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{{Short description|Hong Kong businessman}}
{{Short description|Hong Kong businessman (born 1951)}}
{{EngvarB|date=November 2018}}
{{EngvarB|date=November 2018}}
{{Use dmy dates|date=November 2018}}
{{Use dmy dates|date=June 2023}}
{{family name hatnote|[[Liu (surname)|Lau]]|Joseph Lau|Lau Luen-hung|lang=Hong Kong}}
{{family name hatnote|[[Liu (surname)|Lau]]|Joseph Lau|Lau Luen-hung|lang=Hong Kong}}
{{Infobox officeholder
{{Infobox officeholder
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}}<ref>{{Cite web|url=http://webb-site.com/dbpub/natperson.asp?p=1580|title=Lau, Joseph Luen Hung 劉鑾雄|newspaper=Webb-site|date=13 December 2014}}</ref>
}}<ref>{{Cite web|url=http://webb-site.com/dbpub/natperson.asp?p=1580|title=Lau, Joseph Luen Hung 劉鑾雄|newspaper=Webb-site|date=13 December 2014}}</ref>
| birth_place = [[British Hong Kong]]
| birth_place = [[British Hong Kong]]
| citizenship = United Kingdom<ref>{{Cite web|date=2016-05-04|title=Holding a foreign passport is fine – as long as no one finds out|url=https://www.scmp.com/comment/insight-opinion/article/1941393/holding-foreign-passport-fine-long-no-one-finds-out|access-date=2021-09-18|website=South China Morning Post|language=en}}</ref> <br />Hong Kong
| citizenship = United Kingdom<ref>{{Cite web|date=2016-05-04|title=Holding a foreign passport is fine – as long as no one finds out|url=https://www.scmp.com/comment/insight-opinion/article/1941393/holding-foreign-passport-fine-long-no-one-finds-out|access-date=2021-09-18|website=South China Morning Post|language=en |first=Alex |last=Lo}}</ref> <br />Hong Kong
| alma_mater = [[University of Windsor]], Canada<ref>{{cite web|url=https://www.chineseestates.com/eng/Page/Group+Profile/Board+of+Directors/Chinese+Estates+Holdings+Limited.aspx|archive-url=https://web.archive.org/web/20080201224942/https://www.chineseestates.com/eng/Page/Group+Profile/Board+of+Directors/Chinese+Estates+Holdings+Limited.aspx|url-status=dead|archive-date=2008-02-01|title=Executive Directors
| alma_mater = [[University of Windsor]], Canada<ref>{{cite web|url=https://www.chineseestates.com/eng/Page/Group+Profile/Board+of+Directors/Chinese+Estates+Holdings+Limited.aspx|archive-url=https://web.archive.org/web/20080201224942/https://www.chineseestates.com/eng/Page/Group+Profile/Board+of+Directors/Chinese+Estates+Holdings+Limited.aspx|url-status=dead|archive-date=2008-02-01|title=Executive Directors
|publisher=Chinese Estates Group|year=2008|access-date=1 February 2008}}</ref>
|publisher=Chinese Estates Group|year=2008|access-date=1 February 2008}}</ref>
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| nickname = Big Lau/Elder Lau ({{lang|zh-hant|大劉}})
| nickname = Big Lau/Elder Lau ({{lang|zh-hant|大劉}})
}}
}}
{{Chinese
{{Infobox Chinese
|title=Joseph Lau Luen Hung
|title=Joseph Lau Luen Hung
|order=ts
|order=ts
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|p=Liú Luánxióng
|p=Liú Luánxióng
}}
}}
'''Joseph Lau Luen-hung''' ({{zh|first=t,j|t=劉鑾雄}}; born 21 July 1951) is a Hong Kong billionaire. Lau is the former chairman of property developer [[Chinese Estates Group|Chinese Estates]]. He is an avid art and wine collector. His fortune is estimated by ''[[Forbes]]'' at $13.3&nbsp;billion as of September 2021.<ref name=":2">{{Cite web|title=Joseph Lau|url=https://www.forbes.com/profile/joseph-lau/|access-date=2021-09-18|website=Forbes|language=en}}</ref> In 2014, he became a convicted felon and fugitive in Macau.<ref name=":3">{{Cite web|date=2020-02-16|title=Did fugitive tycoon Joseph Lau sell a David Hockney painting for US$30 million?|url=https://www.scmp.com/magazines/style/news-trends/article/3050694/did-fugitive-hong-kong-tycoon-joseph-lau-just-sell|access-date=2020-10-08|website=South China Morning Post|language=en}}</ref>
'''Joseph Lau Luen-hung''' ({{zh|first=t,j|t=劉鑾雄}}; born 21 July 1951) is a Hong Kong billionaire businessman. Lau is the former chairman of property developer [[Chinese Estates Group|Chinese Estates]]. He is an avid art and wine collector. His fortune is estimated by ''[[Forbes]]'' at $13.3&nbsp;billion as of September 2021.<ref name=":2">{{Cite web|title=Joseph Lau|url=https://www.forbes.com/profile/joseph-lau/|access-date=2021-09-18|website=Forbes|language=en}}</ref> In 2014, he became a convicted felon and fugitive in Macau.<ref name=":3">{{Cite web|date=2020-02-16|title=Did fugitive tycoon Joseph Lau sell a David Hockney painting for US$30 million?|url=https://www.scmp.com/magazines/style/news-trends/article/3050694/did-fugitive-hong-kong-tycoon-joseph-lau-just-sell|access-date=2020-10-08|website=South China Morning Post|language=en}}</ref>

