Hong Kong Mourns Tycoon Who 'Knew How To Spend'

Property magnate Lee Shau Kee was known for his motto on what constitutes success

- Magdalene Fung

Hong Kong mourned one of its richest and most influential men, property magnate and philanthropist Lee Shau Kee, who died on March 17.

Mr Lee, founder of Henderson Land Group, died peacefully surrounded by family, his company said. He was 97. Two sons and three daughters survive him.

The date of his funeral will be announced after his family finalises the arrangements, the company added.

Officials expressed sorrow over the tycoon's passing.

"(Mr) Lee was an outstanding business leader and entrepreneur who had made significant contributions to Hong Kong's economic development, as well as the city's prosperity and stability," Chief Executive John Lee said in a statement of condolence late on March 17.

The city's No. 2 official, Financial Secretary Paul Chan, called Mr Lee "a model for the Hong Kong business world".

"(Mr Lee) lived simply and worked hard," Mr Chan wrote in a Facebook post just before midnight. "He was humble, courteous, humorous, enjoyed doing good and cared for the society. He was not only respected and loved by his employees but was also widely affirmed by the whole society."

Other officials remembered his contributions to the city's property and education sectors, donating land and homes for the underprivileged, as well as funds to build schools and offer scholarships across Hong Kong and mainland China.

Henderson vice-chairman Colin Lam, who worked with Mr Lee for decades, described him as a "patriot who loved the country and the city, (and was) kind, compassionate, charitable and virtuous".