Samuel Tak Lee Explained

Samuel Tak Lee
Nationality:Hong Konger
Education:Diocesan Boys' School, Hong Kong
Alma Mater:Massachusetts Institute of Technology
Harvard Business School
Occupation:Property developer
Children:7

Samuel Tak Lee or Lee Tak-Yee (; born April 1939) is a Hong Kong property billionaire.

Early life

Lee was born in April 1939.[1] He was educated at Diocesan Boys' School in Mong Kok, before earning bachelor's and master's degrees in civil and environmental engineering from the Massachusetts Institute of Technology in 1964.[2] Lee then earned an MBA from Harvard Business School.[3]

Career

After finishing his studies, Lee returned to Hong Kong to join Prudential Enterprise, the real estate company founded by his father and uncle in 1958.[4] He took control of the entire business from his brother Lee Tak-Yan in 1985.[5] Prudential Enterprises owns the Prudential Hotel[6] in Hong Kong and has significant holdings in Hong Kong, Japan, Switzerland and Singapore.[7] [8] In the UK, he purchased the 14 acre Langham Estate in London's Fitzrovia district in 1994.[9] [10] A real estate portfolio Lee indirectly established in Tokyo in 1999 was eventually sold in 2017 for approximately $1.2 billion.[11] [12] [13] [14] [15]

By 2019 Lee had become the largest shareholder in Shaftesbury plc a large London real estate investment trust with a 26.3 per cent stake.[16] [17] [18] There was persistent media speculation that Lee would eventually bid for control of Shaftesbury.[19] [20] [21] The Times also reported that Lee was suing Shaftesbury for £10.4 million in alleged losses over a share placing. His interest in Shaftesbury was subsequently sold at a discount to Capco for $544 million in June 2020.[22] [23] [24]

Lee has been noted for his vigorous defence of his estate's legal rights and business interests. According to Forbes, he had a net worth of $3.6 billion, as of January 2021.[25]

Philanthropy

In 2007, Lee donated HK$9 million to Hong Kong's Diocesan Boys' School, of which he was a student between 1951 and 1958.[26] The donation was made to fund residential student growth with a new dormitory block for the school. One of Lee's sons was studying at the school at that time.[27] [28]

Lee donated $118 million in 2015 to the Massachusetts Institute of Technology, to be used to establish a real estate entrepreneurship lab focused on China.[29] The lab has been researching the impact of poor urban air quality on residents' health, social lives and behaviour.[30] [31]

Personal life

Lee is married with seven children and lives between Hong Kong and London. He reportedly owns the yachts Pelorus and Kogo.[32] [33] [34] The Lee family reported owns a Boeing aircraft and a large car collection.[35] [20]

Lee maintains a low profile and rarely speaks out about his many business dealings.[35] According to media reports and court documents Lee has a colourful personal life.[36] [37] [38] [39]

Samuel's son, Samathur Li Kin-kan, is famous for his divorce settlement, which the court of Hong Kong awarded his ex-wife HK$1.2 billion.[40] [41]

