Macau gambling king Stanley Ho, who built a business empire from scratch in the former Portuguese colony and became one of Asia’s richest men, died at the age of 98
FILE PHOTO: Macau tycoon Stanley Ho celebrates his 85th birthday during a ceremony, in which he donated HK$2.5 million to a charity, in Hong Kong November 20, 2006. REUTERS/Bobby Yip/File Photo
The flamboyant tycoon, who loved to dance but advised his nearest and dearest to shun gambling, headed one of the world’s most lucrative gaming businesses through his flagship firm, SJM Holdings Ltd, valued at about $6 billion. Born in Hong Kong, Ho had four wives and 17 known children, and was forced to restructure his business after a legal battle erupted within the family in 2012 over his fortune.His privately held company, Sociedade de Turismo e Diversões de Macau, or STDM, has stakes in everything from luxury hotels to helicopters and horse racing.
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