Kwong Siu-hing

Kwong Siu-hing
Born	Kwong Siu-hing (鄺肖卿) 2 12, 1929
Birthplace	Hua County, Guangdong, China
Nationality	Chinese (Hong Kong)
Occupation	Company director
Known for	Matriarch of the Kwok family; controlling shareholder of Sun Hung Kai Properties
Spouse(s)	Kwok Tak-seng (deceased 1990)
Children	3

Kwong Siu-hing (Template:Zh; born 2 December 1929), also referred to as Kwok Kwong Siu-hing, is a Hong Kong businesswoman and the matriarch of the Kwok family, one of the most prominent property dynasties in Asia. As the widow of Sun Hung Kai Properties co-founder Kwok Tak-seng, who died in 1990, Kwong assumed a central role in the governance and ownership structure of the company, which ranks as the largest property developer in Hong Kong by market capitalisation. Through a family trust, she effectively controls approximately 41.53% of Sun Hung Kai Properties' shares, making her the single largest shareholder of the conglomerate. Kwong served as chairperson of Sun Hung Kai Properties from 2008 to 2011, stepping in during a period of internal family conflict. In 2023, at the age of 94, she was identified as the richest woman in China. As of February 2026, her net worth has been estimated at US$19.4 billion.

Early Life

Kwong Siu-hing was born on 2 December 1929 in Hua County (now Huadu District), Guangdong Province, China. Details about her early childhood and family background in Guangdong remain limited in publicly available records. Like many families in southern China during the turbulent mid-twentieth century, Kwong's life was shaped by the political and economic upheavals that swept the region, including the Chinese Civil War and the subsequent establishment of the People's Republic of China in 1949.

Kwong married Kwok Tak-seng, an entrepreneur from Guangdong who would go on to become one of Hong Kong's most consequential property developers. Kwok Tak-seng, together with business partners Lee Shau-kee and Fung King-hey, co-founded Sun Hung Kai Properties in 1963, building it into a dominant force in Hong Kong's real estate market. The couple had three sons: Walter Kwok (Kwok Ping-sheung), Thomas Kwok (Kwok Ping-kwong), and Raymond Kwok (Kwok Ping-luen), all of whom would later assume leadership roles within the family's business empire.

The Kwok family became one of the so-called "big four" tycoon families of Hong Kong, alongside the families of Li Ka-shing, Lee Shau-kee, and the Cheng family, collectively dominating the territory's property market for decades.

When Kwok Tak-seng died in 1990, Kwong Siu-hing inherited a significant stake in Sun Hung Kai Properties and became the central figure in the family trust that controlled the company. While she did not immediately take on a formal executive role, her position as the custodian of the family's controlling interest gave her substantial influence over the direction of the conglomerate.

Career

Role in Sun Hung Kai Properties

Sun Hung Kai Properties (SHKP), founded in 1963 by Kwok Tak-seng and his partners, grew to become the largest property developer in Hong Kong, with a diversified portfolio spanning residential, commercial, and infrastructure projects across the territory and mainland China. Following her husband's death in 1990, the company's day-to-day management was entrusted to their three sons. Walter Kwok, as the eldest, served as chairman, while Thomas and Raymond Kwok held senior executive positions.

Kwong Siu-hing's formal involvement in the company's governance remained limited for nearly two decades after her husband's death. However, as the controller of the family trust holding approximately 41.53% of SHKP shares, she remained the ultimate arbiter of the family's corporate interests. Her influence was described by the Hong Kong Economic Times as carrying considerable weight within the organisation.

Kwok Family Dispute and Chairmanship (2008–2011)

The most significant moment in Kwong Siu-hing's corporate career came in 2008, when a bitter internal dispute erupted among the three Kwok brothers over control of Sun Hung Kai Properties. The conflict centred on Walter Kwok, the eldest son and chairman, whose leadership was challenged by his younger brothers Thomas and Raymond.

In May 2008, Sun Hung Kai Properties announced that Kwong Siu-hing would replace Walter Kwok as chairperson of the company. The move was widely reported as an attempt to resolve the fraternal power struggle, with Kwong stepping in as a neutral authority figure. At the time, she was 78 years old and had no prior experience serving as the formal head of a publicly listed company.

Walter Kwok contested his removal, and the dispute played out in public through legal proceedings and media coverage. The Wall Street Journal reported on the family tensions surrounding the governance of one of Asia's largest property companies. The South China Morning Post described the episode as a departure from the traditional ways in which Hong Kong's great business families had managed succession and internal disagreements.

During her tenure as chairperson from 2008 to 2011, Kwong Siu-hing oversaw a period in which the company continued to operate as one of the dominant forces in Hong Kong property. Thomas and Raymond Kwok assumed joint managing director roles under her chairmanship. Kwong eventually stepped down from the chairmanship in 2011, though she retained her position as a non-executive director and continued to control the family trust.

Post-Chairmanship Influence

After relinquishing the chairmanship, Kwong Siu-hing remained the controlling force behind SHKP through the family trust. Her role as the holder of the family's controlling stake meant that major decisions about the company's direction continued to require her assent or acquiescence, even as her sons managed day-to-day operations.

