Thomas Kwok

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Thomas Kwok Ping-kwong
郭炳江
Thomas Kwok Ping-kwong.JPG
Born (1951-10-06) October 6, 1951 (age 66)
Portuguese Macau
Residence Hong Kong
Education London Business School
Imperial College
Occupation Former joint-chairman of Sun Hung Kai Properties
Net worth US$17 billion (with brother Raymond, March 2018)[1]
Children Adam Kwok
Parent(s) Kwok Tak Seng (father)
Kwong Siu-hing (mother)
Relatives Walter Kwok (brother)
Raymond Kwok (brother)

Thomas Kwok Ping-kwong (Chinese: 郭炳江; pinyin: Guō Bǐngjiāng; Cantonese Yale: Gwok Bínggōng; born October 6, 1951) is a Hong Kong billionaire, and the former joint chairman and managing director (with his brother Raymond Kwok) of Sun Hung Kai Properties, the largest property developer in Hong Kong.[2] He received a five-years prison sentence for bribery in 2014.[1]

Biography[edit]

Thomas is the second son of Kwok Tak Seng, the founder of SHK Properties, and his wife Kwong Siu-hing. Together with brothers Walter and Raymond, they inherited Sun Hung Kai Properties, Hong Kong's largest real estate developer in 1990, following their father's death.[3] The Kwok brothers are the third wealthiest people in Hong Kong and the Greater China Region, just after Li Ka Shing and Lee Shau Kee. Their combined wealth is estimated to be US$16.5 billion in Forbes' 2018 list of billionaires.[4] According to Forbes, the Kwok family as a whole is the third richest family in Asia, with a net worth of US$40.4 billion [5]

Kwok received a bachelor's degree in civil engineering from Imperial College London, University of London, followed by an MBA from London Business School.[6]

Arrest and conviction[edit]

The two brothers were arrested by the Independent Commission Against Corruption on bribery charges in March 2012.[7][8] They were accused of bribing Rafael Hui, the former Chief Secretary for Administration from 2005 to 2007, to be their "eyes and ears in government" in a case said to highlight "the cozy relationship between the city's powerful developers and government".[9]

In December 2014, Thomas Kwok was convicted of "conspiracy to commit misconduct in public office," while his brother Raymond was cleared of all charges. Thomas was sentenced to five years in prison and a fine of $500,000. Rafael Hui, Sun Hung Kai executive Thomas Chan and businessman Francis Kwan were also jailed.[10] After the verdict was announced, Kwok stated his immediate resignation as chairman, managing director and executive director of Sun Hung Kai and said he would appeal the conviction.[9] His appeals to the Court of Appeal and Hong Kong Court of Final Appeal were dismissed.[11] Kwok, who had been granted bail pending appeal to the Court of Final Appeal was returned to prison in June 2017.[12]

As a result, the Silver Bauhinia Star conferred on him by the Hong Kong Government in 2007 was revoked in March 2018.[13]

Religion[edit]

Kwok is a Christian. The Noah's Ark project on Ma Wan reflects Kwok's evangelical Christian faith. During the 1990s, he set up a church on the 75th-floor pyramid atrium atop Sun Hung Kai's Central Plaza office complex.[14]

References[edit]

  1. ^ a b "Forbes profile:Thomas & Raymond Kwok". Forbes. Retrieved 26 March 2018. 
  2. ^ Sun Hung Kai Profit Jumps; Chairwoman to Retire Wall Street Journal, by Polly Lui. 16 September 2011.
  3. ^ "Thomas and Raymond Kwok", Forbes. Accessed 21 January 2016.
  4. ^ "Thomas & Raymond Kwok". forbes.com. Retrieved 26 March 2018. 
  5. ^ "Kwok family". forbes.com. Retrieved 26 March 2018. 
  6. ^ "Profile of Thomas Kwok". info.gov.hk. Retrieved 26 March 2018. 
  7. ^ "Kwok brothers arrested in Hong Kong on bribery charges". BBC News. 29 March 2012. 
  8. ^ "Tycoon brothers arrested in Hong Kong corruption probe". CNN. 29 March 2012. 
  9. ^ a b Lee, Yimou; Ko, Lizzie (19 December 2014). "Hong Kong former official, property tycoon guilty in graft case". Reuters. 
  10. ^ Law, Stuart (23 December 2014). "Rafael Hui jailed for seven-and-a-half years; Thomas Kwok locked up for five years". South China Morning Post. Retrieved 23 December 2014. 
  11. ^ "Judgment". legalref.judiciary.hk. Retrieved 26 March 2018. 
  12. ^ "Appeals of Thomas Kwok, Rafael Hui rejected - RTHK". rthk.hk. Retrieved 26 March 2018. 
  13. ^ Cheng, Kris (3 March 2018). "In a first for Hong Kong, gov't revokes top award from ex-official Rafael Hui over graft convictions". Hong Kong Free Press. Retrieved 4 March 2018. 
  14. ^ Hong Kong Christens an Ark of Biblical Proportions The A-HED. By JONATHAN CHENG. Wall Street Journal. APRIL 14, 2009.