He lives in one of the [[List of most expensive houses in Hong Kong|most expensive houses in Hong Kong]], at Goldsmith Road, [[Jardine's Lookout]], valued at HK$2.5 billion with Chan Hoi-wan.<ref>{{Cite web |date=2021-06-21 |title=【渣甸山大業主】大劉高士美道大屋 1億升至25億 ｜ 蘋果日報 |url=https://hk.appledaily.com/finance/20180615/65Y5EC5GAUAVUOT75WR2ZZLDLU/ |access-date=2023-06-02 |archive-url=https://web.archive.org/web/20210621185150/https://hk.appledaily.com/finance/20180615/65Y5EC5GAUAVUOT75WR2ZZLDLU/ |archive-date=21 June 2021 }}</ref>


==Life and career==
==Life and career==
Joseph Lau was born on July 19, 1951 in Hong Kong. He has a younger brother [[Thomas Lau|Thomas]] and two younger sisters. Lau attended the [[University of Windsor]] in Canada before returning to join his family's business making electric fans in 1974.<ref name=":0">{{Cite news|title=Bloomberg Billionaires Index|language=en|work=Bloomberg.com|url=https://www.bloomberg.com/billionaires/|access-date=2021-09-18}}</ref> In 1978, he renamed the company Evergo Industrial Enterprise. In 1982, the company held an initial public offering in Hong Kong. In 1985, Lau switched Evergo's business focus to investment-holding and property-management services.<ref name=":0" />
Joseph Lau was born on 19 July 1951 in Hong Kong. He has a younger brother [[Thomas Lau|Thomas]] and two younger sisters. Lau attended the [[University of Windsor]] in Canada before returning to join his family's business making electric fans in 1974.<ref name=":0">{{Cite news|title=Bloomberg Billionaires Index|language=en|publisher=Bloomberg L.P.|url=https://www.bloomberg.com/billionaires/|access-date=2021-09-18}}</ref> In 1978, he renamed the company Evergo Industrial Enterprise. In 1982, the company held an initial public offering in Hong Kong. In 1985, Lau switched Evergo's business focus to investment-holding and property-management services.<ref name=":0" />


Lau became the majority shareholder of [[Chinese Estates Holdings]] when he acquired a 43% stake in the company through Evergo in 1986. Since then, he's expanded his real estate investments through a series of acquisitions.<ref name=":0" /> In 2000, he acquired 67% stake in Chi Cheung Investment.<ref name=":0" />
Lau became the majority shareholder of [[Chinese Estates Holdings]] when he acquired a 43% stake in the company through Evergo in 1986. Since then, he's expanded his real estate investments through a series of acquisitions.<ref name=":0" /> In 2000, he acquired 67% stake in Chi Cheung Investment.<ref name=":0" />


Chinese Estates Holdings developed [[The One (shopping centre)|The ONE]], the tallest retail complex in Hong Kong, which opened in 2010. In 2017, Lau gifted the property to his wife Kimbie Chan Hoi-wan and their children.<ref>{{Cite web|last=Nguy|first=Dominique|date=January 27, 2017|title=Tycoon gifts $18b building to wife|url=https://www.thestandard.com.hk/section-news/section/11/179067/Tycoon-gifts-$18b-building-to-wife|website=The Standard}}</ref>
Chinese Estates Holdings developed [[The One (shopping centre)|The ONE]], the tallest retail complex in Hong Kong, which opened in 2010. In 2017, Lau gifted the property to his wife Kimbie Chan Hoi-wan and their children.<ref>{{Cite web|last=Nguy|first=Dominique|date=27 January 2017|title=Tycoon gifts $18b building to wife|url=https://www.thestandard.com.hk/section-news/section/11/179067/Tycoon-gifts-$18b-building-to-wife|website=The Standard}}</ref>


In March 2014, Lau resigned from his positions as chairman and CEO of Chinese Estates after a Macau court convicted him of bribery and money laundering.<ref name=":0" /> His son Lau Ming-wai acceded to the chairmanship of the company. Sue Chan, the elder sister of Lau's wife Kimbie, became the chief executive of the company Lau founded.<ref name="20151112ejinsight">http://www.ejinsight.com/20151112-joseph-lau-the-gift-that-keeps-on-giving/ {{Bare URL inline|date=August 2022}}</ref>
In March 2014, Lau resigned from his positions as chairman and CEO of Chinese Estates after a Macau court convicted him of bribery and money laundering.<ref name=":0" /> His son Lau Ming-wai acceded to the chairmanship of the company. Sue Chan, the elder sister of Lau's wife Kimbie, became the chief executive of the company Lau founded.<ref name="20151112ejinsight">{{cite web |url=http://www.ejinsight.com/20151112-joseph-lau-the-gift-that-keeps-on-giving/ |title=Joseph Lau and the gift that keeps on giving |first=Ben |last=Kwok |date=November 12, 2015 |archive-url=https://web.archive.org/web/20160304105816/http://www.ejinsight.com/20151112-joseph-lau-the-gift-that-keeps-on-giving/ |archive-date=4 March 2016 |website=ejinsight}}</ref>


== Art and wine collections ==
== Art and wine collections ==
Lau is an avid art collector. He ranks among ''[[ARTnews]]''<nowiki/>'s list of the "Top 200 Collectors."<ref name=":1">{{Cite web|last=|date=2017-09-10|title=Top 200 Collectors: Joseph Lau|url=https://www.artnews.com/art-collectors/top-200-profiles/joseph-lau/|access-date=2021-09-18|website=ARTnews.com|language=en-US}}</ref> In 2017, ''Forbes'' has estimated the total value of his art collection at around a $1 billion.<ref name=":1" />
Lau is an avid art collector. He ranks among ''[[ARTnews]]''<nowiki/>'s list of the "Top 200 Collectors."<ref name=":1">{{Cite web|date=2017-09-10|title=Top 200 Collectors: Joseph Lau|url=https://www.artnews.com/art-collectors/top-200-profiles/joseph-lau/|access-date=2021-09-18|website=ARTnews.com|language=en-US}}</ref> In 2017, ''Forbes'' has estimated the total value of his art collection at around a $1 billion.<ref name=":1" />


