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More money than Hermes, what is the origin of this family

More money than Hermes, what is the origin of this family

Who says women get old after 40?

Li Bingbing's recent state is not too good, frequently rushing to the hot search.

A blockbuster shot for Givenchy, a black dress with metal accessories, elegant and avant-garde, with its own aura.

More money than Hermes, what is the origin of this family

As the spokesperson of Chow Tai Fook Jewelry, she has transformed into a flower fairy, gentle with a touch of charm.

Xiaohua Xiaosheng's fans will advocate the endorsement resources of artists, and the more international they are, the more worthy of showing off; in fact, the top domestic brand jewelry endorsements have far more gold content than those sub-line "ambassadors" who are vain heads, such as Chow Tai Fook endorsed by Li Bingbing.

It was not only selected as the world's tenth largest luxury goods company, but also surpassed Hermès in the previous year's revenue.

More money than Hermes, what is the origin of this family

(In Deloitte Consulting's 2021 Luxury Global Power Report, Hong Kong's Chow Tai Fook Jewellery Group, with a total sales of approximately RMB45.862 billion, ranked among the world's top 10 luxury goods companies, becoming the only group in China to make the list.)

Chow Tai Fook's style is very much in line with a common saying: muffled voice does not make a fortune.

From a small gold store to surpass Hermès, Chow Tai Fook, who is 93 years old this year, has not only not been eliminated by the trend of the times, but also become the world's largest pure jeweler with a market value.

The descendants of the Zhou family, including the brother who has been dragged with the stars, and some people have become celebrities in the city who have been praised by each other with Gambi and Li Jiaxin, and their influence in the business and fashion circles is very large.

More money than Hermes, what is the origin of this family

For example, Cheng Chi-kong, who holds the title of "Chow Tai Fook Fourth Generation", held a "domestic version of the Met Gala" at K11 Musea, next to Rosewood Hong Kong, at the end of last year.

The guests who came to participate were basically in the mode of "the old money family is all out".

More money than Hermes, what is the origin of this family

Hong Kong's richest woman Gambi, Xu Jinheng Li Jiaxin and his wife, "100 billion yuan" Cao Yinghui... The city's celebrities were all present, and the formation was not lost to the same K11 event held in Paris at the same time.

More money than Hermes, what is the origin of this family

That night, Zheng Zhigang's wife, Yu Yahao, also wore a pink Criano dress and appeared with him.

She is now the president of Chow Tai Fook Education Group and, like her husband, is a member of the "Chow Tai Fook Empire".

More money than Hermes, what is the origin of this family

The story of this True Pearlescent Treasure Family is no less exciting than that of the Gambling King Family and the Liu Luanxiong Family.

From son-in-law to the top rich man in Xiangjiang

The luxury industry around the world, from jewelry and luxury cars to bags and fashion brands, is mostly a "family-owned business".

The emergence and inheritance of Chow Tai Fook is very special.

Founder Zhou Zhiyuan, when he was young, he was very brainy, relying on speculation in gold and silver currency to earn the first bucket of gold in his life.

With the original funds, in 1929 he opened the first gold shop on Hongde Road in Guangzhou, mainly engaged in gold jewelry.

More money than Hermes, what is the origin of this family

Because of his surname Zhou, he also wanted to draw a good color head of "Dafu Dagui" and merge the two, and the name of "Chow Tai Fook" came from this way.

Because of the war, Chow and his family moved from Guangzhou to Macau and reopened Chow Tai Fook's Golden Shop on Caodui Street in the old business district.

More money than Hermes, what is the origin of this family

In a turbulent society, the status of paper money is far inferior to that of real money. Zhou Zhiyuan also made a fortune through a large number of customers exchanging currency for gold, but he still wanted to do a good job in the jewelry business of his gold bank.

What makes "Chow Tai Fook" bigger and stronger is the "door-to-door son-in-law" chosen by Zhou Zhiyuan himself.

When Zhou Zhiyuan was in Guangzhou, he had a friend of the same age, Zheng Jingyi. The two had a good friendship and worked in a satin villa.

Their wives became pregnant almost at the same time, and they set up doll kisses. Just a man and a woman, Zheng Yutong and Zhou Cuiying.

More money than Hermes, what is the origin of this family

After finishing primary school in Guangzhou, Zheng Yutong dropped out of school to go to Macau and worked at Chow Tai Fook's gold shop, sweeping floors, moving goods, and doing chores. Coming together in the morning and finishing work at eleven or twelve o'clock in the evening was his daily routine.

