Lui Che Woo is a prominent figure in Hong Kong’s business landscape. As a business magnate, investor, and philanthropist, he has made significant contributions to various industries and has been recognized for his philanthropic endeavors. This biography explores Lui Che Woo’s background, his business career, public service involvement, philanthropy, and notable achievements.
Lui Che Woo’s Early Life And Background
Lui Che Woo was born on August 9, 1929, in Jiangmen, China. His entrepreneurial journey began in the 1950s when he established the first K. Wah company in Hong Kong. This marked the beginning of his foray into the business world, which would eventually lead him to become a prominent figure in the industry.
Business Career and Success
Lui Che Woo’s business empire encompasses a wide range of industries. His major companies include K. Wah International Holdings Ltd., Galaxy Entertainment Group, Stanford Hotels International, and K. Wah Construction Materials Limited. Over the years, Lui’s business ventures have expanded to include gambling, property, entertainment and leisure, construction materials, and hotels.
The success of Lui’s business career can be attributed to his strategic expansion and diversification. In the 1960s, he ventured into property investment, and in the 1980s, he entered the hotel development sector. His expansion into mainland China occurred in the following decade. In 2002, Lui made a significant move by entering Macau’s gaming industry, becoming one of the six gaming concessionaires in the region.
One of Lui’s notable achievements in the gaming industry is the opening of the $2 billion Galaxy Macau casino and hotel in Macau in 2011. This luxurious establishment features 2,200 rooms, 50 restaurants, 450 gambling tables, an artificial beach, and a wave pool.
Lui Che Woo’s Public Service Involvement
Lui Che Woo has also been actively involved in public service throughout his career. In the early 1980s, he served as the chair of the Tung Wah Group of Hospitals, a renowned charitable organization in Hong Kong. Additionally, Lui holds various positions in tertiary institutions, emphasizing his commitment to education and academic development.
He is the founding honorary president of the University of Hong Kong Foundation of Educational Development and Research. Lui is also a member of the board of trustees of United College of the Chinese University of Hong Kong, an honorary member of the court of Hong Kong University of Science and Technology, and a member of the consultative committee of the Hong Kong Polytechnic University.
Furthermore, Lui’s involvement in public service extends to governmental committees. He was elected to the small-circle Election Committee in 2006 for the chief executive selection process in Hong Kong. Additionally, he has been a member of the Hong Kong Government’s steering committee on MICE (Meetings, Incentives, Conventions, and Exhibitions) since 2007.
Philanthropy And Contributions
Lui Che Woo is widely recognized for his philanthropic efforts. His contributions have had a significant impact on various institutions and causes. In 1999, he provided funds for the Stanford University Medical Centre to establish the Lui Che Woo Research Laboratory, showcasing his commitment to medical research and advancement.
In the field of education, Lui has made substantial donations to further academic exchanges and support outstanding students. He established the Lui Che Woo Awards for CUHK/Cornell Student Exchange Programme in Hospitality Management in 2002. In 2012, he made a donation to the Chinese University of Hong Kong for the establishment of the Lui Che Woo Institute of Innovative Medicine.
Lui’s philanthropy also extends to supporting medical research students. In 2015, he pledged to donate HK$15.6 million to the Chinese University of Hong Kong to establish the Lui Che Woo Distinguished Young Scholars Award and the Lui Che Woo Distinguished Young Scholars Research Scholarship. These initiatives aim to support outstanding medical research students in furthering their studies overseas.
Woo’s Notable Achievements And Recognition
Lui Che Woo’s contributions and achievements have been widely acknowledged. In recognition of his support for education and worthwhile causes, he has been conferred with several honorary degrees. He received the degree of Doctor of Laws, Honoris Causa from the University of Victoria in 2001, Doctor of Social Science, Honoris Causa from the Chinese University of Hong Kong in 2002, and an honorary University Fellowship from the University of Hong Kong.
In 2004, Lui was awarded the degree of Honorary Doctor of Laws by Concordia University, and in 2005, he received the degree of Doctor of Business Administration, Honoris Causa from the Hong Kong Polytechnic University. In 2016, he was honored with the degree of Doctor of Social Sciences, Honoris Causa from the University of Hong Kong.
Lui has also received prestigious honors and awards. In 1982, he was made a Member of the Order of the British Empire (MBE) by Queen Elizabeth and was appointed as a justice of the peace (JP) in 1986. In 2005, he was awarded the Gold Bauhinia Star (GBS) for his contributions to the development of Hong Kong. In 2012, Lui received the Grand Bauhinia Medal from the HKSAR Government for his significant contribution to Hong Kong.
Lui Che Woo’s Net Worth
Lui Che Woo has amassed a significant fortune throughout his successful career. As of September 2023, Lui’s estimated net worth stands at an impressive $13.6 billion. This substantial wealth places him among the wealthiest individuals in Hong Kong and further solidifies his status as a prominent business magnate.
