Hong-Kong billionaire businessman Cheng Yu-tung GBM has an estimated net worth of $11 billion as of 2015, according to Forbes. He is the owner of Chow Tai Fook Enterprises. This self-made billionaire’s net worth is estimated to be around $11 billion.
Cheng was born on 26 August 1925 in Shunde, Guangdong, Republic of China. Cheng Yu-tung has extensive business dealings and real estate interests in Hong Kong and Macau.
Cheng Yu-tung’s Chow Tai Fook Enterprises is a conglomerate which operates Sheraton Marina hotel. It owns Chow Tai Fook, the largest jewelry retailer in the world. It also controls New World Group, a publicly listed company which is active in infrastructure, property, telecom and services.
Cheng Yu-tung has interests in Shun Tak Holdings and Stanley Ho-owned Sociedade de Turismo e Diversoes de Macau. Shun Tak Holdings has interests in shipping, hospitality and property sectors. Cheng sits on the board of the Hang Seng Bank, a Hong Kong-based banking and financial services company.
Cheng Yu-tung is married to Tsui-ying Chow. They have four children. His son Henry heads the family business. His grandson, Adrian Cheng Chi-kong, will inherit part of Chow Tai Fook and New World group. His granddaughter Sonia heads the family’s hotel empire. Cheng represents the Kingdom of Bhutan in Hong Kong. He serves as the honorary consul for Bhutan.