Stanley Ho

Early Life and Background

Stanley Ho Hung-sun was born on November 25, 1921, in Hong Kong, into the illustrious and exceedingly wealthy Hotung family, one of the four most prominent and influential families of the then-British colony. He was the ninth of thirteen children born to Ho Kwong, and a grand-nephew of Sir Robert Hotung, the patriarch of the clan and one of Hong Kong's wealthiest men at the turn of the 20th century. Ho's early life was marked by privilege and affluence, befitting his family's esteemed status. However, the onset of the Great Depression in the 1930s brought about a significant downturn in his family's fortunes. His father, Ho Kwong, was a director of the Tung Wah Group of Hospitals and a prominent businessman, but he lost most of his wealth during the economic crisis, eventually abandoning his family and moving to Vietnam. This drastic change in circumstances profoundly impacted young Stanley, who transitioned from a life of comfort to one of relative hardship, fostering a strong sense of determination and a drive for self-reliance.

Education

Stanley Ho received his primary and secondary education in Hong Kong. He attended Queen's College, a prestigious government secondary school known for its academic excellence. Initially, Ho was not a diligent student and faced expulsion due to poor academic performance. However, he was later readmitted and, under renewed focus, excelled, eventually graduating with top marks. His academic prowess earned him a scholarship to the University of Hong Kong, where he enrolled to study science. His university studies, however, were abruptly interrupted by the outbreak of World War II and the Japanese occupation of Hong Kong in December 1941. This forced him to leave his studies prematurely and flee to Macau, which remained a neutral Portuguese territory during the war, thus ending his formal education.

Career

Ho's career began in Macau during World War II, a period that proved pivotal for his early fortunes. In 1942, at the age of 21, he secured a position at the Japanese import-export firm, China Defence Supplies, which traded across the Pearl River Delta. Leveraging his language skills (English, Cantonese, and Portuguese) and his astute business acumen, Ho quickly rose through the ranks. He reportedly made his first million Hong Kong dollars by engaging in the lucrative, albeit often perilous, business of smuggling luxury goods and essential commodities across the blockaded Chinese coast during the war. This experience honed his entrepreneurial skills and risk tolerance.

After the war, Ho returned to Hong Kong briefly before re-establishing himself in Macau. He ventured into various businesses, initially in kerosene and later in construction, establishing a successful construction company. However, his most significant career breakthrough came in 1961. Stanley Ho, alongside his business partners Henry Fok, Teddy Yip, and Y.C. Cheng, formed the consortium Sociedade de Turismo e Diversões de Macau (STDM). This group successfully bid for and secured the sole concession to operate all gambling activities in Macau, breaking a 24-year monopoly held by the Tai Heng Company. This marked the beginning of Ho's unparalleled dominance over Macau's gambling industry. Under STDM, Ho rapidly expanded the gambling empire, introducing Western-style casinos, modernizing existing facilities, and significantly improving the transportation links between Hong Kong and Macau, notably through high-speed ferry services. He also diversified STDM's interests into hotels, real estate, air transport, and banking, creating a vertically integrated tourism and entertainment conglomerate. His flagship company, Shun Tak Holdings, listed on the Hong Kong Stock Exchange in 1972, further solidified his business empire. Although Macau's gambling monopoly officially ended in 2002 with the liberalization of the market, allowing international operators to enter, STDM, through its subsidiary SJM Holdings, remained a dominant force, controlling a substantial portion of the market.

Major Achievements

Stanley Ho's most significant achievement was undoubtedly his transformation of Macau from a sleepy colonial outpost into the 'Las Vegas of the East' and the world's largest gambling hub. His strategic vision and relentless investment in infrastructure, including the Macau International Airport (which STDM was a major investor in), ferry terminals, and numerous hotels and resorts, laid the groundwork for Macau's economic boom. Beyond his business acumen, Ho was a notable philanthropist, donating vast sums to educational institutions, hospitals, arts and cultural organizations, and sports initiatives, particularly in mainland China, Hong Kong, and Macau. He was also a prominent figure in political circles, serving as a member of various advisory bodies for both the Chinese and Macau governments, including the Standing Committee of the Chinese People's Political Consultative Conference. His contributions to the economic development of the Pearl River Delta region earned him numerous accolades and honors from governments and institutions worldwide.

Personal Life

Stanley Ho's personal life was as complex and public as his business dealings. He was known to have four wives, a practice that was legally permissible under the Qing dynasty code still recognized in Hong Kong until 1971, allowing for concubinage. His first wife was Clementina Leitão, a Portuguese woman from a prominent Macau family, whom he married in 1942. His second wife was Lucina Laam King-ying, whom he married in the late 1950s. Later, he took Ina Chan Un-chan as his 'third wife' in the 1980s, followed by Angela Leong On-kei as his 'fourth wife' in the late 1980s. Together, he fathered a total of 17 children across his four families, leading to a sprawling and often complicated family dynamic. In his later years, particularly after a fall in 2009 that left him in poor health, public disputes over his vast fortune and the succession of his business empire frequently made headlines. These legal battles and family rivalries played out in the public eye, highlighting the immense wealth and power at stake within the Ho dynasty.

Legacy

Stanley Ho passed away on May 26, 2020, at the age of 98, leaving behind an unparalleled legacy. He is widely regarded as the architect of modern Macau's economy, having single-handedly shaped its destiny for over four decades. His business empire, particularly STDM and Shun Tak Holdings, continues to be a formidable force in the region's economy, with his children and various family members now leading different facets of the conglomerate. His philanthropic efforts have had a lasting impact on numerous charitable causes, particularly in education and cultural heritage, including the return of several priceless Chinese artifacts to the mainland. Despite controversies surrounding the source of some of his early wealth and the competitive nature of his business, his vision, resilience, and strategic genius are undeniable. His life story is a testament to an extraordinary entrepreneurial spirit that capitalized on unique historical circumstances to build one of Asia's most significant fortunes and influence an entire city's development. His complicated family structure and the subsequent power struggles for control of his empire also form a significant part of his enduring public narrative and legacy, demonstrating the intricate challenges of succession in a vast family business.