Notes and References

  1. Web site: Langham Estate Management Limited. Companies House. 10 August 2015. 7 February 2019. https://web.archive.org/web/20190207015320/https://beta.companieshouse.gov.uk/company/02879338/officers. live.
  2. Web site: Real Estate Billionaire Donates $118 Million To MIT. Olsen. Robert. Forbes. en. 2019-02-05. 10 January 2015. https://web.archive.org/web/20150110112945/https://www.forbes.com/sites/robertolsen/2015/01/10/real-estate-billionaire-donates-118-million-to-mit/. live.
  3. Web site: Samuel Tak Lee . Forbes.com . 11 May 2017 . 3 March 2014 . https://web.archive.org/web/20140303072146/https://www.forbes.com/profile/samuel-tak-lee/ . live .
  4. Web site: PRUDENTIAL ENTERPRISE, LIMITED - THE - 恒豐企業有限公司. 30 April 1958. 5 February 2019. 7 February 2019. https://web.archive.org/web/20190207020127/https://www.hkgbusiness.com/en/company/Prudential-Enterprise-Limited-The. live.
  5. Lee plays for keeps . EG: Estates Gazette . 414 . April 2004 . 44 .
  6. Web site: The Bruce Lee Guide to Yau Ma Tei. Bruce Lee's (Hong Kong-American actor, director, martial artist) home was torn down in the late 70’s early 80’s to make way for the current building – The Prudential Centre – completed in 1982.. 31 July 2014. Hong Kong (& Macau) Stuff. 11 February 2019. 12 February 2019. https://web.archive.org/web/20190212011601/http://hongkongandmacaustuff.blogspot.com/2014/07/the-bruce-lee-guide-to-yau-ma-tei.html. live.
  7. Luigino Canal (2007) "Un mystérieux Chinois rachète le coeur de Genève" Édition Bilan, 09 mai 2007, p.16
  8. Web site: MIT Receives $118M Gift From Alumnus. www.wbur.org. en. 2019-02-05. 7 February 2019. https://web.archive.org/web/20190207015937/https://www.wbur.org/news/2015/01/08/mit-samuel-tak-lee-gift. live.
  9. News: Chiu. Austin. Property tycoon Samuel Tak Lee challenges HK$1.4b awarded to son's ex-wife Florence Tsang Chiu-wing. 14 September 2017. The South China Morning Post. 21 Oct 2013. 15 September 2017. https://web.archive.org/web/20170915083552/http://www.scmp.com/news/hong-kong/article/1336558/property-tycoon-samuel-tak-lee-challenges-hk14b-awarded-sons-ex-wife. live.
  10. News: Moore. Malcolm. Asian property tycoon heir to pay £95 million to ex-wife. 14 September 2017. The Daily Telegraph. 2 December 2011. 15 September 2017. https://web.archive.org/web/20170915003310/http://www.telegraph.co.uk/news/worldnews/asia/hongkong/8931226/Asian-property-tycoon-heir-to-pay-95-million-to-ex-wife.html. live.
  11. Web site: Norges in $823M Japan JV with Tokyu Land. 2017-12-10. Mingtiandi. en-US. 2019-04-20. 20 April 2019. https://web.archive.org/web/20190420133719/https://www.mingtiandi.com/real-estate/finance-real-estate/norways-1t-sovereign-fund-enters-asia-with-823m-tokyo-bet/. live.
  12. Web site: Property news round up 17 Dec 2017 PropertyInvestSG. David. en-US. 2019-04-20. 20 April 2019. https://web.archive.org/web/20190420133728/https://www.propertyinvestsg.com/property-news-round-17-dec-2017/. live.
  13. Web site: Property tycoon Samuel Tak Lee challenges HK$1.4b awarded to son's ex-wife Florence Tsang Chiu-wing. 2013-10-21. South China Morning Post. en. 2019-04-20. 20 April 2019. https://web.archive.org/web/20190420133722/https://www.scmp.com/news/hong-kong/article/1336558/property-tycoon-samuel-tak-lee-challenges-hk14b-awarded-sons-ex-wife. live.
  14. Web site: Veloqx group real estate. papode.ml. 2019-04-20.
  15. Web site: Veloqx real estate. ringmares.ml. 2019-04-20.
  16. News: Is Sammy Tak Lee hoping to get lucky with Shaftesbury offer?. Marlow. Ben. Daily Telegraph. 2015-07-15. 2019-04-24. en-GB. 0307-1235. 7 February 2019. https://web.archive.org/web/20190207020416/https://www.telegraph.co.uk/finance/comment/11742480/Is-Sammy-Tak-Lee-hoping-to-get-lucky-with-Shaftesbury-offer.html. live.
