Cheng Yu-tung net worth & biography:
Cheng Yu-tung net worth: That net worth makes Cheng Yu-tung among the most affluent individuals in Hong Kong. Until just recently, he was the CEO of New World Development, a family-owned real estate development company. He started his professional career with a jewelry company called, Chow Tai Fook. Chow Tai Fook grew to become Chai Tai Fook Enterprises and grown into multiple business ventures, including functioning as the umbrella corporation for New World Development. Chow Tai Fook/New World Development now possess multiple properties in Hong Kong, Macau, and abroad, including five high end resorts. Most recently, the firm bought the Carlyle Hotel in Manhattan. The firm also runs the Sheraton Marina resorts. He declared his retirement in early 2012, and passed direction to his son.