Lau purchased ''Everything Must Go'' (1984) by [[Jean-Michel Basquiat]] for $250,000 in the 1990s. In 2006, Lau purchased [[Andy Warhol]]'s ''Mao'' (1977), a portrait of [[Mao Zedong]], for $17.4 million at [[Christie's]].<ref>{{Cite web|date=November 16, 2006|title=Warhol's 'Mao' portrait sells for record $17.4M|url=https://www.today.com/popculture/warhol-s-mao-portrait-sells-record-17-4m-wbna15752773|access-date=2021-09-18|website=TODAY.com|language=en}}</ref> In 2007, Lau purchased [[Paul Gauguin]]'s ''Te Poipoi (The Morning)'' (1892), a painting of a [[Tahiti]]an scene, for $39.2&nbsp;million at a [[Sotheby's]] auction.<ref>{{cite web |last=Peers |first=Alexandra |date=8 November 2007 |title=The Night the Art Market Went Bust? |website=[[Portfolio.com]] |url=http://www.portfolio.com/culture-lifestyle/culture-inc/arts/2007/11/08/Sothebys-Auction/index1.html |url-status=dead |access-date=9 July 2022 |archive-url=https://web.archive.org/web/20120504132330/http://www.portfolio.com/culture-lifestyle/culture-inc/arts/2007/11/08/Sothebys-Auction/index1.html |archive-date=4 May 2012}}</ref>
Lau owns the painting ''Everything Must Go'' (1984) by [[Jean-Michel Basquiat]].<ref>{{Cite news |date=2022-08-22 |title=Chinese Estates Holdings invests largest Asian-owned commercial development approved by the City of London, UK in the last few |language=en |publisher=Bloomberg L.P. |url=https://www.bloomberg.com/press-releases/2022-08-22/chinese-estates-holdings-invests-largest-asian-owned-commercial-development-approved-by-the-city-of-london-uk-in-the-last-few |access-date=2023-04-15}}</ref> In 2006, Lau purchased [[Andy Warhol]]'s ''Mao'' (1977), a portrait of [[Mao Zedong]], for $17.4 million at [[Christie's]].<ref>{{Cite web|date=16 November 2006|title=Warhol's 'Mao' portrait sells for record $17.4M|url=https://www.today.com/popculture/warhol-s-mao-portrait-sells-record-17-4m-wbna15752773|access-date=2021-09-18|website=TODAY.com|language=en}}</ref> In 2007, Lau purchased [[Paul Gauguin]]'s ''Te Poipoi (The Morning)'' (1892), a painting of a [[Tahiti]]an scene, for $39.2&nbsp;million at a [[Sotheby's]] auction.<ref>{{cite web |last=Peers |first=Alexandra |date=8 November 2007 |title=The Night the Art Market Went Bust? |website=[[Portfolio.com]] |url=http://www.portfolio.com/culture-lifestyle/culture-inc/arts/2007/11/08/Sothebys-Auction/index1.html |url-status=dead |access-date=9 July 2022 |archive-url=https://web.archive.org/web/20120504132330/http://www.portfolio.com/culture-lifestyle/culture-inc/arts/2007/11/08/Sothebys-Auction/index1.html |archive-date=4 May 2012}}</ref>


In February 2020, Lau offered his David Hockney painting ''[[The Splash]]'' (1966) at Sotheby’s contemporary art sale in London.<ref>{{Cite web|last=Solomon|first=Tessa|date=2020-01-16|title=Fugitive Billionaire Joseph Lau Revealed as Seller of David Hockney's 'Splash': Report|url=https://www.artnews.com/art-news/news/joseph-lau-david-hockney-splash-1202675602/|access-date=2021-09-18|website=ARTnews.com|language=en-US}}</ref> The painting sold for $29.9 million, which is the third highest price ever achieved for a Hockney at auction.<ref name=":3" />
In February 2020, Lau offered his David Hockney painting ''[[The Splash]]'' (1966) at Sotheby's contemporary art sale in London.<ref>{{Cite web|last=Solomon|first=Tessa|date=2020-01-16|title=Fugitive Billionaire Joseph Lau Revealed as Seller of David Hockney's 'Splash': Report|url=https://www.artnews.com/art-news/news/joseph-lau-david-hockney-splash-1202675602/|access-date=2021-09-18|website=ARTnews.com|language=en-US}}</ref> The painting sold for $29.9 million, which is the third highest price ever achieved for a Hockney at auction.<ref name=":3" />


