Businessman Gives Away $2 Million In Honor Of Grandson

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Photo courtesy of Wikimedia

Lee Shau-kee, chairman of Henderson Land Development and one of the richest men in Hong Kong, intends to give away HK$15 million (nearly $2 million) in lai see money to his staff and friends as means of commemorating the birth of his newborn grandchild.

The grandson was named by Lee Shau-kee himself as Lee Jianzi and is his seventh grandchild between his two sons, Martin Lee Ka-shing and Peter Lee Ka-kit. The baby was recently born to the younger of the two brothers, Martin, and his wife, Cathy Tsui Chi-kei. Lee Jianzi is the couple’s second son and fourth child.

According to a statement from the couple, the Lee family was very excited about its new addition.

They said, “Elder sisters Leanna and Hayley, and brother Triston, are very excited about the addition of a little brother.”

As part of the celebration for his newborn grandson, Lee Shau-kee will be giving away HK$10,000 ($1,290) in cash to each of his 1,500 staff and friends, as stated by a Henderson Land Development spokeswoman. This generosity will cost Lee Shau-kee at least HK$15 million in cash.

This is not the first time Lee Shau-kee has given out lai see for a major family occasion. He previously pulled out cash for the birth of three other grandchildren, as well as for Martin’s wedding as well. With this payout, his lai see giveaways amount to HK$60 million (almost $8 million) in total over the past nine years.

“Uncle Four is extremely happy about the newborn grandson,” the spokeswoman added, referring to Lee Shau-kee’s family nickname.

Translated as ‘good luck,’ lai see are envelopes, usually in red and gold (as these colors are considered prosperous), that contain money typically given from a senior to a junior. While traditions following lai see may vary, it is usually handed out during the Chinese New Year.

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Regina is a Fine Arts graduate who expresses herself through various mediums. She finds amusement in pop culture, enjoys video games, and watches way too many YouTube videos on a daily basis.