Born Joseph Lau Luen Hung on the 21st July 1951 in (then) British Hong Kong Territory, he is a businessman, a real estate investor best known to the world as partial owner and chairman of the Chinese Estates Holdings.
Have you ever wondered how rich Jospeh Lau is, as of early 2017? According to authoritative sources, it has been estimated that Lau’s net worth is as high as $15.1 billion, an amount earned largely through his successful career in the real estates.
Joseph Lau Net Worth $15.1 Billion
Joseph is the oldest of four siblings, which includes brother Thomas, who is also a successful businessman, CEO and chairman of Lifestyle Holdings. Joseph moved to Canada to attend the University of Windsor, from where he obtained his degree.
He started the Chinese Estate Holdings with a focus on property investment, management and development, but soon ventured into other business areas, including brokerages and securities investment. As the firm grew, Joseph’s net worth increased commensurately, and soon he became one of the most successful company owners in Hong Kong. So far he has invested HK$1.9 billion in Hong Kong, and has plans to invest even more assets, which would potentially further increase his wealth.
The amount of his wealth is mirrored in numerous luxurious assets which Joseph possesses. He is one of few to own a Boeing 787 Dreamliner, while he is also an avid art collector, buying several rare pieces, including Paul Gauguin’s Te Poipoi which cost him $39.2 million. He has also purchased several luxurious jewelry pieces such as, for his daughter, a 7.03 carat blue diamond, a 9.75 carat blue diamond for his second daughter and, perhaps for himself, a 12.03 carat blue diamond at Sotheby’s for $48.4 million, which became the most expensive diamond ever.
Regarding his personal life, Joseph has married twice, firstly to Bo Wing-kam from 1977 to 1992 – they have two children. Following, he was in a relationship with Yvonne Lui from 2002 to 2014 with whom he also has two children. Since 2016, Joseph has been married to his second wife Chan Hoi-wan, and they have two children.
Having amassed such wealth, Joseph wanted to return some to the community, and has started the Joseph Lau Luen-hung Charitable Trust, supporting several causes, including education, arts and sports.
However, despite – or perhaps because of – his riches, Joseph Lau has had legal problems, and has been convicted in Macao of bribery and money laundering and sentenced to five years in jail; perhaps fortunately Hong Kong where he resides doesn’t have an extradition treaty with Macao, so Joseph remains free for the time being. Having said that, his health gives some cause for concern, as he has had a kidney transplant, and suffers from heart problems too. Apparently there are some things which money cannot buy!