Lau owns a collection of more than 10,000 bottles of [[red wine]].<ref>{{Cite news|author=Reuters Staff|date=2007-05-22|title=Boeing gets 787 order from Hong Kong's Lau|language=en|work=Reuters|url=https://www.reuters.com/article/us-boeing-businessjet-idUSN2242425020070522|access-date=2021-09-18}}</ref> In October 2020, the sales of Lau's French wines at Sotheby's in Hong Kong brought a total of $6.8 million, more than doubling pre-sale expectations.<ref>{{Cite web|last=Wang|first=Natalie|date=2020-10-07|title=Sotheby's achieved 'white glove' sales from fugitive HK billionaire wine collection|url=https://vino-joy.com/2020/10/07/sothebys-achieved-white-glove-sales-from-fugitive-hk-billionaire-wine-collection/|access-date=2021-09-18|website=Vino Joy News|language=en-GB}}</ref> Following the success of the sale, Lau sold 147 lots (533 bottles in total) again at Sotheby's in Hong Kong.<ref>{{Cite web|title=Wines from the Cellar of Joseph Lau Part II 劉鑾雄窖藏佳釀（第二部份）|url=https://www.sothebys.com/en/digital-catalogues/wines-from-the-cellar-of-joseph-lau-part-ii|website=Sotheby's}}</ref><ref>{{Cite web|date=2021-04-20|title=Sotheby's Hong Kong spring sale ends on a high note|url=https://www.thedrinksbusiness.com/2021/04/sothebys-spring-sale-ended-at-high-note/|access-date=2021-09-18|website=The Drinks Business|language=en-US}}</ref> The sale brought a total of $6.8 million, also doubling its pre-sale estimate.<ref>{{Cite web|last=Wang|first=Natalie|date=2021-04-19|title=US$6.8m wines from Hong Kong billionaire Joseph Lau sold out|url=https://vino-joy.com/2021/04/19/us6-8m-wines-from-hong-kong-billionaire-joseph-lau-sold-out/|access-date=2021-09-18|website=Vino Joy News|language=en-GB}}</ref>
Lau owns a collection of more than 10,000 bottles of [[red wine]].<ref>{{Cite news|date=2007-05-22|title=Boeing gets 787 order from Hong Kong's Lau|language=en|work=Reuters|url=https://www.reuters.com/article/us-boeing-businessjet-idUSN2242425020070522|access-date=2021-09-18}}</ref> In October 2020, the sales of Lau's French wines at Sotheby's in Hong Kong brought a total of $6.8 million, more than doubling pre-sale expectations.<ref>{{Cite web|last=Wang|first=Natalie|date=2020-10-07|title=Sotheby's achieved 'white glove' sales from fugitive HK billionaire wine collection|url=https://vino-joy.com/2020/10/07/sothebys-achieved-white-glove-sales-from-fugitive-hk-billionaire-wine-collection/|access-date=2021-09-18|website=Vino Joy News|language=en-GB}}</ref> Following the success of the sale, Lau sold 147 lots (533 bottles in total) again at Sotheby's in Hong Kong.<ref>{{Cite web|title=Wines from the Cellar of Joseph Lau Part II 劉鑾雄窖藏佳釀（第二部份）|url=https://www.sothebys.com/en/digital-catalogues/wines-from-the-cellar-of-joseph-lau-part-ii|website=Sotheby's}}</ref><ref>{{Cite web|date=2021-04-20|title=Sotheby's Hong Kong spring sale ends on a high note|url=https://www.thedrinksbusiness.com/2021/04/sothebys-spring-sale-ended-at-high-note/|access-date=2021-09-18|website=The Drinks Business|language=en-US}}</ref> The sale brought a total of $6.8 million, also doubling its pre-sale estimate.<ref>{{Cite web|last=Wang|first=Natalie|date=2021-04-19|title=US$6.8m wines from Hong Kong billionaire Joseph Lau sold out|url=https://vino-joy.com/2021/04/19/us6-8m-wines-from-hong-kong-billionaire-joseph-lau-sold-out/|access-date=2021-09-18|website=Vino Joy News|language=en-GB}}</ref>


==Personal life==
==Personal life==
Lau married Bo Wing-kam (1954–2003) in 1977 and they were divorced in 1992. They had two children: a son, Lau Ming-wai (born 1979 Dec) and daughter Jade Lau Sau-yung (born 1983). In 2008, Lau Ming-wai's wife gave birth to twins, they are Lau's eldest grandchildren. Lau Ming-wai, a British citizen, is vice-chairman of [[Chinese Estates Group]] and is both chairman of the government's Commission on Youth and on the steering committee of the HK$10&nbsp;billion [[Community Care Fund]], established in 2010.<ref>[https://www.hongkongfp.com/2016/04/20/panama-papers-future-political-star-and-heung-yee-kuk-lawmaker-have-british-nationality/ Panama Papers: Future political star and Heung Yee Kuk lawmaker have British nationality], Hong Kong Free Press, 20 April 2016</ref> He was formerly a member of the Commission on Poverty. In 2011, he was part of [[Henry Tang]]'s election team for the [[2012 Hong Kong Chief Executive election|2012 chief executive election]].<ref>Lo, Alex (28 Nov 2011). [http://www.scmp.com/article/986189/man-henry-tangs-coat-tails "The man on Henry Tang's coat-tails"], ''South China Morning Post''.</ref>
Lau married Po Wing-kam (1954–2003) in 1977 and they were divorced in 1992. They had two children: a son, Lau Ming-wai (born 1979 Dec) and daughter Jade Lau Sau-yung (born 1983). In 2008, Lau Ming-wai's wife gave birth to twins; they are Lau's eldest grandchildren. Lau Ming-wai, a British citizen, is vice-chairman of [[Chinese Estates Group]] and is both chairman of the government's Commission on Youth and on the steering committee of the HK$10&nbsp;billion [[Community Care Fund]], established in 2010.<ref>[https://www.hongkongfp.com/2016/04/20/panama-papers-future-political-star-and-heung-yee-kuk-lawmaker-have-british-nationality/ Panama Papers: Future political star and Heung Yee Kuk lawmaker have British nationality], Hong Kong Free Press, 20 April 2016</ref> He was formerly a member of the Commission on Poverty. In 2011, he was part of [[Henry Tang]]'s election team for the [[2012 Hong Kong Chief Executive election|2012 chief executive election]].<ref>Lo, Alex (28 November 2011). [http://www.scmp.com/article/986189/man-henry-tangs-coat-tails "The man on Henry Tang's coat-tails"], ''South China Morning Post''.</ref>


Lau had five additional children with two women concurrently out of wedlock, two with Yvonne Lui and three with Kimbee Chan (aka Chan Hoi-wan).<ref name="20101028forbes">{{Cite news|url=https://www.forbes.com/sites/robertolsen/2010/10/28/tycoons-two-girlfriends-seek-1-4-billion-of-aia-shares/|title=Tycoon's Two Girlfriends Seek $1.4 Billion of AIA Shares|first=Robert|last=Olsen|work=Forbes|date=28 October 2010|access-date=21 June 2013}}</ref>
Lau had five additional children with two women concurrently out of wedlock, two with Yvonne Lui and three with Kimbee Chan (aka Chan Hoi-wan).<ref name="20101028forbes">{{Cite news|url=https://www.forbes.com/sites/robertolsen/2010/10/28/tycoons-two-girlfriends-seek-1-4-billion-of-aia-shares/|title=Tycoon's Two Girlfriends Seek $1.4 Billion of AIA Shares|first=Robert|last=Olsen|work=Forbes|date=28 October 2010|access-date=21 June 2013}}</ref>


