Lee Shau Kee, Hong Kong’s second richest billionaire, once shared in his biography that extreme wealth had brought him many troubles.
Lee, who passed away on Monday at age 97, said in his biography published years ago that being rich is generally a good thing, according to Hong Kong-based magazine Ming Pao Weekly.
"Poverty is truly worrisome and difficult. Imagine not having enough food, no warm clothes, and not knowing when you should sleep. How could you feel comfortable? How could you achieve your goals? On top of that, occasional illness is like having a leaking roof on a rainy night, truly miserable," he said.
However, he noted that simply being rich is different from having extreme wealth, which comes with many pitfalls.
The tycoon said he often received letters from around the world seeking donations for various causes.
"After reading these letters, I feel very uneasy because I feel bad if I do not help them. But if I want to help, I do not know whether they are genuine or not," he said, remarking that countless people worldwide need help. "The more suffering I witness, the more ashamed I feel.
He added: "Moreover, once you become a billionaire, you inevitably become a public figure and live in a goldfish bowl, and you lose many opportunities for freedom and independence.
"Furthermore, once you have a lot of money, circumstances will force you to work tirelessly to protect your wealth. It is not that you 'use' money, but rather that money 'uses' you. Enduring physical exhaustion and endless mental anxiety is not a pleasant feeling."
He claimed: "Those who are neither poor nor rich are the luckiest and can truly enjoy themselves."
Lee is known for his extensive philanthropic legacy, with a focus on education.
He was nicknamed "Uncle Four" as he was born in 1928 as the fourth child in a merchant family from southern China’s Guangdong province, as reported by Forbes.
At age six, he began helping with his father’s business, which dealt in gold, silver, and currency exchange. Skilled in mental arithmetic from a young age, he had learned gold inspection, smelting, and refining by 12.
At 20, he left for Hong Kong with HK$1,000 (US$128) he had saved from years of working in the family business.
Within less than a year, he had earned enough money to send back home to support his family and ventured into the hardware industry and import-export trade.
In the 1950s and 1960s, Lee recognized the potential for growth in the real estate sector, so he partnered with a few friends to found Sun Hung Kai Properties.
As its vice chairman and managing director, he was responsible for site planning, land acquisition, and property sales. He also collaborated with banks to introduce installment payment options, making homeownership more accessible to the public.
He later left the firm in 1973 and established his flagship company, Henderson Land Development, in 1976.
Lee was the richest person in Asia in 1996 and 1997 and the fourth wealthiest in the world in 1996. He was also known by other nicknames such as "Asia’s god of stocks" and "Hong Kong’s Warren Buffett."
He is survived by two sons, Peter and Martin Lee, who now jointly run his Henderson empire, and three daughters.
According to Forbes' February rankings, Lee was the second-richest person in Hong Kong. His net worth was estimated at US$30 billion before his death.
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