[ad_1]
Geoffrey and Jonathan Kwok are the beneficiaries of a 211 million-share trust held through a structure comprised of British Virgin Islands-based holding companies, Asporto Ltd. and Fortress Gold Ltd., registered at the Hong Kong Stock Exchange. The documents do not reveal the exact participation of each son.
Sun Hung Kai's representatives did not immediately respond to a request for comment.
According to a 2012 South China Post article, Geoffrey had studied at Stanford University after a stay at Sun Hung Kai, while Jonathan was studying in New York and their sister was working in Singapore. Their father, Walter Kwok, died in October, at the age of 68, following a heart attack.
His funeral, on November 1, in the Cathedral of St. John in downtown Hong Kong, attracted many elites of the city. Hong Kong leaders Carrie Lam and Li Ka-Shing sent wreaths.
Walter Kwok's wealth transfer is the latest in a family saga involving kidnapping, spill-off and corruption trials.
€ Big Spender
Walter Kwok was the eldest of three sons who inherited the fortune of Kwok Tak-seng, a grocery wholesaler from Guangdong Province, China, who immigrated to Hong Kong after World War II. World.
Kwok Tak-seng joined Fung King-hey and Lee Shau Kee to found Sun Hung Kai Properties in 1963. The company sold the shares of an IPO in Hong Kong in August 1972 and became one of the largest Real estate developers in the world in terms of market value.
Sun Hung Kai's business has since expanded to other areas, including logistics and telecommunications.
The three sons – Walter, Thomas and Raymond – took over the business after their father's death from a heart attack in 1990. Walter, also known by his Chinese name Ping-sheung, ran the company. He was kidnapped in 1997. by a Hong Kong gang leader nicknamed "Big Spender", who also detained the son of billionaire billionaire Hong Kong's Li Ka-shing, against ransom.
A public family feud led to a long leave of Walter, then to his ouster from president in 2008. Walter stated that Thomas and Raymond had dismissed him because they thought he was suffering from 39, a mental illness, which he denied.
The Hong Kong Standard newspaper reported that Walter had been forced to leave on a break with his brothers over the growing influence of a friend in the company. He then sued his brothers and sisters for defamation. – Bloomberg
[ad_2]
Source link
