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Born in 1983 and just turned 40 this year, Guo Jihui is the third generation of the Guo family, whose wealth comes from the real estate industry, and the Guo family is known as the realistic version of Versailles. From the grandmothers' generation, they embarked on the road to prosperity. Three generations, passing on the family's wealth from generation to generation. As a successful businessman who has just turned 40, Kwok has enjoyed the wealth that his grandmother has accumulated since he was a child.
Now, Kwok's Sun Hung Kai Properties has become a giant in Hong Kong's real estate scene, and despite his vast wealth, he remains low-key and modest. Today, let's walk into the world of Guo Jihui's family, see how they made a fortune step by step, and appreciate the glory they created.
1. The richest woman today
As the leader of Hong Kong's largest real estate company, Kwong has always been known for his courage and intelligence. Her talents are not only impressive, but also the entire business community. Sun Hung Kai Properties' remarkable achievements, with a market capitalisation of HK$386.5 billion, are undoubtedly the result of her wisdom and decision-making.
And now, according to the data released by the Hurun Research Institute, Kuang Xiaoqing is firmly on the throne of China's richest woman with an astonishing wealth of 72 billion yuan. Recently, the 92-year-old Kwong Xiaoqing has attracted people's attention, this is the first time she has become the richest female entrepreneur in China, and her success story is even more remarkable.
Kwong's wealth comes mainly from Sun Hung Kai Properties' two buildings. These buildings are located in a bustling metropolis with a significant position and generate millions of monthly rental incomes. With his solid investment strategy and business vision, Kwong has made Sun Hung Kai Properties a major player in China's real estate industry.
Although Kwong Xiaoqing is not well known to the general public, she is a very influential presence within the family. She is the wife of Kwok Tak-shing and the mother of former Sun Hung Kai Properties Chairman Kwok Ping-sheung, current Chairman Kwok Ping-kong and Kwok Ping-lian. In the family, Kuang Xiaoqing has always played an important role and is one of the souls of the family. Many things are decided by her, and her three sons have a deep respect for her.
Kwong was Kwok's early right-hand man, and together they founded Sun Hung Kai Properties Limited, which is a huge influence in Hong Kong's business community. Kwok Tak-shing is the head of the Kwok family, one of the four major families of the older generation in Hong Kong, who entered the real estate industry after running groceries wholesale in his early years. Kwong Xiaoqing played an important role in the establishment and growth of the company, helping Guo Desheng to make many key decisions. Sun Hung Kai Properties Limited has thus become a leader in Hong Kong's real estate market and has achieved great commercial success.
In 1990, the sudden death of Hong Kong business magnate Kwok Tak-shing caused a shock in the industry. After his death, the three Guo brothers jointly took over the company in charge of Guo Desheng and began to manage the company's affairs together. In order to ensure the stability and smooth operation of the company, Guo Desheng designed a unique management system during his lifetime, known as the "three-point system". Under this system, the three brothers held the positions of Chairman and Chief Executive Officer, Managing Director and Managing Director, respectively, in order to perform their respective duties while being able to work together.
Under this system, the eldest is the chairman and chief executive officer, responsible for overall strategic planning and decision-making, while the second and third are the managing directors respectively, responsible for the management and day-to-day operations of their respective departments. Through this division of labor and cooperation, the three brothers achieved relative equality of status and power. SHKP is actively expanding into a number of profitable sectors, including telecommunications, transportation, internet and infrastructure. This has allowed Sun Hung Kai Properties' performance to increase by 12 times, with a market capitalization of more than $300 billion in ten years.
Among them, projects such as Hong Kong's Central Plaza, International Finance Centre, Four Seasons Place, International Commerce Centre and Victoria Harbour Porch are all part of Kwok's assets. During this period, the Kwok family ranked second on the list of the richest people in Hong Kong, behind the Li Ka-shing family. Remarkably, at one point in 1992, Sun Hung Kai Properties' market value even surpassed that of Li Ka-shing's Cheung Kong Properties.
2. The Guo family's "bloody plot"
There are various differences in values and concepts within the Guo family, and they are also affected by the intervention of external forces. Although resources are not scarce, the problem lies in the uneven distribution of power. Originally, the balance of power between the three Guo brothers was in a relatively stable state, but later due to the gradual growth of the power of Guo Bingxiang's side, the balance was gradually lost, and then the Guo family staged a plot like a wealthy TV series.
In addition, in 1997, Guo Bingxiang was kidnapped by Zhang Ziqiang's men and extorted a huge amount of 2 billion. At that time, Guo Bingxiang's younger siblings and mother Kwong Xiaoqing decided to pay a ransom to save his eldest brother Guo Bingxiang, and asked him to quit the company's decision-making level to receive psychological treatment. The incident has sparked speculation that it was the result of a power struggle within the family, while others believe that it was due to his unstable mental state after being subjected to a major stimulus. In short, speculation continues.
This change caused the situation within the Guo family to begin to be unstable, and the intentions of each person began to diverge. In particular, Guo Bingxiang, who has attracted much attention in the lace news, which also led to him being stripped of his status as a beneficiary of the family trust fund by Mrs. Kwong, although he was later rejoined. The change in the Kwok family has sparked widespread public attention and once again highlighted the challenges faced by family businesses in terms of power succession and internal stability.
Subsequently, Guo Bingxiang had a series of problems in his past marriage, which brought a lot of trouble to the Guo family. Guo Bingxiang's first wife was Gu Zhirong, the daughter of Gu Xinji's boss Gu Linqing. Their marriage ended in less than half a year because Guo Bingxiang met Li Tianying while studying in the UK.