In May 2007, Lau was revealed to be among the first seven purchasers of a [[Boeing 787]] Dreamliner jet for private use.<ref name="abcnews">{{Cite news|url=http://www.abcnews.go.com/Technology/wireStory?id=3200271|title=ABC News |newspaper=[[ABC News]]<!-- Bot generated title -->|accessdate=12 August 2022}}</ref>
In May 2007, Lau was revealed to be among the first seven purchasers of a [[Boeing 787]] Dreamliner jet for private use.<ref name="abcnews">{{Cite news|url=http://www.abcnews.go.com/Technology/wireStory?id=3200271|title=ABC News|publisher=[[ABC News (United States)|ABC News]] |accessdate=12 August 2022|archive-date=29 June 2011|archive-url=https://web.archive.org/web/20110629024132/http://abcnews.go.com/Technology/wireStory?id=3200271|url-status=dead}}</ref>


In 2009, Lau bought a 7.03 carat blue diamond for his daughter Josephine, that he named the "Star of Josephine" at [[Sotheby's]] for $9.5&nbsp;million.<ref name="GuardNov15">{{cite news |url=http://www.luxuo.com/most-expensive/1-million-coupon-palm-beach.html |title=Billionaire buys 7-year-old daughter Blue Moon diamond for record $48m |date=12 November 2015 |work=The Guardian |access-date=12 November 2015}}</ref>
In 2009, Lau bought a 7.03 carat blue diamond for his daughter Josephine, that he named the "Star of Josephine" at [[Sotheby's]] for $9.5&nbsp;million.<ref name="GuardNov15">{{cite news |url=http://www.luxuo.com/most-expensive/1-million-coupon-palm-beach.html |title=Billionaire buys 7-year-old daughter Blue Moon diamond for record $48m |date=12 November 2015 |work=The Guardian |access-date=12 November 2015}}</ref>


⚫
In November 2015, Lau bought two expensive diamonds for his 7-year-old daughter Josephine.<ref name=":4">{{cite web|title=Crooked tycoon buys daughter $77M in diamonds at auctions|date=12 November 2015 |url=http://www.cbsnews.com/news/blue-moon-pink-diamond-hong-kong-billionaire-joseph-lau-auctions/|publisher=CBS News|access-date=12 November 2015}}</ref><ref name="Diamond">{{cite news|title=What a gem: Hong Kong tycoon buys daughter $48 mn diamond|url=https://news.yahoo.com/gem-hong-kong-tycoon-buys-daughter-48-mn-043248101.html|access-date=12 November 2015|agency=Agence France-Presse|publisher=Yahoo News|date=12 November 2015}}</ref> On 10 November, he bought a 16.08 carat pink diamond at Christie's for $28.5&nbsp;million.<ref name="Diamond" /> The next day, Lau bought a 12.03 carat blue diamond at Sotheby's for $48.4&nbsp;million, setting new records for the most expensive jewel sold at auction and the most expensive diamond ever.<ref name="Diamond" /> He subsequently renamed them the "[[Sweet Josephine Diamond|Sweet Josephine]]" and the "[[Blue Moon of Josephine Diamond|Blue Moon of Josephine]]" respectively after his daughter.<ref name="Diamond" />
In November 2014, Lau bought a 9.75 carat blue diamond for his 13-year-old daughter Zoe at Sotheby's for $32.6&nbsp;million, that he named "Zoe Diamond".<ref>{{cite web|last1=DeMarco|first1=Anthony|title=Bunny Mellon's Blue Diamond Sells For More Than $32.6 Million, Sets Two World Auction Records|url=https://www.forbes.com/sites/anthonydemarco/2014/11/21/9-75-carat-blue-diamond-sets-two-world-auction-records/|website=Forbes|access-date=12 November 2015}}</ref> He also bought her a Cartier brooch featuring a 10.1 carat ruby, that he named "Zoe Red" at [[Christie's]] for $8.4&nbsp;million.<ref>{{cite web|title=AN EXTREMELY RARE RUBY AND DIAMOND BROOCH, BY CARTIER|url=http://www.christies.com/lotfinder/jewelry/an-extremely-rare-ruby-and-diamond-brooch-5853020-details.aspx?from=salesummary&intObjectID=5853020&sid=19d06f6d-7640-4d28-b3d6-8773d0e61b58|website=Chistie's|access-date=12 November 2015}}</ref><ref name=":4" />

⚫
In November 2015, Lau bought two expensive diamonds for his 7-year old daughter Josephine.<ref name=":4">{{cite web|title=Crooked tycoon buys daughter $77M in diamonds at auctions|url=http://www.cbsnews.com/news/blue-moon-pink-diamond-hong-kong-billionaire-joseph-lau-auctions/|work=CBS News|access-date=12 November 2015}}</ref><ref name="Diamond">{{cite news|title=What a gem: Hong Kong tycoon buys daughter $48 mn diamond|url=https://news.yahoo.com/gem-hong-kong-tycoon-buys-daughter-48-mn-043248101.html|access-date=12 November 2015|agency=Agence France-Presse|publisher=Yahoo News|date=12 November 2015}}</ref> On 10 November, he bought a 16.08 carat pink diamond at Christie's for $28.5&nbsp;million.<ref name="Diamond" /> The next day, Lau bought a 12.03 carat blue diamond at Sotheby's for $48.4&nbsp;million, setting new records for the most expensive jewel sold at auction and the most expensive diamond ever.<ref name="Diamond" /> He subsequently renamed them the "[[Sweet Josephine Diamond|Sweet Josephine]]" and the "[[Blue Moon of Josephine Diamond|Blue Moon of Josephine]]" respectively after his daughter.<ref name="Diamond" />


