks into renewable energy development).

He holds a number of directorships in non-Kadoorie companies. He was a member of the Council of the University of Hong Kong and, in 2000, the Kadoorie Biological Sciences Building opened at the university.[6]

Awards[edit]

A trustee of the Kadoorie Charitable Foundation, Kadoorie was made an Officer of the Legion of Honor by the government of France and a Commander of the Order of Léopold II of Belgium.[7] He was awarded a knighthood, as a Knight Bachelor, in the Queen's Birthday Honours List in June 2005. In 2004, the University of Hong Kong awarded him an honorary doctorate.[8]

Car collector[edit]

Sir Michael's Bentley Speed Six Mulliner drophead coupé

A photography buff, Kadoorie is also a helicopter pilot and a collector of classic cars. He is the owner of a number of rare automobiles including a Bugatti Type 57, a 1932 Rolls-Royce Phantom II by Thrupp & Maberly, a 1934 Hispano-Suiza J12 Vanvooren Cabriolet, a 1969 Lamborghini Miura P400 S, a 1924 Vauxhall 30–98 Tourer, a Talbot T150 CSS Pourtout coupé (ex car of race driver Pagnibon), a Rolls-Royce Phantom III with Gurney Nutting body, and a Rolls-Royce Silver Ghost.[2]

In 1998, he spent two months recovering from serious injuries at the John Radcliffe Hospital in Oxford, England after an accident in his vintage Ferrari when the spokes in two of the rebuilt wheels tore through the tyres.[citation needed]

Personal life[edit]

He lives in Hong Kong with his Cuban-American wife, Betty Tamayo,[4] known as "Lady Betty." They have three children: Natalie (born 1985), Bettina, and Philip (born 1992).[9]

His sister Rita Laura Kadoorie is married to fellow Hong Kong billionaire Ronald McAulay.[10]

See also[edit]

References[edit]

  1. ^ "Forbes profile: Michael Kadoorie & family". Forbes. Retrieved 10 March 2018.
  2. ^ a b c d "Bloomberg Billionaires Index - Michael Kadoorie". Bloomberg LP. Retrieved 10 March 2018.
  3. ^ a b "Get to know our leaders". clpgroup. Retrieved 6 October 2013.
  4. ^ a b South China Morning Post: "Patriarchs and The Pen" 30 November 2003
  5. ^ "Michael David Kadoorie GBS, LL.D. (Hon), DSc (Hon)". Bloomberg Businessweek. Retrieved 6 October 2013.
  6. ^ HKU Biological Science Building – Basic Data Archived 19 August 2013 at the Wayback Machine.
  7. ^ "Are you Michael Kadoorie?". Retrieved 6 October 2013.
  8. ^ "HKU Honorary Graduates - Graduate Detail". www4.hku.hk. Retrieved 10 March 2018.
  9. ^ Peninsula owner Michael Kadoorie grooming his children as possible successors, SCMP, 30 December 2013
  10. ^ "Michael Kadoorie's Hong Kong and Shanghai Hotels Announces New Peninsula Hotel Project in Myanmar". jewishbusinessnews. 10 March 2014. Retrieved 3 November 2015.
Order of precedence
Preceded by
Lo Ka-shui
Recipients of the Gold Bauhinia Star
Hong Kong order of precedence
Recipients of the Gold Bauhinia Star
Succeeded by
Simon Herbert Mayo
Recipients of the Gold Bauhinia Star