The Kwok family faced further turbulence in 2012 when Thomas Kwok was arrested and subsequently charged in connection with a bribery case involving former Hong Kong Chief Secretary Rafael Hui. Thomas Kwok was convicted in December 2014 and sentenced to five years in prison. Raymond Kwok, who was also arrested, was acquitted of all charges. These events placed additional strain on the family's corporate governance arrangements and further underscored Kwong's role as the ultimate holder of the family's economic interests.

Walter Kwok, the eldest son who had been removed from the chairmanship in 2008, died on 20 October 2018 at the age of 68. In the same year, reports emerged regarding a settlement of a property dispute involving Kwok Ping-sheung (Walter Kwok's estate) valued at approximately HK$42 billion, with Kwong's involvement noted as part of the family's resolution process.

Family Wealth and SHKP's Continued Dominance

Under the Kwok family's stewardship, Sun Hung Kai Properties maintained its position as Hong Kong's largest property developer. The company's portfolio includes major developments such as the International Commerce Centre, one of the tallest buildings in Hong Kong, as well as extensive residential and commercial properties across Hong Kong and mainland China.

The Kwok family fortune, controlled through Kwong Siu-hing's trust, has consistently ranked among the largest in Asia. Forbes has tracked the family's wealth over multiple decades, with the combined Kwok family wealth placing them among the top billionaire families globally.

Personal Life

Kwong Siu-hing married Kwok Tak-seng, with whom she had three sons: Walter Kwok (1950–2018), Thomas Kwok (born 1951), and Raymond Kwok (born 1952). The marriage lasted until Kwok Tak-seng's death in 1990.

Kwong has maintained a relatively private life, rarely appearing in public or granting media interviews. Her public appearances have typically been limited to family events and company-related occasions. A photograph from July 2008 showed Kwong at a public event flanked by Timothy Fok and her son Thomas Kwok.

In December 2019, the three Kwok brothers were reported to have gathered for a rare family occasion to celebrate Kwong's birthday, an event that was noted in Hong Kong media as a sign of reconciliation among the siblings following years of public and legal disputes. The birthday reunion occurred following Walter Kwok's death in October 2018 and the settlement of the family property dispute earlier that same year.

Kwong has been based in Hong Kong throughout her adult life. She has not been publicly associated with philanthropic organisations or charitable foundations in her own name, although Sun Hung Kai Properties operates its own corporate social responsibility programmes.

Recognition

Kwong Siu-hing's prominence derives primarily from her position as the controlling shareholder of Sun Hung Kai Properties and her status within one of Hong Kong's most prominent business families. She has been the subject of numerous wealth rankings and profiles in international business media.

In 2022, Tatler Asia named Kwong as Hong Kong's richest woman, describing her as "the single most important figure in the Kwok family."

In November 2023, at the age of 94, Kwong was reported to have become the richest woman in China for the first time, according to wealth rankings compiled by Chinese media and international financial publications.

In May 2020, the South China Morning Post profiled Kwong in an article examining the wealthiest women in Asia, noting her position among the top female billionaires in the region.

As of 2025, Kwong was listed among the five richest women in real estate globally, according to Forbes' billionaire list, which reported a combined net worth of US$39.1 billion for the top five women in the sector.

The 2026 Forbes Hong Kong's 50 Richest list continued to feature the Kwok family's wealth, with Kwong listed as the principal holder of the family fortune through the SHKP trust. Her estimated net worth of US$19.4 billion placed her among the top billionaires in Hong Kong.

Legacy

Kwong Siu-hing's significance in Hong Kong's business history rests on her role as the custodian and controller of one of the territory's largest family fortunes and corporate empires. As the matriarch of the Kwok family, she has exercised de facto control over Sun Hung Kai Properties for more than three decades since her husband's death in 1990, navigating the company through periods of family conflict, legal crises, and shifting economic conditions.

Her assumption of the SHKP chairmanship in 2008, at the age of 78, was an unusual event in Hong Kong corporate history. It demonstrated the extent to which family trust structures in Hong Kong's property empires concentrated power in the hands of family patriarchs and matriarchs, even when those individuals had not previously held formal executive positions. The episode drew attention to broader questions about corporate governance, succession planning, and the role of family trusts in publicly listed companies in Hong Kong and across Asia.

The Kwok family's internal disputes and subsequent legal troubles — including Thomas Kwok's bribery conviction and Walter Kwok's contested removal — became some of the most closely watched corporate dramas in Hong Kong during the 2000s and 2010s. Throughout these events, Kwong remained the anchor of the family's controlling interest, and her decisions regarding the trust and company governance proved consequential for one of Asia's most valuable property companies.

As one of the wealthiest women in Asia and the world, Kwong's position has also drawn attention to the role of women in Hong Kong's business elite, a sphere historically dominated by male patriarchs. While her wealth derives primarily from inheritance and family trust control rather than entrepreneurial activity, her sustained influence over a major publicly listed company across multiple decades distinguishes her within Hong Kong's business landscape.

As of 2026, at the age of 96, Kwong Siu-hing remains the controlling shareholder of Sun Hung Kai Properties through the family trust, and the Kwok family continues to rank among the wealthiest families in Hong Kong and Asia.