On 7 December 2016, Lau married Kimbee Chan in Hong Kong.<ref>{{Cite web|url=http://hk.apple.nextmedia.com/realtime/finance/20161214/56047751|script-title=zh:【承認身份】大劉娶甘比 共同持有200億元華置股份|website=Apple Daily |language=zh|access-date=21 December 2016}}</ref>
On 7 December 2016, Lau married Kimbee Chan in Hong Kong.<ref>{{Cite web|url=http://hk.apple.nextmedia.com/realtime/finance/20161214/56047751|script-title=zh:【承認身份】大劉娶甘比 共同持有200億元華置股份|website=Apple Daily|language=zh|access-date=21 December 2016|archive-date=21 December 2016|archive-url=https://web.archive.org/web/20161221162337/http://hk.apple.nextmedia.com/realtime/finance/20161214/56047751|url-status=dead}}</ref>
In 2017, citing serious health issues, the business tycoon has transferred his 75% shares in Chinese Estates to his new wife and his son.<ref>{{Cite web|url=https://www.forbes.com/profile/joseph-lau/?list=billionaires|title=Joseph Lau|website=Forbes|access-date=7 May 2017}}</ref>
In 2017, citing serious health issues, the business tycoon has transferred his 75% shares in Chinese Estates to his new wife and his son.<ref>{{Cite web|url=https://www.forbes.com/profile/joseph-lau/?list=billionaires|title=Joseph Lau|website=Forbes|access-date=7 May 2017}}</ref>


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On 31 May 2012, the [[Court of Final Appeal (Macau)|Macau Court of Final Appeal]] confirmed that Lau and [[Steven Lo]] were involved in the case of offering Macau's former public works chief [[Ao Man-long]] HK$20&nbsp;million over the bid for five plots of land opposite [[Macau International Airport]]. Lau and Lo were charged with bribery and money laundering. They both denied the charges and Lo earlier told the court that the HK$20&nbsp;million was a preliminary payment to construction company San Meng Fai.
On 31 May 2012, the [[Court of Final Appeal (Macau)|Macau Court of Final Appeal]] confirmed that Lau and [[Steven Lo]] were involved in the case of offering Macau's former public works chief [[Ao Man-long]] HK$20&nbsp;million over the bid for five plots of land opposite [[Macau International Airport]]. Lau and Lo were charged with bribery and money laundering. They both denied the charges and Lo earlier told the court that the HK$20&nbsp;million was a preliminary payment to construction company San Meng Fai.


On 14 March 2014 Lau and Lo were found guilty of the charges against them in Macau's [[Legal system of Macau#High Court|Court of First Instance]]. Lau was sentenced to five years and three months in prison, but he appealed.<ref>{{cite news|date=14 March 2014|title=Billionaire Lau Guilty of Bribery, Corruption in Macau|agency=Bloomberg News|url=https://www.bloomberg.com/news/articles/2014-03-14/billionaire-lau-guilty-of-bribery-corruption-in-macau|access-date=12 November 2015}}</ref> However, on 19 July 2015, the [[Legal system of Macau#High Court|Court of Second Instance]] rejected his and Lo's appeals and let the length of their prison terms stand.<ref>{{cite news|last1=Lai|first1=Stephanie|date=19 July 2015|title=Court of Second Instance rejects appeal lodged by Joseph Lau, Steven Lo|work=Macau Business Daily|url=http://macaubusinessdaily.com/Politics/Court-Second-Instance-rejects-appeal-lodged-Joseph-Lau-Steven-Lo|access-date=12 November 2015}}</ref> Lau has so far evaded extradition and remains as a fugitive at large, as Macau and Hong Kong do not have an [[extradition]] treaty.<ref name=Diamond />
On 14 March 2014 Lau and Lo were found guilty of the charges against them in Macau's [[Legal system of Macau#High Court|Court of First Instance]]. Lau was sentenced to five years and three months in prison, but he appealed.<ref>{{cite news|date=14 March 2014|title=Billionaire Lau Guilty of Bribery, Corruption in Macau|publisher=Bloomberg News|url=https://www.bloomberg.com/news/articles/2014-03-14/billionaire-lau-guilty-of-bribery-corruption-in-macau|access-date=12 November 2015}}</ref> However, on 19 July 2015, the [[Legal system of Macau#High Court|Court of Second Instance]] rejected his and Lo's appeals and let the length of their prison terms stand.<ref>{{cite news|last1=Lai|first1=Stephanie|date=19 July 2015|title=Court of Second Instance rejects appeal lodged by Joseph Lau, Steven Lo|work=Macau Business Daily|url=http://macaubusinessdaily.com/Politics/Court-Second-Instance-rejects-appeal-lodged-Joseph-Lau-Steven-Lo|access-date=12 November 2015}}</ref> Lau has so far evaded extradition and remains as a fugitive at large, as Macau and Hong Kong do not have an [[extradition]] treaty.<ref name=Diamond />


==References==
==References==
{{reflist|colwidth=30em}}
{{reflist}}


==External link==
==External links==
{{Commons category-inline}}
{{Commonscatinline}}


{{DEFAULTSORT:Lau, Joseph}}
{{DEFAULTSORT:Lau, Joseph}}
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[[Category:Living people]]
[[Category:Living people]]
[[Category:University of Windsor alumni]]
[[Category:University of Windsor alumni]]
[[Category:People convicted of corruption]]

Latest revision as of 23:55, 6 November 2024

In this Hong Kong name, the surname is Lau. In accordance with Hong Kong custom, the Western-style name is Joseph Lau and the Chinese-style name is Lau Luen-hung.
Joseph Lau
Chairman of the Chinese Estates Holdings
In office
12 December 2006 – 14 March 2014
DeputyLau Ming Wai
Preceded byThomas Lau
Succeeded byLau Ming Wai
In office
1992 – 18 November 1999
Preceded byThomas Lau
Succeeded byThomas Lau
CEO of the Chinese Estates Holdings
In office
11 April 2006 – 14 March 2014
Succeeded byLau Ming Wai
Chairman of the Kwong Sang Hong International Limited
In office
24 February 1998 – 18 November 1999
Preceded byPhilip Leigh Tose
Succeeded byThomas Lau
Chairman of Evergo China Holdings Limited
In office
1994 – 18 November 1999
Succeeded byThomas Lau
Personal details
Born
Lau Luen-hung

