Passing of jewellery, property mogul Cheng marks new era for HK’s billionaires
Hong Kong's highest profile officials and business people on Thursday paid their respects to one of Asia's richest men, Cheng Yu-tung, whose passing marked the first of an ageing generation of tycoons whose hold on the city's economy faces growing challenges.
Cheng, who died aged 91 on September 29, was the billionaire founder of Hong Kong property group New World Development. His $17 billion empire included one of the world’s largest jewellery companies and spanned the infrastructure and telecommunications sectors, while his business dealings at one point included current U.S. presidential... read more
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