From minibuses to world’s most expensive tower: how Hong Kong tycoon Ma Ah Muk made and kept a fortune
Having made his fortune running the city’s biggest minibus company, the 87-year-old billionaire has turned his attention to commercial property
Hong Kong’s “King of the Minibus”, billionaire Ma Ah Muk, has a simple strategy for success in business: he is constantly on the lookout for “exciting” investment opportunities that will deliver long-term returns.
It’s a tactic that has served the 87-year-old magnate well. “I have never lost any money in any investment,” says Ma, who runs the city’s dominant minibus fleet.
A group of investors that included Ma paid a record HK$40.2 billion (US$5.12 billion) for The Center, in what may have been the world’s most expensive real estate transaction.
Ma holds a 27.37 per cent stake in the 73-storey tower. He claims he made the decision to get on board in a matter of minutes, based on the simple logic that there is plenty of room for rents to increase in such an iconic building in the city’s vibrant financial district.