The relationship between Guo Bingxiang and Li Tianying gradually stabilized, and although Guo Lao and his wife were not satisfied with this, they had to accept Li Tianying into the family. Li Tianying and Guo Bingxiang also have two sons and a daughter. But Guo Bingxiang did not stop looking for love. He met his childhood sweetheart Tang Jinxin again and abandoned Li Tianying. Surprisingly, Li Tianying and Tang Jinxin turned out to be best friends, which made the situation even more complicated.
Due to Guo Bingxiang's behavior, he and his family were in a predicament and could not return home, so they could only temporarily live in Tang Jinxin's home. In addition, he tried to get Tang Jinxin on the board of directors of Sun Hung Kai Properties, which caused Kwong Xiaoqing to be angry. Kwong once again demonstrated his ability to control power, excluding Kwok's name from the family fund and regaining the leadership of Sun Hung Kai Properties, even taking his eldest son, Kwok Bingxiang's position in the company.
Less than two years later, the turmoil broke out again. Kwong Xiaoqing re-established the family trust fund and decided to re-add Guo Bingxiang's name. Recently. After a series of setbacks, the former business wizard finally announced his retirement due to health problems and passed away on March 4, 2018.
3. The new successor, Guo Jihui
Now, SHKP's future development falls to Kwok Kei Fai, the third generation of the Kwok family. Kwok was sent to the United States in his early years to receive an education in preparation for the future inheritance of the family business. He has been working hard to learn and improve for this Xi, and has lived up to his father's expectations of him. Kwok has successfully taken over Sun Hung Kai Properties and become the leader of the real estate empire, and there are exciting expectations for how he will lead the company in the future.
In addition, Guo Jihui is also a highly praised academic elite. He was a magna laude student at Harvard University and earned an MBA. Since taking over SHKP, he has been steadily driving the company's growth. Compared with other rich second and third generations, Guo Jihui is more low-key and humble.
In recent years, Kwok has shown a steady leadership style, leading the company to steady progress and stand out from Hong Kong's many young billionaires. His pragmatic style has enabled the company to develop sustainably and steadily, and has achieved remarkable results. Kwok's success has been widely praised in the industry, and he is regarded as one of the outstanding representatives of Hong Kong's real estate industry with outstanding strength and potential.
Guo Jihui participated in the National Committee of the Chinese People's Political Consultative Conference (CPPCC) for the first time this year, and he submitted three proposals focusing on the high-quality development of the Guangdong-Hong Kong-Macao Greater Bay Area. In order to further facilitate Hong Kong people and enterprises to start businesses, buy homes and do business in the Mainland, Kwok suggested that the professional advantages of the Guangdong-Hong Kong Co-operation Advisory Committee in Nansha, Guangzhou should be better leveraged to promote land planning and development in mainland cities in the Greater Bay Area.
Despite the cooling of Hong Kong's real estate sales market in recent years, Sun Hung Kai Properties has achieved great success in the leasing market through years of accurate market insights and strategic planning. This seasoned helmsman has firmly grasped the well-being of Hong Kong's real estate market and has become a mainstay of the real estate industry. This performance is remarkable, as it not only proves SHKP's operational wisdom, but also accurately grasps the changes in Hong Kong's real estate market.
Sun Hung Kai's long-term leasing business is booming, with 105 units leased out in its first lease in July this year, and about 180 units in its second lease in September. In this highly competitive market, being able to stay profitable is already a valuable advantage. Xintiandi Real Estate has not only succeeded in making a profit, but has also earned a good income through its long-term rental business.
According to Sun Hung Kai Properties' semi-annual financial report, as of the end of June this year, the company's property leasing revenue in Hong Kong reached 15 billion yuan, an increase of 1.1% year-on-year, accounting for 21.1% of total revenue. SHKP's success is not only reflected in its financial figures, but also in its deep understanding of the market and its accurate prediction of the future.
In the highly competitive market of Hong Kong, Sun Hung Kai Properties has been able to stand tall not only because of its deep pockets, but also because of its sensitivity to market changes and its accurate grasp of future trends. Sun Hung Kai Properties' track record is the culmination of years of business acumen from the Kwok family.
From Guo Desheng to Guo Jihui, each generation has written the glory of the family in its own way. They have been solid and steady, laying a solid foundation for Sun Hung Kai Properties' continued development. This robust business strategy has made Sun Hung Kai Properties a leading company in Hong Kong's real estate industry, making a significant contribution to Hong Kong's economic prosperity.
Going forward, the key will be whether Kwok Kei-fai, the third-generation successor of the Kwok family, can work together with the company to continue to lead Sun Hung Kai Properties' steady development beyond 100 years. They will face enormous challenges, but also enormous opportunities. Only by working closely together can we continue to write a brilliant chapter for Sun Hung Kai Properties.
summary
As the successor of the new generation, Guo Jihui will take on the important task of leading the family to a more brilliant future, which has become the focus of attention from the outside world. In the Guo family, we see not only the inheritance of wealth, but also the inheritance of wisdom and responsibility. In this family, each generation interprets the essence of true wealth and life in its own way.
In the days to come, the Guo family will continue to use wisdom and courage to write their own legend. They will continue to be committed to the development of the family, adhere to a steady business style, and adapt to the changes of the times. Through innovation and adaptability, the Guo family is poised to achieve even greater achievements in this era of opportunities and challenges.