Hong Kong-based family with diversified interests across a portfolio of companies, including their flagship businesses, Chow Tai Fook Jewellery Group and New World Development.
Cheng Yu-tung began his career as a clerk in a Macau jewellery store. After marrying the owner’s daughter, he eventually built Hong Kong’s biggest jewellery chain. In 1952, Cheng moved into real estate, establishing what would become Hong Kong’s largest developer. At the time of his death in 2016, Cheng’s net worth was estimated at $14.5 billion.
Cheng Yu-tung’s son, Henry Cheng, serves as chairman of Chow Tai Fook Jewellery and New World Development, in addition to seven other family holdings and the family’s investment portfolio. Henry’s brother, Peter Cheng, oversees the family’s mainland China property interests. As of 2017, Henry Cheng’s son, Adrian Cheng, is executive vice-chairman and general manager of New World Development. Adrian’s sister, Sonia Cheng, serves as CEO of the Rosewood Hotel Group, which was acquired by the family in 2011. Nine other family members are involved in the family’s network of companies. Henry Cheng and his family’s estimated net worth is over $20 billion.
