Passing away of China's casino magnate triggers heated web discussion over his family fortune division

Source:Global Times Published: 2020/5/26 23:23:41

Hong Kong-Macao entrepreneur Stanley Ho Hung-sun Photo: VCG



A discussion heated up on China's social media platforms over how the gigantic family fortune of Stanley Ho Hung-sun, China's casino magnate, will be divided among his wives and children after the gaming mogul passed away on Tuesday.

The 98-year-old is not only a business legend who has led the rise of Macao into the world's gambling capital, but is also well known in China for his colorful personal life.

Ho has fathered 17 children (11 daughters and six sons) with four women. Some of his children also became well-known in Chinafor marrying celebrity models or famous business tycoons.

When alive, Ho was one of Asia's richest men for decades whose personal fortune was reportedly estimated at HK$50 billion ($6.45 billion) when he retired in 2018.

The death of Ho has triggered a heated debate on China's Twitter-like SinaWeibo over how his wives and children will fight for the fortune that Ho left behind.

"I have the sense that another bloodshed is coming...will it be a drama if such a large family with entangled relationships are fighting for Ho's fortune?" one netizen said on SinaWeibo.

Another netizen said that Ho should have already arranged for the division of most of his fortune among family members, but his second and fourth wife should scramble for the fortune that has not been divided yet.

There is also a picture circulating on Sino Weibo that illustrates Ho's family structure, showing the images and ages of his wives and children.

According to a report of the Hong Kong Economic Times, Ho's family members on Tuesday held a press conference in the Hong Kong Sanatorium & Hospital where Ho passed away. Ho's daughter Pansy Ho Chiu-king said that Ho's family members agreed that they would jointly handle Ho's funeral.

But some netizens said that more attention should be given to Ho's contribution to China instead of his personal affairs.

According to media reports, Ho's name appears on 12 museums, hospitals and sports centers in Hong Kong and Macao after he gave away a large amount of fortune in philanthropy. He also bought two bronze animal heads, which werelooted from the Summer Palaceby invading forces, and returned them to the Chinese mainland.



Posted in: ECONOMY

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