Adrien Cheng, precursor of a new era in Hong Kong
It all started one day in August, back in his hometown of Hong Kong after a stay in Seoul. Adrian Cheng, at the age of 42, was already on his way to Singapore the next morning. A life that suits a billionaire entrepreneur who influences the whole of Asia through his investments in real estate, philanthropy, technology and also culture. M Cheng is a man of great confidence and leadership. All these qualities that M Cheng displays are in his blood, or rather in his ADN.
History of Cheng Enterprises
In fact Adrian Cheng comes from a very large Hong Kong real estate empire. The Cheng family by Adrian Cheng is ranked third by Forbes Asia among the richest in Hong Kong. This family has a combined net worth of $26.6 billion in 2022. The success of this family has its roots in the first Chow Tai Fook store opened in Hong Kong by the late Cheng Yu-tung in 1946. Adrian Cheng's grandfather Cheng Yu-tung transformed this store into a large retail industry. I also established New World Development in 1970 which later became the largest property development company in Hong Kong. In 2012, Henry Cheng son of Yu-Tung took over the reins of Cheng Family Enterprises before he too handed over to Adrian Cheng in 2020.
Cheng Enterprises Today
Currently, the Cheng family's best-known investments include the K11 Group and Rosewood, a hotel group run by Adrian Cheng's sister, Sonia Cheng. Adrian, who envisioned himself a tenor in his youth, studied humanities at Harvard. Adrian, 36, created the high-end chain in 2009 to attract a new clientele, the small or big red bourgeois. But Cheng wants more than to teach Mao's children how to consume modern, he wants to open his people to art. For the Cheng family, beyond success, philanthropy is the most important thing. This has been demonstrated during the COVID-19 period by their involvement in issues related to mental health, sustainability, the arts, housing and climate change.