(1951-07-19) 19 July 1951 (age 73)[1]
British Hong Kong
CitizenshipUnited Kingdom[2]
Hong Kong
Spouse(s)Theresa Po Wing-kam†[3]
(1977–1992, 2 children)
Kimbee Chan
(2016–present, 2 children)
Domestic partnerYvonne Lui (2002–2014)
RelationsThomas Lau (brother)
Children6
Alma materUniversity of Windsor, Canada[4]
OccupationBusinessman
NicknameBig Lau/Elder Lau (大劉)
Joseph Lau Luen Hung
Traditional Chinese劉鑾雄
Simplified Chinese刘銮雄
Transcriptions
Standard Mandarin
Hanyu PinyinLiú Luánxióng
Yue: Cantonese
Jyutpinglau4 lyun4 hung4

Joseph Lau Luen-hung (Chinese: 劉鑾雄; born 21 July 1951) is a Hong Kong billionaire businessman. Lau is the former chairman of property developer Chinese Estates. He is an avid art and wine collector. His fortune is estimated by Forbes at $13.3 billion as of September 2021.[5] In 2014, he became a convicted felon and fugitive in Macau.[6]

He lives in one of the most expensive houses in Hong Kong, at Goldsmith Road, Jardine's Lookout, valued at HK$2.5 billion with Chan Hoi-wan.[7]

Life and career

[edit]

Joseph Lau was born on 19 July 1951 in Hong Kong. He has a younger brother Thomas and two younger sisters. Lau attended the University of Windsor in Canada before returning to join his family's business making electric fans in 1974.[8] In 1978, he renamed the company Evergo Industrial Enterprise. In 1982, the company held an initial public offering in Hong Kong. In 1985, Lau switched Evergo's business focus to investment-holding and property-management services.[8]

Lau became the majority shareholder of Chinese Estates Holdings when he acquired a 43% stake in the company through Evergo in 1986. Since then, he's expanded his real estate investments through a series of acquisitions.[8] In 2000, he acquired 67% stake in Chi Cheung Investment.[8]

Chinese Estates Holdings developed The ONE, the tallest retail complex in Hong Kong, which opened in 2010. In 2017, Lau gifted the property to his wife Kimbie Chan Hoi-wan and their children.[9]

In March 2014, Lau resigned from his positions as chairman and CEO of Chinese Estates after a Macau court convicted him of bribery and money laundering.[8] His son Lau Ming-wai acceded to the chairmanship of the company. Sue Chan, the elder sister of Lau's wife Kimbie, became the chief executive of the company Lau founded.[10]

Art and wine collections

[edit]

Lau is an avid art collector. He ranks among ARTnews's list of the "Top 200 Collectors."[11] In 2017, Forbes has estimated the total value of his art collection at around a $1 billion.[11]

Lau owns the painting Everything Must Go (1984) by Jean-Michel Basquiat.[12] In 2006, Lau purchased Andy Warhol's Mao (1977), a portrait of Mao Zedong, for $17.4 million at Christie's.[13] In 2007, Lau purchased Paul Gauguin's Te Poipoi (The Morning) (1892), a painting of a Tahitian scene, for $39.2 million at a Sotheby's auction.[14]

In February 2020, Lau offered his David Hockney painting The Splash (1966) at Sotheby's contemporary art sale in London.[15] The painting sold for $29.9 million, which is the third highest price ever achieved for a Hockney at auction.[6]

Lau owns a collection of more than 10,000 bottles of red wine.[16] In October 2020, the sales of Lau's French wines at Sotheby's in Hong Kong brought a total of $6.8 million, more than doubling pre-sale expectations.[17] Following the success of the sale, Lau sold 147 lots (533 bottles in total) again at Sotheby's in Hong Kong.[18][19] The sale brought a total of $6.8 million, also doubling its pre-sale estimate.[20]

Personal life

[edit]

Lau married Po Wing-kam (1954–2003) in 1977 and they were divorced in 1992. They had two children: a son, Lau Ming-wai (born 1979 Dec) and daughter Jade Lau Sau-yung (born 1983). In 2008, Lau Ming-wai's wife gave birth to twins; they are Lau's eldest grandchildren. Lau Ming-wai, a British citizen, is vice-chairman of Chinese Estates Group and is both chairman of the government's Commission on Youth and on the steering committee of the HK$10 billion Community Care Fund, established in 2010.[21] He was formerly a member of the Commission on Poverty. In 2011, he was part of Henry Tang's election team for the 2012 chief executive election.[22]

Lau had five additional children with two women concurrently out of wedlock, two with Yvonne Lui and three with Kimbee Chan (aka Chan Hoi-wan).[23]

In May 2007, Lau was revealed to be among the first seven purchasers of a Boeing 787 Dreamliner jet for private use.[24]

In 2009, Lau bought a 7.03 carat blue diamond for his daughter Josephine, that he named the "Star of Josephine" at Sotheby's for $9.5 million.[25]

In November 2015, Lau bought two expensive diamonds for his 7-year-old daughter Josephine.[26][27] On 10 November, he bought a 16.08 carat pink diamond at Christie's for $28.5 million.[27] The next day, Lau bought a 12.03 carat blue diamond at Sotheby's for $48.4 million, setting new records for the most expensive jewel sold at auction and the most expensive diamond ever.[27] He subsequently renamed them the "Sweet Josephine" and the "Blue Moon of Josephine" respectively after his daughter.[27]

On 7 December 2016, Lau married Kimbee Chan in Hong Kong.[28] In 2017, citing serious health issues, the business tycoon has transferred his 75% shares in Chinese Estates to his new wife and his son.[29]

[edit]

On 31 May 2012, the Macau Court of Final Appeal confirmed that Lau and Steven Lo were involved in the case of offering Macau's former public works chief Ao Man-long HK$20 million over the bid for five plots of land opposite Macau International Airport. Lau and Lo were charged with bribery and money laundering. They both denied the charges and Lo earlier told the court that the HK$20 million was a preliminary payment to construction company San Meng Fai.

