Friday, January 8, 2010

Stanley Ho- Gambling & Property Magnate

Stanley Ho (born 25 November 1921), also known as Ho Hung-sun, Stanley Ho Hung-sun, is an entrepreneur in Hong Kong and Macau. Ho is sometimes nicknamed "The King of Gambling", reflecting the government-granted monopoly he held of the Macau gambling industry for 40 years. He is also nick-named as "Gambling King".

Ho is the wealthiest person in Macau, and amongst the wealthiest in Asia. According to Forbes, he tied for 701st rank among the world's richest people in 2009, with an estimated net worth of $1.0 Billion USD[1]. He owns many properties in both Hong Kong and Macau and has taken part in many kinds of business including entertainment,tourism, shipping, real estate, banking, and air transport.

In early life, he was born in Hong Kong, into the Ho Tung family, one of the most well-known, powerful and influential clans in Hong Kong at the time. Their eldest son was Ho Tung (Sir Robert Hotung) and the next was Ho Fook , Stanley Ho's grandfather. Ho Sai Kwong, one of Ho Fook's sons, had 13 children. Stanley Ho is the 9th child.

Although his family was very wealthy, he started his business on his own. When he was 13 years old, his father lost vast sum of money in the stock market crash and went bankrupt. Consequently, Ho's two elder brothers committed suicide, and his father abandoned the family, leaving him with his two elder sisters and his mother.

Once he went to see a dentist who was a relative of Ho's. The dentist knew he had no money and said something that embarrassed him. He ran home and cried. He swore to his mother: "I must become a successful man. Let those relatives who only talk about money know, I will earn a lot of money in ten years."

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