Lee Shau-kee To Donate Another HK$1 Billion To Charity

Wealth

November 24, 2017 | BY Erica Fong

The Hong Kong tycoon is keeping his promise from 10 years ago

One of Hong Kong’s top philanthropists, Lee Shau-kee, is set to donate another one of his many billions to charity by the end of this year, due to a promise he made in 2010.

As reported in the SCMP, Lee stated in his second biography that he’d give away HK$1 billion (US$128 million) if the Hang Seng Index climbed above 30,000 points again, or HK$2 billion if it rose above 40,000 points.

The former happened this past Wednesday, when the Hang Seng Index closed at 30,003.49.

 

At 89 years old, Lee Shau-kee is the second richest man in Hong Kong with a fortune of HK$185.4 billion. His family was recently as the sixth richest in Forbes Asia’s Richest Families of 2017.

Which projects will benefit from Lee Shau-kee’s generosity? The tycoon will be making his decision the end of this year, but a spokeswoman hinted that they would include “charities and education programmes.”

Lee Shau-kee is a well known supporter of education, having donated many millions to the University of Hong Kong, Hong Kong University of Science and Technology, and Chinese University of Hong Kong.

See also: Hong Kong's Top 5 Philanthropists

Lead image: Courtesy of HKUST