Examine individual changes

'{{Short description|Hong Kong businessman}} {{EngvarB|date=November 2018}} {{Use dmy dates|date=November 2018}} {{family name hatnote|[[Liu (surname)|Lau]]|Joseph Lau|Lau Luen-hung|lang=Hong Kong}} {{Infobox officeholder | name = Joseph Lau | image = Joseph Lau - Yvonnelui3 (cropped).jpg | caption = | birth_name = Lau Luen-hung | birth_date = {{birth date and age|df=y|1951|7|19 }}<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]] | 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 | 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> | occupation = Businessman | spouse = Theresa Po Wing-kam†<ref>{{cite news|url=http://www.scmp.com/article/413182/theresa-po-left-behind-life-medias-gaze |title=Theresa Po left behind a life in media's gaze| work= South China Morning Post}}</ref><br /> (1977–1992, 2 children)<br />Kimbee Chan<br /> (2016–present, 2 children) | partner = [[Yvonne Lui]] (2002–2014) | children = 6 | relations = [[Thomas Lau]] (brother) | office = Chairman of the [[Chinese Estates Holdings]] | term_start = 12 December 2006 | term_end = 14 March 2014 | predecessor = [[Thomas Lau]] | successor = Lau Ming Wai | deputy = Lau Ming Wai | term_start1 = 1992 | term_end1 = 18 November 1999 | predecessor1 = [[Thomas Lau]] | successor1 = [[Thomas Lau]] | office2 = CEO of the [[Chinese Estates Holdings]] | term_start2 = 11 April 2006 | term_end2 = 14 March 2014 | successor2 = Lau Ming Wai | office3 = Chairman of the Kwong Sang Hong International Limited | term_start3 = 24 February 1998 | term_end3 = 18 November 1999 | predecessor3 = Philip Leigh Tose | successor3 = [[Thomas Lau]] | office4 = Chairman of Evergo China Holdings Limited | term_start4 = 1994 | term_end4 = 18 November 1999 | successor4 = [[Thomas Lau]] | nickname = Big Lau/Elder Lau ({{lang|zh-hant|大劉}}) }} {{Infobox Chinese |title=Joseph Lau Luen Hung |order=ts |t=劉鑾雄 |s=刘銮雄 |j=lau4 lyun4 hung4 |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$30 million?|url=https://www.scmp.com/magazines/style/news-trends/article/3050694/did-fugitive-hong-kong-tycoon-joseph-lau-just-sell|access-date=2020-10-08|website=South China Morning Post|language=en}}</ref> He lives in the most expensive house in Hong Kong, at Goldsmith Road, [[Jardine's Lookout|Jardine’s Lookout]], valued at HK$ 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://web.archive.org/web/20210621185150/https://hk.appledaily.com/finance/20180615/65Y5EC5GAUAVUOT75WR2ZZLDLU/ |access-date=2023-06-02 |website=web.archive.org}}</ref> <ref>{{Citation |title=List of most expensive houses in Hong Kong |date=2023-06-02 |url=https://en.wikipedia.org/enwiki/w/index.php?title=List_of_most_expensive_houses_in_Hong_Kong&oldid=1158139001 |work=Wikipedia |access-date=2023-06-02 |language=en}}</ref> ==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" /> 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> 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> == 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 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 |work=Bloomberg.com |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=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> 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> ==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 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|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 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|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> ==Legal issues== 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 /> ==References== {{reflist|colwidth=30em}} ==External links== {{Commons category-inline}} {{DEFAULTSORT:Lau, Joseph}} [[Category:1951 births]] [[Category:Fugitives]] [[Category:Hong Kong billionaires]] [[Category:Hong Kong chief executives]] [[Category:Hong Kong criminals]] [[Category:Hong Kong financial businesspeople]] [[Category:Hong Kong philanthropists]] [[Category:Hong Kong real estate businesspeople]] [[Category:Living people]] [[Category:University of Windsor alumni]]'