Cheng Yu-tung Net Worth

He is the founder and chairman of New World Development, a real estate and infrastructure conglomerate. Cheng Yu-tung is an Asian businessman with a net worth of $14.5 billion, making him one of the wealthiest people in Hong Kong. He was born in Shunde, Guangdong, Republic of China and is now based in Hong Kong. He is the founder and chairman of New World Development, a real estate and infrastructure conglomerate.
Cheng Yu-tung is a member of Richest Billionaires

Age, Biography and Wiki

Birth Day August 26, 1925
Age 98 YEARS OLD
Birth Sign Virgo
Net Worth: $14.5 Billion
Gender: Male

💰 Net worth: $14.5 Billion (2024)

Cheng Yu-tung is a highly influential figure in the business world, and his net worth is expected to reach a staggering $14.5 billion by 2024. Born in 1925, Yu-tung holds the distinction of being one of the richest billionaires globally. His wealth has been amassed through his extensive involvement in various industries, such as real estate, retail, and hospitality. Cheng is renowned for his strategic investments and impeccable business acumen, which have propelled him to such extraordinary financial heights. His remarkable success story serves as an inspiration to aspiring entrepreneurs worldwide.

Some Cheng Yu-tung images

Until just recently, he was the CEO of New World Development, a family-owned real estate development firm. He began his professional career with a jewelry business called, Chow Tai Fook. Chow Tai Fook grew to become Chai Tai Fook Enterprises and expanded into multiple business ventures, including serving as the umbrella corporation for New World Development. Chow Tai Fook/New World Development now own multiple properties in Hong Kong, Macau, and abroad, including five high-end hotels. Most recently, the company purchased the Carlyle Hotel in Manhattan. The company also runs the Sheraton Marina hotels. In addition to his work with Chow Tai Fook, he also serves as honorary consul for Bhutan, and on the board of Hong Kong's third largest bank, Hang Seng. He announced his retirement in early 2012, and passed leadership to his son.