Hong Kong’s second-richest billionaire Lee Shau Kee remembered as the type of boss now ‘extinct’

Suen Kwok Lam, an executive director at Lee’s flagship firm Henderson Land, praised Lee for his fairness in treating staff, partners, and family alike, according to Hong Kong newspaper The Standard.

He also highlighted Lee’s willingness to prioritize promoting collaboration over higher profits and his composed and easy-going personality.

Having been with the firm for nearly 30 years, Suen had not seen the tycoon lose his patience or berate employees for mistakes.

He instead offered them encouragement, fostering loyalty that kept many at the company for 20-30 years, Suen said.

The long-time executive described Lee as the type of boss now "extinct," adding that everyone who worked with the tycoon spoke highly of him.

Lee was known as an old-school businessman who upheld family values and Chinese traditions, a reputation he maintained even as his wealth surge over the years.

And, to the tycoon, family was not limited to relatives but also extended to longtime staff, as per Nikkei Asia.

He once instructed Henderson’s accountant to bail out an employee facing bankruptcy due to failed property investments in the 1980s, despite the firm’s own debt troubles at the time, according to his biography.

"If I don't help him during such a difficult time, who would?" Lee was quoted as saying.

He often celebrated his family's happiest moments with his staff.

To celebrate the birth of his seventh grandchild in 2015, Lee gifted HK$10,000 (US$1,300) in cash to each of his 1,500 employees and close friends, as reported by the South China Morning Post.

At the time, a Henderson spokesperson said that the move cost him at least HK$15 million and marked the fifth time Lee had distributed cash gifts for a major family event.

He had previously done so for the births of other grandchildren and for the wedding of his younger son, Martin Lee.

Following his passing on Monday, Hong Kong’s financial secretary, Paul Chan, wrote a Facebook post paying tribute to the late tycoon, referring to him as "a model for the Hong Kong business world."

"He was not only respected and loved by his employees but was also widely affirmed by the whole society," he said, as quoted by The Straits Times.

Forbes ranked him as Hong Kong’s second-richest man in February and his net worth was estimated at US$30 billion by the time of his death.

He was once the richest person in Asia in 1996 and 1997 and the fourth wealthiest globally in 1996. He is also known for his vast philanthropic legacy.