Joseph Lau: The Billionaire Collector and Controversial Tycoon

Joseph Lau Luen-hung is a name that resonates across the business, real estate, and art worlds. A Hong Kong billionaire with an extraordinary life story, Lau has gained both fame and notoriety for his business ventures, high-profile personal life, and passion for art collecting. Known as much for his massive fortune as for the controversies that have surrounded him, Lau’s journey is a compelling portrait of wealth, influence, and complexity.

Born in Hong Kong on July 21, 1951, Joseph Lau grew up in a family involved in business. He studied at the University of Waterloo in Canada, majoring in civil engineering. However, his career path led him not into engineering, but into the high-stakes world of business and real estate. Lau took over the family business, which was initially focused on manufacturing, and strategically shifted it toward property development—a move that would define his empire.

Lau became a major shareholder and chairman of Chinese Estates Holdings, a leading real estate development company based in Hong Kong. Under his leadership, the company expanded its holdings in commercial and residential real estate across prime areas of Hong Kong. His ability to predict market trends and invest strategically helped him build one of the most formidable real estate portfolios in the region.

Joseph Lau’s success brought immense wealth. He is consistently ranked among the richest individuals in Hong Kong and Asia. His fortune has allowed him to indulge in his passion for art collecting. Lau is known globally for assembling one of the world’s most valuable private art collections. His taste spans from traditional Chinese ink paintings to Western masters like Warhol and Picasso. In fact, he made headlines in 2015 when he bought a 12.03-carat blue diamond at auction for $48.4 million, naming it “Blue Moon of Josephine” after his daughter. A day earlier, he had bought another diamond and named it “Sweet Josephine,” further showcasing his extravagant devotion to his children and his vast wealth.

His children, Josephine and Zoe, have played a significant role in shaping the public perception of his legacy. Lau has fathered children with multiple women and has made no secret of his personal life. In 2016, he married his longtime partner and mother of two of his children, Kimbie Chan, in a private ceremony after he was diagnosed with a serious illness. Despite his health issues, Lau has remained a central figure in both business and society.

However, Joseph Lau’s life has not been without controversy. In 2014, he was convicted in absentia in Macau on charges of bribery and money laundering in connection with a land deal. Sentenced to over five years in prison, Lau has avoided incarceration by remaining in Hong Kong, which does not have an extradition agreement with Macau. The conviction led to his resignation as chairman and CEO of Chinese Estates, with his son and other family members taking on more prominent roles in the business. Still, many observers believe Lau continues to influence the company’s strategic decisions behind the scenes.

Despite these legal troubles, his philanthropic work has added another layer to his public image. Lau has donated generously to educational, medical, and cultural causes throughout Hong Kong. His support for local hospitals and universities is well-documented, and his efforts have earned him recognition in some circles as a philanthropist, although this reputation is often overshadowed by his legal issues and opulent lifestyle.

In recent years, Lau has been living a more private life, focusing on his health and his family. The management of his empire has largely shifted to his wife and children, especially as he battles chronic illness. While he no longer holds formal positions within Chinese Estates, he remains a powerful figure due to his majority ownership and longstanding influence.

Lau’s story is a study in contradictions. He is a man of vast wealth and refined taste, yet also someone whose actions have drawn sharp criticism. His investments have shaped the skyline of Hong Kong, while his art purchases have shaken the international auction scene. He is devoted to his family and has made grand gestures for his children, but his legal troubles have cast a shadow over his legacy.

For many, Joseph Lau epitomizes the complexities of modern wealth in Asia: a mixture of vision, ambition, controversy, and opulence. His name carries weight not just in the business pages, but also in the worlds of art, fashion, and society. Whether one views him as a visionary tycoon or a cautionary tale, there is no denying that Joseph Lau has left an indelible mark on Hong Kong and beyond. His life continues to captivate, provoke, and inspire conversation—perhaps the true legacy of a man who has lived entirely on his own terms.