  17. News: Hong Kong tycoon Samuel Tak Lee's war on Chinatown owner. Shah. Oliver. 2018-05-20. The Sunday Times. 2019-04-24. en. 0956-1382. 24 April 2019. https://web.archive.org/web/20190424190314/https://www.thetimes.co.uk/article/hong-kong-tycoon-samuel-tak-lees-war-on-chinatown-owner-62mvqsdq8. live.
  18. News: Property tycoon sues West End landowner. Clarence-Smith. Louisa. 2019-06-12. The Times. 2019-06-12. en. 0140-0460. 12 June 2019. https://web.archive.org/web/20190612091636/https://www.thetimes.co.uk/article/property-tycoon-sues-west-end-landowner-xnfc2jf9k. live.
  19. Web site: The battle for a £3 billion property empire in London's Chinatown just took a new turn. UK. Will Martin, Business Insider. Business Insider. 2019-04-24. 24 April 2019. https://web.archive.org/web/20190424190312/https://www.businessinsider.com/norway-sovereign-wealth-fund-london-chinatown-shaftesbury-2018-2. live.
  20. Web site: Time for 'Man of Mystery' Shaftesbury shareholder to put up or shut up. 2019-01-29. Evening Standard. en. 2019-04-24. 24 April 2019. https://web.archive.org/web/20190424191811/https://www.standard.co.uk/business/jim-armitage-it-s-time-for-man-of-mystery-shaftesbury-shareholder-to-put-up-or-shut-up-a4051731.html. live.
  21. Web site: Samuel Tak Lee locks horns with Shaftesbury again. 2019-05-02. QuotedData. en. 2019-06-01. 1 June 2019. https://web.archive.org/web/20190601135737/https://quoteddata.com/2019/05/samuel-tak-lee-locks-horns-shaftesbury/. live.
  22. Web site: 2020-06-02 . Samuel Tak Lee Sells Stake in Shaftesbury for £436M . 2020-06-02 . Mingtiandi . en-US . 11 June 2020 . https://web.archive.org/web/20200611090247/https://www.mingtiandi.com/real-estate/outbound-investment/samuel-tak-lee-sells-stake-in-shaftesbury-for-436m/ . live .
  23. Web site: 2020-06-02 . Samuel Tak Lee Sells Stake in Shaftesbury for £436M . 2020-06-11 . Mingtiandi . en-US . 11 June 2020 . https://web.archive.org/web/20200611090247/https://www.mingtiandi.com/real-estate/outbound-investment/samuel-tak-lee-sells-stake-in-shaftesbury-for-436m/ . live .
  24. News: 2020-06-01 . UK's Capco buys 26% stake in rival Shaftesbury for $540 mln . en . Reuters . 2022-03-21 . 21 March 2022 . https://web.archive.org/web/20220321185610/https://www.reuters.com/article/shaftesbury-stake-capital-counties-idUSL4N2DE1QM . live .
  25. Web site: Forbes profile: Samuel Tak Lee . Forbes . 25 January 2021 . 3 March 2014 . https://web.archive.org/web/20140303072146/https://www.forbes.com/profile/samuel-tak-lee/ . live .
  26. Web site: Real Estate Billionaire Donates $118 Million to MIT. Forbes. 10 January 2015. 28 April 2015. 10 January 2015. https://web.archive.org/web/20150110112945/https://www.forbes.com/sites/robertolsen/2015/01/10/real-estate-billionaire-donates-118-million-to-mit/. live.
  27. Web site: Donation of HK$70m among city's largest. 2019-02-12. South China Morning Post. en. 2019-02-11. 12 February 2019. https://web.archive.org/web/20190212074544/https://www.scmp.com/article/615035/donation-hk70m-among-citys-largest. live.
  28. Web site: DBS64 50th Anniversary Magazine. Issuu. en. 2019-02-11. 21 October 2016. https://web.archive.org/web/20161021131426/https://issuu.com/dbs64/docs/document.compressed. live.
  29. Web site: Hong Kong tycoon Samuel Tak Lee donates US$118m to MIT for real estate studies. South China Morning Post. 9 January 2015. 28 April 2015. 16 May 2015. https://web.archive.org/web/20150516191028/http://www.scmp.com/news/hong-kong/article/1677860/hong-kong-tycoon-samuel-tak-lee-donates-us118m-mit-sustainable-real. live.
