Cheng Yu-tung was bornon 26 August 1925 in Hong Kong. At the time of his death, Cheng Yu-tung controlled one of Hong Kong's largest conglomerates including Asia's largest jewelry retailer Chow Tai Foo and real estate firm New World, both run by his son Henry. Cheng fled China in a boat during World War II and got his start in Macau as a clerk in the jewelry store. Cheng eventually married the store owner's daughter and helped him build Hong Kong's biggest jewelry chain. He moved into real estate in 1952. He appeared on Forbes' first ever international rankings of billionaires in 1987.
Cheng spent the last four years of his life in bed after suffering a brain haemorrhage in 2012 and undergoing a major operation
He founded and owned Chow Tai Fook Enterprises, a conglomerate which operates the Sheraton Marina hotel and controls the publicly listed property developer New World group, which Cheng founded in 1970
Shortly before his death, Forbes listed him 58th wealthiest in the world and 3rd in Hong Kong with US$16
He had four children, the eldest of whom, Henry Cheng, born 1946, is chairman of New World Development and related businesses
Cheng was born in rural Shunde District in Guangdong, the son of a tailor, and fled to Macau in 1940, ahead of the advancing Japanese occupation force
6 billion, and was at one time listed by Bloomberg as high as 34th
Cheng Yu-tung GBM (simplified Chinese: 郑裕彤; traditional Chinese: 鄭裕彤; pinyin: Zhèng Yùtóng; Sidney Lau: Jeng Yue Tung; 8 August 1925 – 29 September 2016) was a Hong Kong billionaire with extensive property investment, development and service businesses, hotels, infrastructure, jewellery retailing and transportation interests in Hong Kong, Macau, United States, Australia and elsewhere