Chao Sze-Tsung Cecil was born in 1936 in Hong Kong and is a businessman and a real estate tycoon who, as Cecil Chao, is widely recognized as the founder as well as the owner of Cheuk Nang Holdings Ltd. However, he is most famous for his 2012 international offer worth $65 million, promised to any man who manages to woo and marry his (apparently) lesbian daughter, Gigi.
Have you ever wondered how much wealth this Asian magnate has accumulated so far? How rich Cecil Chao is? According to sources, it is estimated that the total of Cecil Chao’s net worth, as of mid-2017, revolves around the sum of $2 billion, acquired through his successful entrepreneurial career which has been active for several decades now.
Cecil Chao Net Worth $2 billion
Cecil grew up in Hong Kong but was educated overseas, in Europe and USA. He attended the University of Durham in Durham, England, from which he graduated with a Bachelor of Architecture degree. Later, he enrolled at Morrsion University in Reno, Nevada, from which he earned his Doctorate in Architecture. Upon graduation, Cecil began his career working in architectural design studios, but over the years expanded his area of expertise to real estate properties, finance and investment business. All these involvements eventually provided a huge part of Cecil Chao’s incredible net worth.
Cecil Chao’s rise began in 1988, when he acquired the Far East Wool & Fibre Mill, Ltd company and founded Cheuk Nang Holdings Ltd., which in the course of the next decade became established as one of the world’s leading electronic and electrical manufacturers. Apart from serving as company’s executive chairman since its beginnings in the late 1980s, Cecil Chao has also been serving as Hong Kong Real Estate Developers’ Association chairman, the beneficial owner of Szehope Securities Company Ltd. and the chairman of Yan Yin Company Ltd. Some previous Chao engagements include being a member of Hong Kong Government Building Department and Architectural Office as well as being a former independent, non-executive director of ENM Holdings Ltd. It is certain that all these successful business involvements have helped Cecil Chao to add a significant sum to the total of his wealth.
Widely known for his flamboyant lifestyle and playboy’s manners, Cecil Chao came to great international prominence in 2012 when he announced a $40-million dowry offer to any man who managed to convince his daughter to marry him. Although his daughter Gigi is a declared lesbian, and has already been married to her partner of nine years, Cecil was unyielding and in 2014 he increased his offer to $80 million and then again to an incredible $130 million. Although around 20,000 men applied, Gigi remained true to herself and her partner. Eventually, Cecil dismissed his offer as they “agreed to disagree” but announced that he will never accept Gigi’s partner into his family. Despite all of these, Cecil and Gigi’s bond is going strong and is still close-knitted as he named her as an heir to his business empire.
Apart from all those already mentioned above, Cecil Chao was honored with World Outstanding Chinese for the year 2004. Under his leadership, Cheuk Nang Holdings expanded their interests to property development and real estate investments, and currently operates in several Asian countries, including Malaysia, China and Macau, still providing a massive boost to Cecil Chao’s net worth.
When it comes to his personal life, Cecil Chao has never married despite the fact that, as he claims, he has slept with more than 10,000 women. From his previous relations, he has welcomed three children, all daughters.