On 14 March 2014 Lau and Lo were found guilty of the charges against them in Macau's Court of First Instance. Lau was sentenced to five years and three months in prison, but he appealed.[30] However, on 19 July 2015, the Court of Second Instance rejected his and Lo's appeals and let the length of their prison terms stand.[31] Lau has so far evaded extradition and remains as a fugitive at large, as Macau and Hong Kong do not have an extradition treaty.[27]

References

[edit]
  1. ^ "Lau, Joseph Luen Hung 劉鑾雄". Webb-site. 13 December 2014.
  2. ^ Lo, Alex (4 May 2016). "Holding a foreign passport is fine – as long as no one finds out". South China Morning Post. Retrieved 18 September 2021.
  3. ^ "Theresa Po left behind a life in media's gaze". South China Morning Post.
  4. ^ "Executive Directors". Chinese Estates Group. 2008. Archived from the original on 1 February 2008. Retrieved 1 February 2008.
  5. ^ "Joseph Lau". Forbes. Retrieved 18 September 2021.
  6. ^ a b "Did fugitive tycoon Joseph Lau sell a David Hockney painting for US$30 million?". South China Morning Post. 16 February 2020. Retrieved 8 October 2020.
  7. ^ "【渣甸山大業主】大劉高士美道大屋 1億升至25億 ｜ 蘋果日報". 21 June 2021. Archived from the original on 21 June 2021. Retrieved 2 June 2023.
  8. ^ a b c d e "Bloomberg Billionaires Index". Bloomberg L.P. Retrieved 18 September 2021.
  9. ^ Nguy, Dominique (27 January 2017). "Tycoon gifts $18b building to wife". The Standard.
  10. ^ Kwok, Ben (12 November 2015). "Joseph Lau and the gift that keeps on giving". ejinsight. Archived from the original on 4 March 2016.
  11. ^ a b "Top 200 Collectors: Joseph Lau". ARTnews.com. 10 September 2017. Retrieved 18 September 2021.
  12. ^ "Chinese Estates Holdings invests largest Asian-owned commercial development approved by the City of London, UK in the last few". Bloomberg L.P. 22 August 2022. Retrieved 15 April 2023.
  13. ^ "Warhol's 'Mao' portrait sells for record $17.4M". TODAY.com. 16 November 2006. Retrieved 18 September 2021.
  14. ^ Peers, Alexandra (8 November 2007). "The Night the Art Market Went Bust?". Portfolio.com. Archived from the original on 4 May 2012. Retrieved 9 July 2022.
  15. ^ Solomon, Tessa (16 January 2020). "Fugitive Billionaire Joseph Lau Revealed as Seller of David Hockney's 'Splash': Report". ARTnews.com. Retrieved 18 September 2021.
  16. ^ "Boeing gets 787 order from Hong Kong's Lau". Reuters. 22 May 2007. Retrieved 18 September 2021.
  17. ^ Wang, Natalie (7 October 2020). "Sotheby's achieved 'white glove' sales from fugitive HK billionaire wine collection". Vino Joy News. Retrieved 18 September 2021.
  18. ^ "Wines from the Cellar of Joseph Lau Part II 劉鑾雄窖藏佳釀（第二部份）". Sotheby's.
  19. ^ "Sotheby's Hong Kong spring sale ends on a high note". The Drinks Business. 20 April 2021. Retrieved 18 September 2021.
  20. ^ Wang, Natalie (19 April 2021). "US$6.8m wines from Hong Kong billionaire Joseph Lau sold out". Vino Joy News. Retrieved 18 September 2021.
  21. ^ Panama Papers: Future political star and Heung Yee Kuk lawmaker have British nationality, Hong Kong Free Press, 20 April 2016
  22. ^ Lo, Alex (28 November 2011). "The man on Henry Tang's coat-tails", South China Morning Post.
  23. ^ Olsen, Robert (28 October 2010). "Tycoon's Two Girlfriends Seek $1.4 Billion of AIA Shares". Forbes. Retrieved 21 June 2013.
  24. ^ "ABC News". ABC News. Archived from the original on 29 June 2011. Retrieved 12 August 2022.
  25. ^ "Billionaire buys 7-year-old daughter Blue Moon diamond for record $48m". The Guardian. 12 November 2015. Retrieved 12 November 2015.
  26. ^ "Crooked tycoon buys daughter $77M in diamonds at auctions". CBS News. 12 November 2015. Retrieved 12 November 2015.
  27. ^ a b c d e "What a gem: Hong Kong tycoon buys daughter $48 mn diamond". Yahoo News. Agence France-Presse. 12 November 2015. Retrieved 12 November 2015.
  28. ^ 【承認身份】大劉娶甘比 共同持有200億元華置股份. Apple Daily (in Chinese). Archived from the original on 21 December 2016. Retrieved 21 December 2016.
  29. ^ "Joseph Lau". Forbes. Retrieved 7 May 2017.
  30. ^ "Billionaire Lau Guilty of Bribery, Corruption in Macau". Bloomberg News. 14 March 2014. Retrieved 12 November 2015.
  31. ^ Lai, Stephanie (19 July 2015). "Court of Second Instance rejects appeal lodged by Joseph Lau, Steven Lo". Macau Business Daily. Retrieved 12 November 2015.
[edit]

Media related to Joseph Lau at Wikimedia Commons

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