Hong Kong tycoon Lee Shau-kee hands out HK$15 million for birth of seventh grandchild
Henderson Land chairman Lee Shau-kee is celebrating the birth of his seventh grandchild - and plans to give away HK$15 million in lai see money to his staff and friends.
The boy, Lee Jianzi, was born recently to Lee's younger son Martin Lee Ka-shing and daughter-in-law Cathy Tsui Chi-kei. The baby, who is the second son and fourth child for the couple, was named by Lee Shau-kee.
Martin Lee and Tsui said in a statement, released through Henderson yesterday, that the Lee family was excited about its new addition.
"Elder sisters Leanna and Hayley and brother Triston are very excited about the addition of a little brother," they said.
As part of the celebration for the newborn, Lee Shau-kee will give away HK$10,000 in cash to each of his 1,500 staff and friends, according to a Henderson Land spokeswoman.
This will cost the patriarch at least HK$15 million in cash.
The spokeswoman added that this was the fifth time Lee had given away lai see for a major family occasion.
Three other times he doled out cash for the birth of a grandchild, and for Martin's wedding as well. With this payout, his lai see giveaways over the past nine years will total HK$60 million.
"Uncle Four is extremely happy about the newborn grandson," said the spokeswoman, referring to the elder Lee's family nickname.
The baby is the seventh grandchild between his two sons, Peter Lee Ka-kit and Martin.