By | 22 Jan 2023 at 2:29 AM
Stephen Hung Biography

Stephen Hung Biography: Stephen Hung is the founder and chairman of Louis XIII Holdings, a Macau and Las Vegas luxury hotel and casino company. Additionally, he is a major investor in MGM China and Sands China. Since the 1990s, he has been involved in the entertainment industry, creating various films and television programmes.

He has created a name for himself in recent years as an investor in luxury real estate, particularly in Asia. He is known for being a shrewd and astute investor and a generous philanthropist. This article will investigate the career, net worth, and investments of Stephen Hung.

Stephen Hung Net Worth

Stephen Hung A millionaire businessman’s net worth The net worth of Stephen Hung is $400 million. Stephen Hung received his education at both Columbia and USC. He was employed in the finance sector for Merrill Lynch Asia. He amassed his fortune through investment banking and real estate development. He has two daughters with his wife, model Deborah Valdez.

President of Louis XIII Holdings is Hung. He intends to open a new casino in Macau dubbed Louis XIII, which is reported to feature the world’s most expensive hotel suite, with weekly rates of approximately $130,000 and private boutique jewellery pricing beginning at $1 million.

$650 is the minimum amount required to wager at the casino tables. Hung was born to parents who amassed wealth in the real estate industry. Each day, the intern drove a Rolls-Royce to the office. The thirty Rolls-Royces that he purchased for Louis XIII cost approximately $20 million.

Despite the online reports, Bling Empire: New York indicates that Stephen Hung and his wife, Deborah Valdez-Hung, actually have a much higher combined net worth of $2 billion.

What Does Stephen Hung Do?

His parents were successful real estate speculators, and he has dabbled in a number of sectors. Before becoming vice chairman of the Rio Hotel and Casino in Macau, Hung was joint chairman of 13 Holdings Limited in Hong Kong. His primary sources of income are the gambling sector, luxury consumer products, and real estate.

How did Stephen Hung become wealthy?

Stephen Hung was born wealthy since his father was a successful real estate businessman. After graduating from high school, he pursued further education at Columbia and USC, where he obtained an MBA. Stephen applied his family’s real estate expertise to the banking industry, where he quickly rose to prominence.

Stephen was promoted to Co-Head of Investment Banking for Asia at Merrill Lynch in short order. He has also served as Vice Chairman of eSun Holdings and Non-Executive Director of Lippo Group subsidiary AcrossAsia Limited. Stephen founded his investing firm on the strength of his vast knowledge and subsequent success in the industry. After some time, he decided to try his hand at resort and hotel construction.

Stephen has led the construction of a resort in Macau, China, under the Louis XII Holdings Limited brand since 2013. He was joined by Princess Tania de Bourbon Parme. The project was finished in 2017 and was titled The 13. Unfortunately, the company encountered difficulties because it was not operating legally as a casino and hence was unable to receive the necessary revenue.

Stephen was the Co-Chairman of The 13 Holdings Limited, a company that targeted ultra-wealthy and accomplished Chinese businesspeople. The initiative never attained the level of success its creators had hoped for, despite their best efforts.

Paul Y Engineering, the engineering company owned by The 13 Holdings Limited, had afterwards 52 percent of its shares sold. Despite this setback, Stephen is still the chairman of The Taipan Investment Group and a very successful businessman. His job at Rio Entertainment Group is Vice Chairman.

Cory Monteith Biography: Early Life, Net Worth, Career, Personal Life and Death

Stephen Hung’s Career

Hung is a graduate of Columbia University and the University of Southern California, where he earned a master’s degree in business administration. Hung was the co-head of investment banking in the Asian area at Merrill Lynch. Eventually, he founded his own investment firm. Additionally, Hung has served as Vice Chairman of eSun Holdings and as a non-executive director of AcrossAsia Limited, a unit of the Lippo Group.

In 2013, he began developing a high-end casino and resort in Macau under the name Louis XIII, with the support of Princess Tania de Bourbon Parme. Even though the project had been lavishly constructed by 2017 (when it was renamed “The 13”), it was still experiencing financial difficulties and had neither opened nor been granted a casino licence.

13 Holdings Limited, Hung’s primary vehicle and the project’s operating company, targeted extremely wealthy officials and business elite in the People’s Republic of China. However, the project’s goals were severely damaged in 2014 when Chinese Communist Party general secretary Xi Jinping visited Macau for its 15th anniversary as a SAR and declared his government’s displeasure with such ostentatious excess as part of his anti-corruption campaign. Approximately 52 percent of the shares of the engineering arm of the corporation, Paul Y Engineering, were sold.