Joseph Lau
Hong KongBiography of Joseph Lau
Joseph Lau is an Asian billionaire known for his investments in the real estate industry. He currently holds a 47% stake in Chinese Estates Holdings, the largest real estate operator in Hong Kong. With a net worth estimated at $2.1 billion, Lau is ranked 453rd on Forbes' list of World Billionaires.
Business Ventures
Chinese Estates Holdings primarily focuses on real estate investment, brokerage operations, and mortgage activities. In addition to his stake in Chinese Estates Holdings, Lau, along with his brother Thomas, owns a portion of Lifestyle International, a group of companies that owns the international supermarket chain SOGO.
After his brother's resignation as the chairman of Chinese Estates Holdings due to allegations of misappropriation and abuse of office, Joseph Lau was appointed to the position. Furthermore, Lau's son, Joseph Lau Ming Fai, became the company's executive director. As a result, the Lau family continues to have a direct involvement in the management of this major enterprise.
Accomplishments and Interests
By the age of 55, Thomas Lau had become one of the wealthiest individuals in Asia, ranking 23rd on China's list of rich and famous people. He is also known for his extravagant purchases, such as being one of the first seven buyers of the Boeing 787 Dreamliner private jet in 2007. Notably, Joseph Lau openly revealed his purchase, whereas the identities of the other six buyers remain undisclosed.
Joseph Lau is also recognized as an art connoisseur, with a particular interest in paintings depicting scenes from the lives of Hong Kong, China, and Asia as a whole. He is also fond of contemporary art. Some of his recent acquisitions include Andy Warhol's "Mao" painting, purchased for $17.5 million, and Paul Gauguin's "Te Poipoi" painting, which he acquired at a Sotheby's auction for $39.2 million, depicting a scene from Tahiti.
Additionally, the eccentric billionaire is known for his passion for wine. Although the exact number of red wine bottles in his cellar is unknown, estimates suggest that it could reach up to 10,000 bottles.
