Stanley

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  • Topic: Macau, Hong Kong, Pearl River Delta
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  • Published : April 21, 2013
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Stanley Ho Hung Sun : the ‘King of Gambling’ ,from his multiethnic identity to the contribution to society Introduction
Macao is known to the world for its casino industry. Macao's richest man, Ho Hung Sun, is an entrepreneur in Asia. Ho is also known as "The King of Gambling", showing the monopoly he held of the Macau gambling industry for over 40 years. Behind Stanley Ho's successful career is a story of ordeals and adventures that will inspire everyone. This essay focuses on the contribution of Stanley Ho as a multiethnic entrepreneur in laying the foundations for Macao to become a world-know gambling place. The factors that explain Stanley Ho's success is complex .Ranging from his multiethnic identity, family connections, to the historical background (particularly the Second World War and the Handover to China), have all played a vital role.   Background

Stanley Ho’s Multi-ethnicity
Stanley Ho was born in a well-known and influential family in Hong Kong on November 25, 1921. His grandfather Ho Fok was the younger brother of Sir Robert Ho Tung, an influential figure in Hong Kong’s political and commercial circles at that time. While Sir Robert Ho Tung, was an influential businessman in British Hong Kong. He was an multiethnic person, born to a man of Dutch and Jewish ancestry named Charles Henri Maurice Bosman and Madame Sze, a Han Chinese woman of Bao An heritage. It has often been claimed that he was the "first Chinese to be allowed to live on Victoria Peak" in 1906. Stanley Ho’s father, Ho Sai Kwong, was a business who made great fortunes.Stanley Ho was born with a silver spoon in his mouth. But his father lost his fortune when he was only 12, after an adverse stock market investment and abandoned his family. It shown that Stanley Ho is Portuguese, Jewish, British and Chinese multi-ethnic mixed. “Fortunes may not follow you a lifetime, only knowledge will.” By Stanley Ho Stanley Ho studied at Queen's College, Hong Kong. Owing to his unsatisfactory academic results, he attended Class D, which is the lowest class level. After realizing studying was the only path to improve his social status, he worked hard and earned himself a scholarship to the University of Hong Kong. He was the first student from Class D to be granted a scholarship. But unfortunately he couldn't finish the studies due to the broke out of World War II in1942. Stanley Ho’s Career

Stanley Ho left Hong Kong for Macao with only 10 Hong Kong dollars in his pocket. Fortunately, He soon found a job in the biggest company in Macao. The company was jointly controlled by the most influential groups in Macao, the Portuguese Macao government and the Japanese army. Thanks to his hard work and command of four different languages (Portuguese, Japanese, British and Chinese) .Ho became a partner of the company and got a million dividends at the end of the second year he joined. When the war ended, Ho returned to Hong Kong and started the real estate business. As the industry in Hong Kong was experiencing a period of rapid growth, Ho made huge profits from the business and became one of the richest men in the region. In 1961, the Portuguese Macau government planned to develop Macao's casino industry and placed bids for its operation. Ho teamed up with Henry Fok Ying Tung, a businessman in Hong Kong, and won the bid. They promised the government to open a new port in Macao, and secondly, bought efficient ships which could shortened the commuting time between Hong Kong and Macao to about one and a half hours. More importantly, they committed to spend 90%of the income they earned on charities. Offering such favorable conditions, their rivals could not compete at all. At the end of 1990, Ho had already control the entire casino industry in Macao with his nine casino companies. It is estimated that about 1/4 of residents in Macau were worked for his companies. This explains why Ho received the glory of the "Gambling King" though he never gambled himself. In 2003, Ho...
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