Geoffrey Kwok Net Worth, Age, Family & Biography $2.4 B Real Time Net Worth #303 in the world today

Avan Parvadiya — Tue, 16 May 2023 04:47:50 +0000

About Geoffrey Kwok

Empire Group’s director is Hong Kong billionaire Geoffrey Kwok. He is Walter Kwok’s eldest son and the Empire Group’s founder. Sun Hung Kai Properties, Asia’s largest real estate developer, was founded by Walter Kwok and his brothers by his grandfather, Kwok Tak-seng. He joined the publicly traded company’s board of directors in December 2018, two months after Walter Kwok, his father, passed away. Additionally, he serves as one of Empire Group Holdings’ directors.

Geoffrey Kwok

Geoffrey Kwok Career

Geoffrey Kwok is a billionaire born in 1984 or 1985, in Hong Kong. After the Second World War, Grandfather Kwok Tak-seng, a grocery wholesaler from Guangdong, China, immigrated to Hong Kong. In 1963, he founded Sun Hung Kai Properties with Lee Shau Kee and Fung King Hey. In an initial public offering in Hong Kong in August 1972, the company sold shares and became one of the world’s largest real estate developers in terms of market value.

Walter took a long leave of absence as a result of a family dispute, which resulted in his resignation as chairman in 2008. Walter denied that Thomas and Raymond had removed him from his position because they believed he had a mental illness. According to the Hong Kong Standard newspaper, Walter was compelled to take leave of absence due to a disagreement with his brothers regarding the growing influence of a female friend in the company. He later filed a libel suit against his siblings.

Thomas and Raymond joined Sun Hung Kai as co-chairmen after their mother Kwong Sui-hing took over as chairman. In 2008, Walter applied to the High Court to stop the board from firing him. He claimed that his brothers were against him questioning the way the company awarded construction contracts and other corporate governance issues. Walter and the family resolved their question agreeably in January 2014.

Geoffrey Kwok Facts

Through trusts established by Kwong Siu-hing, the developer’s widow, Kwok Tak-seng’s heirs control 26% of the company. According to a company email statement from January 2014, her three sons received equal shares of her net worth.

According to November 2022 filings with the Hong Kong exchange, Kwok holds 14% of the company through an individual trust, a second trust established by his grandmother, and a third trust associated with his brother and cousins.