Stanley Ho- Net Worth, Money and More
Net Worth :$2 billion
Stanley ho was born on 25 November 1921 in British Hong kong. His birth name is Ho Hung Sun.He has also been nicknamed as “The King of Gambling”.He also held Macau gambling industry for 40 years and in 2011 was named as the 13th richest man in Hong Kong with his net income of US$2 billion.He is not only limited to gambling but is active in many kinds of business includes entertainment,tourism,shipping etc and currently holds number of important positions in Hong Kong and Macau.Ho also occupies almost one fourth of the work force of Macau.His business spreads across the globe including countries like mainland China,Portugal, North Korea, Vietnam and East Timor .Ho is a born industrialist and entrepreneur in Asia.Ho has also achieved excellence in dancing,his favorite hobby and has also given several dance performances in numerous charity fundraisers. With his own sister Winnie Ho, he has been involved in litigation for the past few years, concerning the ownership of the Macau casino. Following that, he suffered from a stroke in july 2009 and was followed by a long period of recovery.
Early life
When Ho was just 13 years old, his family was bankrupted due to the crash in the stock market. So then he decided that his studies could only take out his family from this disaster. Ho attended the Queens’s College in Hong Kong. Ho also won a scholarship at the University of Hong Kong and with that became the first student who was awarded a scholarship. But with the outbreak of World War II, he was not able to study more. He settled in Macau in 1942.Ho married his first wife in the year 1942 and following that he married three other women subsequently and has now 17 children born to four women.
Career
At the age of 22 only, with his talent and command over four languages, he became a partner of the firm and within a short period won the trust of his employers. He began his work at the import –export firm in Macau. He made his first money through smuggling goods during World War II across the Chinese border from Macau.Ho soon established a Kerosene company in the year 1943 with his money made during the World War II. He soon started bidding for Macau franchises with his own brother-in-law the late Teddy Yip, the renowned Hong Kong tycoon the late Henry Fok and famous Macau gambler the late Yip Hon. By their high bidding, they won the public tender for Macau’s gaming monopoly at a cost of approximately US$410,000 by defeating the Fu family, longtime Macau casino barons. In the year 1961,Ho set up Shun Tak Holdings Ltd, which was soon listed on the Hong Kong Stock Exchange. He also owns TurboJet, one of the world’s largest fleets of high speed jetfoils. Soon in the year 1989, he became chairman and also chief executive officer of the Macau Jockey Club. He also became the first living resident of Macau to have a local street named after him. Moreover he also launched the website DrHo888.com,an online casino with Vancouver-based eyeball.com. SLOT, Asia’s first football and basketball lottery was also launched by Ho.
During the period 1999-2002,Ho was said to be involved in ‘several illegal activities’ and also was linked to a Chinese mafia named Kung Lok Triad.
Awards and achievements
He has won many awards throughout his life and has great achievements in his pocket. Stanley Ho was awarded an honorary doctorate of social sciences from the University of Macau in the year 1984.Further,Ho was also appointed as Officer of the Order of the British Empire for his immence services to Hong Kong.Not only this, the Portuguese government appointed Ho to the Gra-cruz da Ordem do Infante Dom Henrique, highest honor for any civilian.
For his outstanding contribution to the community, Ho received the Gold Bauhinia Star from the Chief Executive of Hong Kong, Tung Chee Hwa. Not only this, Ho also received the medal from the city of Cascias for Business Entrepreneurialism. Moreover, Stanley Ho also became the first living Chinese citizen, whom after a street was named which was running adjacent to the Estoril Casino and was named as Avenida Stanley Ho. Recently in the year 2008, Ho was awarded at the G2E Asia conference which was organised by the American Gaming Association. For his highly significant contribution to the well being of Hong Kong, he was awarded the Grand Bauhinia Medal, one of the highest Hong Kong honours. Ho also donated a Qig dynasty bronze sculpture of a horse’s head originally taken from the Old Summer Place to the Chinese government on 21 September 2007.
Richness
Stanley Ho is one of the rich personality across the globe. His net worth is US$2 billion. He is a multi-billionaire and his main source of wealth is by gambling. For over the 40 years he held the Macau gambling industry in his hands and is famously renowned as “The King of Gambling”. His business is not only limited to gambling, he has a large hand in the community development of Hong Kong. For his lifelong contribution the community of Macau and Hong Kong, he was awarded many honorary and lifetime awards. He also became the first living citizen, whom after a street was named.
