Cheng Yu-tung GBM[1] (Chinese: 鄭裕彤; 8 August 1925 – 29 September 2016) was a billionaire and investor based in Hong Kong. He owned several real estate properties, businesses, hotels, infrastructure, jewellery retailers and transportation services in Hong Kong, Macau, the United States, and Australia.[2]
Cheng is also known for founding the New World Development in 1970 which is a Hong Kong based conglomerate.[3]
Life
Cheng was born and raised in Shunde, Guangdong. He fled to Macau in 1940 during Japanese occupation in China. Later, he started working as an apprentice in Chow Tai Fook store and in time, he married his boss's daughter. In 1946 he moved to Hong Kong and opened the first store of Chow Tai Fook there.[4]
Career
Cheng founded the conglomerate named Chow Tai Fook Enterprises. He also operated the Sheraton Marina hotel.[5] He was once a real-estate investment partner of Donald Trump. He served as the Director of the board of Hang Seng Bank which is the third largest bank in Hong Kong.[6]
Cheng represented the Kingdom of Bhutan in Hong Kong. He served as the honorary consul of it.[7]
He died from a brain hemorrhage on September 26, 2016, in Hong Kong.[8]
