Sir Michael David Kadoorie is a prominent Hong Kong billionaire businessman who has made significant contributions to the corporate world and philanthropy. As the chairman and 18% owner of CLP Group, Hong Kong’s largest electricity producer, and with a 47% ownership stake in Hongkong and Shanghai Hotels, Kadoorie’s influence in the business sector is undeniable. Born into a family with a rich history of business success, he has continued to expand and diversify the family businesses while also pursuing his own entrepreneurial ventures. Beyond his professional achievements, Kadoorie is known for his passion for classic cars, interest in photography, and commitment to renewable energy.
Early Life And Family Background
Sir Michael David Kadoorie was born in 1941 to Lawrence Kadoorie, a prominent business tycoon, and Muriel Gubbay. He hails from a Jewish family and has deep roots in the business world of the Far East. His grandfather, a descendant of Iraqi Jews who settled in Shanghai in 1880, made a fortune in the city before eventually moving to Hong Kong.
Education And International Exposure
Kadoorie received his early education at Kowloon Junior School in Hong Kong. He later went on to study at the prestigious Institut Le Rosey in Switzerland. This international exposure during his formative years would shape his global perspective and prepare him for his future endeavors in the business world.
Family Businesses And Diversification
The Kadoorie family has a long history of business success, with their flagship company, CLP Holdings Ltd., being founded in 1890. Sir Michael Kadoorie currently serves as the chairman of CLP Holdings, in which the family still holds a significant 35% stake. CLP Group is Hong Kong’s largest electricity producer, supplying power to 75% of the region. The company also has equity interests in power plants across China, Southeast Asia, Australia, and India.
In addition to his role at CLP Holdings, Kadoorie is also the chairman of Hong Kong and Shanghai Hotels, a second-largest listed group owned by the family. Hong Kong and Shanghai Hotels operate the renowned Peninsula Hotel Group, known for its luxury properties around the world.
Entrepreneurial Ventures And Initiatives
Apart from his involvement in the family businesses, Sir Michael Kadoorie has also ventured into other entrepreneurial endeavors. He is the founder and owner of Metrojet Ltd, a leading business aviation company, and Heliservices (HK) Ltd, a helicopter services provider. Kadoorie’s interest in renewable energy development led him to initiate the CLP Research Institute, a subsidiary of CLP Holdings that focuses on sustainable energy solutions.
Contributions And Recognition
Kadoorie’s contributions to business and philanthropy have earned him numerous accolades and honors. He is a trustee of the Kadoorie Charitable Foundation and has been recognized internationally for his achievements. The government of France awarded him the Legion of Honour, while Belgium honored him with the Order of Léopold II. In 2005, he was knighted as a Knight Bachelor in the Queen’s Birthday Honours List. The University of Hong Kong also awarded him an honorary doctorate in 2004.
Passions And Interests: Car Collection And Personal Life
Beyond his professional pursuits, Sir Michael Kadoorie has a keen interest in photography and is an avid helicopter pilot. He is also known for his passion for classic cars. His collection includes rare automobiles such as a Bugatti Type 57, a Rolls-Royce Phantom II, a Hispano-Suiza J12 Vanvooren Cabriolet, a Lamborghini Miura, and more. However, his love for vintage cars did lead to an unfortunate accident in 1998, resulting in serious injuries.
Kadoorie was married to Betty Tamayo, a Cuban-American, and they resided in Hong Kong together until her passing in June 2021. The couple had three children: Natalie, Bettina, and Philip. His sister, Rita Laura Kadoorie, is married to Ronald McAulay, another prominent Hong Kong billionaire.
What Is Michael Kadoorie’s Net Worth?
Michael Kadoorie is a business executive and philanthropist who has a net worth of $6.1 billion. Michael Kadoorie serves as the Chairman of CLP Holdings Ltd., founded in 1890 by his family who still hold a 35% stake. The power firm CLP provides electricity to 75% of Hong Kong as the sole operator in Kowloon and the New Territories. Additionally, CLP holds equity interests in power plants in China, Southeast Asia, Australia, and India.
