Cheng Yutung Net Worth is$16 Billion
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Date of Birth: 1925

Net Worth: View Cheng Yu-tung Net Worth

What is Cheng Yu-tung's net worth? Cheng Yu-tung's $16 billion net worth makes him one of the richest people in Hong Kong. Born in Shunde, Guangdong, Republic of China, Cheng Yu-tung is now based in Hong Kong. Until just recently, he was the CEO of New World Development, a family-owned real estate development firm. He began his professional career with a jewelry business called, Chow Tai Fook. Chow Tai Fook grew to become Chai Tai Fook Enterprises and expanded into multiple business ventures, including serving as the umbrella corporation for New World Development. Chow Tai Fook/New World Development now own multiple properties in Hong Kong, Macau, and abroad, including five high-end hotels. Most recently, the company purchased the Carlyle Hotel in Manhattan. The company also runs the Sheraton Marina hotels. In addition to his work with Chow Tai Fook, he also serves as honorary consul for Bhutan, and on the board of Hong Kong's third largest bank, Hang Seng. He announced his retirement in early 2012, and passed leadership to his son.

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Cheng Yutung Latest News

True visionary: Hong Kong tycoon Cheng Yu-tung was quick to spot an opportunity ... and know when to stand aside

Billionaire Cheng Yu-tung, who died on Thursday aged 91, made his fortune half a century ago from jewellery and property, amassing the third largest fortune in Hong Kong. He was the first of the city’s ageing property tycoons to step down from leading ...
Posted: September 30, 2016, 7:10 pm

Can Cheng Yu-tung's business empire thrive without him?

HONG KONG When the wealthy and powerful flocked to the Hong Kong Funeral Home on Oct. 12 and 13 to pay their respects to Cheng Yu-tung, who had died at age 91, they were marking the loss of the first of a generation of rags-to-riches businessmen whose ...
Posted: October 20, 2016, 5:00 am

Baha Mar Occupancy At 50 Percent And Growing

Mr Izmirlian ultimately lost control of the mega resort after being defeated in the US and Bahamian courts, and Chow Tai Took Enterprises (CTFE), the conglomerate formed by the late billionaire, Cheng Yu Tung, was revealed as the new owner last year.
Posted: August 10, 2017, 1:17 pm

New World Development founder Cheng Yu-tung passes away at age 91

Founder and honorary chairman of New World Development Cheng Yu-tung, 91, passed away due to illness on Thursday night. Cheng, one of the richest men in Hong Kong, worked at Chow Tai Fook in Macau after the wars broke out in 1938, and married Chow’s ...
Posted: September 30, 2016, 10:17 am

Cheng Yu-tung, Hong Kong jewellery tycoon – obituary

Cheng Yu-tung, who has died aged 91, prospered in the Hong Kong jewellery trade before making billions in real estate and other ventures, notably in mainland China. Cheng’s New World group began investing over the border from Hong Kong in 1980, when it ...
Posted: October 5, 2016, 11:30 am
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