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Cheng Yu TungBusinessman with real estate investments in Hong Kong and Macau.
Country:
 Hong Kong |
Content:
- Biography of Cheng Yu-tung
- Consul for the Kingdom of Bhutan
- New World Subsidiary
- Investments in San Francisco
- Philanthropy and Contribution to Education
- Support for Chinese University
Biography of Cheng Yu-tung
Cheng Yu-tung, born in Shunde in 1925, is a billionaire businessman from Hong Kong with a rapidly growing business empire. He has investments in the real estate sector in Hong Kong and Macau. Cheng owns conglomerates such as Sheraton Marina Hotel, Chow Tai Fook Enterprises, and Sociedade de Turismo e Diversoes de Macau. He also holds a position in Hang Seng Bank, the third-largest bank in Hong Kong.
Consul for the Kingdom of Bhutan
In addition to his business ventures, Cheng serves as the consul for the Kingdom of Bhutan. He represents the country in various diplomatic matters.
New World Subsidiary
Cheng is the owner of the subsidiary company, New World. This company has had a legal case against Cheng's son, Henry, filed by the previous owner of the company, Donald Trump. The case involved the sale of property in New York for a mere 1.8 billion US dollars, with Trump accusing Henry Cheng and other partners of undervaluing the property. The case was eventually dismissed.
Investments in San Francisco
Following the dismissal of the legal case, Henry and other investors made significant contributions to the business in San Francisco, California. Their investments aimed to expand their business activities in the United States.
Philanthropy and Contribution to Education
Cheng Yu-tung has made significant philanthropic contributions to various educational institutions. He donated 30 million US dollars to the Chinese University for the growth of academic research. Cheng has always had a passion for nurturing and developing talents in the younger generation. Through his investments in education, he hopes to see his long-standing dream become a reality.
Support for Chinese University
Cheng has maintained a strong connection with the Chinese University for many years. He has been a major sponsor of the university, supporting various academic projects. In 1977, he established a master's program in business administration, and to this day, he remains the university's primary sponsor. In 1991, Cheng and Li Ka-shing donated 6 million US dollars for the development of science in southern China. His contributions to the field of education are invaluable, and his support has greatly influenced the educational landscape in China.
Professor Lawrence J. Lau, the vice-chancellor of the Chinese University, expressed his gratitude for Cheng's immense contributions to education. He emphasized the immeasurable help Cheng has provided to the university over the years, highlighting his sponsorship of academic projects and his instrumental role in the university's structure and development.