Just like Guo Qilin's "Son-in-law", Zheng Yutong's intelligence and ability made the old man Zhou Zhiyuan very satisfied, and in less than 3 years, he was promoted by Zhou Zhiyuan to the management of Jinpu.

Coupled with the favor of his daughter Zhou Cuiying, the two married at the age of 18 in the Zhou family.

More money than Hermes, what is the origin of this family

It is said that Zhou Zhiyuan has 10 children, and several children are also outstanding, and the second son, Zhou Shutang, founded the ETCOM Jewelry Group.

More money than Hermes, what is the origin of this family

Zhou Zhiyuan eventually handed over the family business to his son-in-law and cultivated it as a successor, which was very far-sighted.

Zheng Yutong took over these more than 40 years, and Chow Tai Fook ushered in a big outbreak.

Since the 1960s, Zheng Yutong has directly bought diamond mines in South Africa, with two commercial lines of gold and diamonds running parallel, and the upstream and downstream are in his hands.

This has become a case for most jewelry brands in China today to learn.

The Chow Tai Fook chain, which opened from Macau to the mainland, has more than 2,300 stores around the world, with annual revenues of tens of billions and billions of profits.

In 2011, after Chow Tai Fook was listed, the market value reached more than 100 billion yuan, and the Zheng Yutong family accounted for more than 70% of Chow Tai Fook's shares.

More money than Hermes, what is the origin of this family

As one of the four richest people in Hong Kong, Zheng Yutong's nickname is "Shark Bile Tong".

He was bold in business, seizing the downturn in Hong Kong real estate several times and buying at low prices, and his New World became one of the four major real estate developers in Hong Kong.

In the old bank, Zheng Yutong pioneered and launched the "four nine gold", that is, the full gold content of 999.9 ‰ that we now recognize, which has opened a precedent in the industry.

More money than Hermes, what is the origin of this family

In the chaotic market at that time, forging enough gold was both time-consuming and cost-making. But Zheng Yutong is honest, put in hundreds of thousands of costs, and do his own work signboard.

Later, in the Hong Kong pawnshop, other brands of gold 270-280 yuan per gram, Chow Tai Fook was 300 yuan, each family competed to pick up the goods, Chow Tai Fook's business began to improve.

In 1984, the Hong Kong government also used this as a benchmark to legislate for gold products, stipulating the "four articles and nine golds" as the standard for the color content of sufficient gold jewelry.

Although he has become a rich Chinese, Zheng Yutong has always maintained a simple style. Wearing an old suit and travel shoes, it is his perennial outfit.

In 2016, Zheng Yutong passed away at the age of 91. At the funeral, Li Ka-shing, Leung Chun-ying and others helped him.

Pursuing Kwong Meiyun, the second son of the Zheng family who split his legs and fell in love with Lan Jieying

Wahaha "eldest princess" Zong Fuli said: "My father (Zong Qinghou) often said at home that he was rich for no more than three generations, mainly the second generation lost."

Many brands go from cooking oil to rivers and rivers, and the turning point is often in the second generation of the upper and lower generations.

More money than Hermes, what is the origin of this family

"Uncle Tong" Zheng Yutong set "jewelry king", "real estate tycoon" and "hotel giant" in one, the career map is leafy, and there is a sense of cultivating successors very early.

Zheng Yutong and his wife Zhou Cuiying have two sons and two daughters, the eldest son Zheng Jiachun and the second son Zheng Jiacheng, who are naturally regarded as "family heirs".

More money than Hermes, what is the origin of this family

His older brother, Cheng Ka Chun, known as a "pure official" by Hong Kong residents, was born in 1946 and was 5 years older than Cheng Yu-tong's old friend Liu Luanxiong. (The brothers later had a bizarre intersection because of a woman)

According to the standard model of "second generation", Zheng Jiachun went abroad to study and obtained a literature knowledge + MBA from the University of Western Ontario in Canada.

The family's cultivation time for him was also long enough.

In 1978, the first phase of New World in Tsim Sha Tsui was completed, and Cheng Ka Chun was launched to take charge of the Group's hotel business.

More money than Hermes, what is the origin of this family
More money than Hermes, what is the origin of this family

In 1989, Zheng Yutong planned to retire to enjoy life and travel the world. The eldest son, Cheng Ka Chun, 43, was pushed to the front of the stage and took over the family business , Chow Tai Fook and New World.

At that time, Hong Kong's property market was sluggish and the economy was stagnant, but as soon as Cheng Jiachun came to power, he went on a wild acquisition spree, resulting in a debt of 7 billion yuan for New World.

The old man had no choice but to go out of the mountains in 1991 to clean up the mess and retire two years later.

