You might wonder, "Are people who build houses rich?" Well, it depends. Here are a few of them. The first is that real estate has many tax advantages. Improvements to land lose value over time, which lets investors keep more of their profits. This allows them to pay fewer taxes and simultaneously build up equity in their rental properties. Also, real estate agents are often treated like clients.
Henderson Land Development Co. Ltd. is a real estate company that builds new buildings, holds investments, and does other business. Its portfolio has office buildings, homes, serviced apartments, and retail stores. Finance, project and property management, cleaning, and gas distribution are other things a business does. The company is run in both Hong Kong and China. Its founders are known for being good at business and making money for themselves and their investors.
You're not the only one who wants to know if Hong Kong's Lee Shau-Kee is rich. A whole generation of Lee Shau-Kee family members is rich because of what they've done with their money. The first moved from mainland China to Hong Kong and started a company that built office and retail space. The company now has Hong Kong Ferry and China Gas shares, and the Lee family has given more than $400 million to education.
Lee Shau-Kee, a developer in Hong Kong, is the most well-known of these people. He is thought to be worth about $20,4 billion. Lee Shau-Kee moved to Hong Kong when he was a child. He was born in Guangdong. He has worked in the real estate business for more than 40 years and is currently the second richest person in Hong Kong after Lee Shau-Kee.
Lee Shau Kee is a rich person in the real estate business in Hong Kong. He owns 72% of Henderson Land Development, a public company. He also holds a small amount of Sun Hung Kai Properties and 23 per cent of Sunlight Real Estate Investment Trust. Because he owns shares in these companies, he can control how they grow by making purchases. Forbes says that he is worth about $24.8 billion as a person.
One of the wealthiest persons in the world is billionaire real estate developer Donald Bren. He has built a business empire that includes 120 million square feet of property in Southern California, most of which is office space. Donald Bren owns hotels, golf courses, 125 apartment complexes, 500 office buildings, and many shopping centres. It is thought that he has a net worth of $16 billion. Bren is a great philanthropist because of how much he gives to charity; many of his donations have been more than $1 billion. In addition to his real estate business, Donald Bren is a big fan of environmental causes and has spent much time helping ecological groups and causes.
Born in Los Angeles in 1932, Donald Bren grew up in Beverly Hills, California. When he was young, his parents split up, but they later got back together. His mother was a successful businesswoman who worked in President Ronald Reagan's kitchen cabinet. Both Bren and Peter went to public schools but didn't have much money. They often helped the carpenters on the rental properties that his father owned.
A few weeks ago, Yang Huiyan, a Shanghai developer, said he would sell shares to raise $343 million. In a filing with the government, the developer said that the money would be used to pay off existing offshore debt, general working capital, and future development. Even though the real estate market has had a rough few months, the company has remained in business.
Yang Huiyan was born in Shunde, China, and has been building homes since the early 1990s. He owns most of Country Garden Holdings, Asia's largest real estate company. His father started the company, which he took over in 2005. He is now the Vice-Chair of the company's governance committee. In 2014, Yang sold new shares that brought in $410 million.
Roy Donahue Peebles Jr. was born in Washington, D.C., in 1960. He grew up with real estate all around him because his mother was a business owner. Peebles was the first black person to serve as chairman on one of Washington's most prominent real estate boards. He kept building his real estate empire. Eventually, he bought commercial buildings and development sites in Washington, D.C., and became the city's best fundraiser. Then he moved his business to Miami and built the Royal Palm Hotel and The Residences at the Bath Club.
Peebles is now one of the wealthiest and most influential people in the D.C. real estate market. He has been a member of the Congressional Black Caucus Foundation's board of directors since 2013. He was elected chair of the CBCF board in July 2015 and re-elected in February 2017. In February 2018, he will step down from the CBCF board.
The Reubens have been in the high-end retail business for a long time. The brothers spent $170 million on a historic building in Union Square. The hotel is set to open in 2023. The building will have 97 guest rooms, 32 suites, five signature suites, and 12 luxury apartments. Martin Brudnizki will be in charge of the interiors. Rich people who build and sell homes are not just brothers.
David and Simon Reuben are brothers who have made a lot of money on their own. Forbes says that their wealth is worth about $14.4 billion. Both brothers were born in India. When they were teenagers, they moved to London. When they were young adults, they bought and sold scrap metal in London. Then, David Reuben started bringing in carpets. They also traded aluminium in Russia, which most Western companies didn't invest in because they thought it was too risky.