Lee Shau Kee’s children spend over $380K on memorial for late Hong Kong’s second-richest billionaire

By Hai Trieu   April 1, 2025 | 03:06 pm PT
Lee Shau Kee’s children spend over $380K on memorial for late Hong Kong’s second-richest billionaire
Lee Shau Kee (center), chairman of Henderson Land Development, and his sons Peter Lee Ka Kit (right) and Martin Lee Ka Shing (left) attend the 44th Annual General Meeting of Henderson Land Development in Hong Kong, China, May 28, 2019. Photo by Imaginechina via AFP
The two sons and daughter-in-law of Lee Shau Kee, Hong Kong’s second-richest man, spent HK$3 million (US$385,500) to organize a memorial ceremony for the late billionaire, according to local media.

Lee’s sons, Peter Lee Ka Kit and Martin Lee Ka Shing, along with Martin’s wife Cathy Chui showed their filial piety by setting up paper offerings for the deceased patriarch at a temple, a source told local news website HK01 last Saturday.

The family rented the entire temple hall, with offerings stacked outside, and 200 monks taking turns chanting sutras over the course of five days, according to Sohu.

The source said the cost was over HK$3 million, a sum far beyond what ordinary people could afford. White rice, tea, and vegetarian food were placed before three pieces of paper, each bearing the names of Peter, Martin and Cathy.

In addition to the paper memorial plaques in the main hall, a five-meter-long life-size boat featuring intricate decorations and complex details was also placed outside. Papers placed on the boat reportedly bore the signatures of Lee’s three daughters.

The family has not yet announced the date for Lee’s funeral, which is expected to take place following the memorial ceremony. The real estate tycoon passed away on March 17 at age 97.

Hong Kong media reported that when Lee decided to retire in 2019, he passed the family business, Henderson Land Development, on to his two sons.

His three daughters did not inherit the business but hold senior positions in the company and need not worry about their financial security, according to Chinese news site 163.

Born in 1928 in Guangdong, China, Lee moved to Hong Kong to start his career at a young age. Initially involved in gold and foreign exchange trading, he quickly turned to real estate, where he found great success and built a legendary career.

He was often dubbed "Asia’s god of stocks" or "Hong Kong’s Warren Buffett." According to Forbes, Lee had an estimated fortune of US$30 billion before his death.

 
 
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