In 1996, the Hong Kong property market was at a high level, and New World received dividends, with a market value of more than 120 billion yuan.

But a year later, the Asian financial storm struck, the new world because of a large number of infrastructure and telecommunications business, the return of funds is slow, once again trapped by debt, and it is Uncle Tong out of the mountains to stabilize the overall situation.

The old man retreated without rest, and came out twice to save the city; the grand duke rose and fell twice, and his personal ability was not enough to steer this huge family, so he abdicated again.

This retirement is almost 20 years.

More money than Hermes, what is the origin of this family

During this long period of retirement, he did not make much achievements in business, and his personal life was too rich.

Zheng Jiachun and the original wife Ye Meiqing look respectful, but the pure official still made a scandal of dog blood catching horses in middle age.

More money than Hermes, what is the origin of this family

Zheng Yutong has a personal relationship with Liu Luanxiong, and Uncle Tong loves to play cards, Liu Luanxiong and Emperor boss Yang Shoucheng are his card partners.

Da Liu waved goodbye to Cai Shaofen, Li Jiaxin, Hong Xin... After these female stars, the girlfriend who was regularly in contact was replaced by Wang Jieyu, the daughter of Justice Wang Jianqiu.

This Wang Yingyu, who was often taken by Da Liu to Uncle Tong's poker game, met the Zheng family father and son as soon as she came and went. Even if he quarreled with Liu Luanxiong, he had to move out of Uncle Tong to mediate.

Wang Yingyu opened her own law firm in the New World Building, covering most of the lawsuits in the New World, which is the intersection of business with the Zheng family.

More money than Hermes, what is the origin of this family

In life, Zheng Yutong is the elder who supports her, and Zheng Jiachun is her "nameless child father".

She gave birth to two children to Zheng Gongzi, and the Zheng family did not openly admit it, so the child had to take the surname of his mother and name Wang Zehong and Wang Zeran. It was not until Uncle Tong's death in 2016 that he appeared on the obituary board as a relative.

The eldest son is not angry, and the second son is also not enough in his career, and the gossip comes together.

Zheng Jiacheng's most famous gossip girlfriend was the film and television song star at that time - Kwong Meiyun.

More money than Hermes, what is the origin of this family

In the 1980s and 1990s, Hong Kong's entertainment industry & celebrity circles were mixed together, and female stars either married rich and powerful, or acted for a few years before retiring to become rich and idle.

In the beauty pageant sponsored by his father's company, Zheng Jiacheng took a look at Kwong Meiyun, who had just debuted, and the two immediately fell in love, and Zheng Yutong was also satisfied with Kwong Meiyun.

Lu Yu once asked Kwong Meiyun: Why didn't she marry directly at the peak? Kwong Meiyun replied: Girls still have to have a sense of crisis and be self-reliant.

More money than Hermes, what is the origin of this family

Kwong Meiyun and Zheng Jiacheng dragged on for four years, and as a result, the other party split his legs, and Kwong Meiyun chose to break up directly.

The object of Zheng Jiacheng's leg splitting is Lan Jieying of the "Beautiful Wutai Mountain".

More money than Hermes, what is the origin of this family

Lan Jieying is not strong in her career and is eager to get married and have a baby. The closest she was to the Hong Kong Island giants was during her relationship with Cheng Ka Shing.

During the secret paige between the two, Lan Jieying was given a 5.5 million Stanley mansion, and Zheng Jiacheng was Kwong Meiyun's legitimate boyfriend at that time.

More money than Hermes, what is the origin of this family

In the end, the two female stars became exs.

Although she did not become Uncle Tong's daughter-in-law, Kwong Meiyun became a forgotten friend with Zheng Yutong. Even if she has a hand with the Zheng family, she still maintains a good relationship with Zheng Yutong.

The Zheng family is a leader in the gold jewelry industry, and after Kwong Meiyun withdrew from the circle, he first went to study jewelry and got a license as a jewelry appraiser.

More money than Hermes, what is the origin of this family

In 2000, Kwong Meiyun spent 50 million yuan to open a personal jewelry store, and most of the jewelry in the store was designed by Kwong Meiyun herself.

More money than Hermes, what is the origin of this family

And almost all of her jewelry business sources are provided by Zheng Yutong.

The sons' business cells are seriously insufficient, and they accidentally achieved the jewelry business of "former daughter-in-law", which indirectly proved that Uncle Tong's sword is not old.

However, with regard to the choice of heir, it may be necessary to skip the sons directly and think of another one.