  30. Web site: In China, a link between happiness and air quality: Moods expressed on social media tend to decline when air pollution gets worse, study finds. Massachusetts Institute of Technology. January 21, 2019. ScienceDaily. en. 2019-02-11. 12 February 2019. https://web.archive.org/web/20190212070457/https://www.sciencedaily.com/releases/2019/01/190121115335.htm. live.
  31. Web site: The city is her lab -- Siqi Zheng studies the economics of China's urban explosion.. MIT News. 2019-02-11. 15 February 2019. https://web.archive.org/web/20190215134447/http://news.mit.edu/2018/faculty-profile-siqi-zheng-0703. live.
  32. Web site: Hanson . Dana . 2022-03-12 . The 10 Most Expensive Sailboats in the World . 2022-03-21 . Money Inc . en-US . 14 March 2022 . https://web.archive.org/web/20220314221758/https://moneyinc.com/most-expensive-sailboats/ . live .
  33. Web site: Pelorus sold to Chinese billionaire. Yacht Harbour. en. 2019-01-29. 29 January 2019. https://web.archive.org/web/20190129181809/https://yachtharbour.com/news/pelorus-sold-to-chinese-billionaire-1026. live.
  34. Web site: Klein . Michael . 2021-07-16 . Crew of Cayman-registered superyacht sues for unpaid wages . 2022-03-21 . Cayman Compass . en-GB . 30 September 2021 . https://web.archive.org/web/20210930032047/https://www.caymancompass.com/2021/07/16/crew-of-cayman-registered-superyacht-sues-for-unpaid-wages/ . live .
  35. News: Is Sammy Tak Lee hoping to get lucky with Shaftesbury offer?. Marlow. Ben. Daily Telegraph. 2015-07-15. 2019-02-05. en-GB. 0307-1235. 7 February 2019. https://web.archive.org/web/20190207020416/https://www.telegraph.co.uk/finance/comment/11742480/Is-Sammy-Tak-Lee-hoping-to-get-lucky-with-Shaftesbury-offer.html. live.
  36. Web site: Tycoon who accused ex-lover of blackmail. 2011-09-26. Evening Standard. en. 2019-01-29. 30 January 2019. https://web.archive.org/web/20190130000452/https://www.standard.co.uk/news/tycoon-who-accused-ex-lover-of-blackmail-is-exposed-as-a-liar-6447169.html. live.
  37. Web site: Favor Easy Management Ltd, Samuel Tak Lee v Fuk Fei Wu, Favor Easy Management Ltd (2012). www.maitlandchambers.com. en-gb. 2019-02-05. 7 February 2019. https://web.archive.org/web/20190207072216/https://www.maitlandchambers.com/information/recent-cases/favor-easy-management-ltd-samuel-tak-lee-v-fuk-fei-wu-favor-easy-management. live.
  38. Web site: Court slashes record divorce payout for property scion's ex-wife. 2014-01-10. South China Morning Post. en. 2019-01-29. 23 July 2017. https://web.archive.org/web/20170723181226/http://www.scmp.com/news/hong-kong/article/1402308/court-slashes-record-divorce-payout-property-scions-ex-wife. live.
  39. Web site: Court forces property tycoon to give houses to mistress. Andrew Hough. 30 Jul 2011. www.telegraph.co.uk. 2019-01-29. 29 January 2019. https://web.archive.org/web/20190129181449/https://www.telegraph.co.uk/finance/property/news/8670624/Court-forces-property-tycoon-to-give-houses-to-mistress.html. live.
  40. News: The billionaire divorce case that gripped the city. n.d.. 27 March 2021. South China Morning Post. Hong Kong. 5 October 2013. https://web.archive.org/web/20131005040433/http://www.scmp.com/article/986560/billionaire-divorce-case-gripped-city. live.
  41. Web site: 2019-05-10 . Who do you sue when a robot loses your fortune? . 2022-03-21 . The Sydney Morning Herald . en . 21 March 2022 . https://web.archive.org/web/20220321185716/https://www.smh.com.au/business/markets/who-do-you-sue-when-a-robot-loses-your-fortune-20190508-p51l82.html . live .

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