Play auction with Jay Chou and call Li Jiaxin to the party

The grandson Zheng Zhigang can be said to be the "savior" of the Zheng family. How his father almost lost the family property, Zheng Zhigang is how to "revitalize the family business".

More money than Hermes, what is the origin of this family

Zheng Zhigang integrated e-commerce into jewelry sales, and his revenue reached a new high, and his New World real estate market also began to spring.

In 2015, with a net worth of US$4.4 billion, Zheng Zhigang ranked second among asia's top 10 young richest people.

More money than Hermes, what is the origin of this family

However, Zheng Zhigang is very patient, first working in top investment banks such as Goldman Sachs and UBS for three years, and then "showing his skills" after consolidating his ability.

Including K11 Musea, who first asked his family for a sum of money as start-up capital, achieved profitability in the first year of its establishment, and tripled its turnover in the second year, becoming one of the most popular malls in Hong Kong.

After successfully testing the waters, he immediately "broke into" the mainland market and created K11 Musea in more than a dozen cities.

More money than Hermes, what is the origin of this family

Shanghai K11 has long become a city landmark, and has held popular exhibitions such as The Monet Painting Exhibition and PINK LOVE, attracting many young people to punch in.

Zheng Zhigang has a strong preference for culture in his bones, and studying in Japan is also a major in literature, which makes him look less like a complete businessman, but has a feeling.

Last June, Sotheby's "Contemporary Curated" auction series made its debut in Asia. Sotheby's partner is Zheng Zhigang.

This "JAY CHOU XSOTHEBY'S" contemporary art auction preview, Zheng Zhigang asked Jay Chou to act as curator.

More money than Hermes, what is the origin of this family

A total of 46 works were auctioned, all of which were successfully sold, with a turnover of HK$845.9 million, setting a new auction record for 7 artists.

Jay Chou himself loves art, he is also a collector, the two cooperate, even if it is a combination of pearls, it can also be seen that Zheng Zhigang usually has close contact with Jay Chou.

Zheng Zhigang's wife, Yu Yayi, graduated from Columbia University and is an executive director of Goldman Sachs Securities and Debt. Zheng Yutong was very satisfied with his granddaughter-in-law, and in 2009, he spent 140 million Hong Kong dollars to give Zheng Zhigang and Yu Yayi a high-profile wedding.

More money than Hermes, what is the origin of this family

He is completely different from his father and uncles, zero scandals after marriage, and his friends around him are all giants such as Huo Qigang and Liu Mingwei. (Liu Mingwei's story we just wrote, click on the blue word to review)

Zheng Zhigang's sister, Zheng Zhiwen, graduated from Harvard and now takes over the family's hotel business, the chief executive officer of Rosewood Hotels and Resorts, and was named one of the world's 40 under-40 business elites in 2018.

More money than Hermes, what is the origin of this family

Zheng Zhiwen's husband is Pang Jianyi, the grandson of the late "Iron King" Pang Dingyuan, and the two families can also be regarded as a marriage of giants.

Most of the founders of Hong Kong's business community have accumulated wealth through real estate, finance and other industries. The responsibility of the second and third generations is mainly to keep their jobs.

If you want to succeed in the business field, one look at the vision, the second look at the connections, like Uncle Tong's generation, is typical, several big guys together to become bigger and stronger.

More money than Hermes, what is the origin of this family

By the time Zheng Zhigang's generation arrived, it was already an emerging social media era, and the gameplay was different from the previous generation.

Commercially, in 2014's "Double Eleven", Chow Tai Fook Tmall flagship store in one minute, sales exceeded one million yuan, the 22nd minute exceeded ten million yuan, the outlet was very accurate.

Socially, in Zheng Zhigang's social circle, there are urban celebrities such as Li Jiaxin and Gambi, and there are also jay Chou, the king of pop music, everyone can take advantage of each other to attract the attention of all ages and all circles, which is good for each other.

More money than Hermes, what is the origin of this family
More money than Hermes, what is the origin of this family

There are several unwritten unspoken rules in the business world, such as family-owned enterprises not going to go far, such as being rich for three generations... Due to the lack of power of the "second generation", these spells were almost fulfilled in the Zheng family. While cultivating his sons, Zheng Yutong also began to consciously help his grandson to get on the horse, so that this business empire could realize the orderly inheritance of wealth.

For us ordinary people, what is more instructive is that Mr. Zheng worked in the shop and started from the grassroots; Zheng Zhigang spent a lot of time accumulating business experience before entering the family business.

Therefore, when the wings are not in full swing, you don't have to do a big vote to prove yourself. Willing to start from a low level and cultivate personal ability, in time, will surely get the reward of fate.

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