Michael Ying

Michael Ying, with an estimated net worth of $3 billion is ranked 16th in Hong Kong’s richest 2014 by Forbes. He is well known as an exemplary business man with great leadership skills and he is also a philanthropist. He is the former chairman and former Chief Executive Officer of Esprit Holdings Limited, a well known clothier.  

Michael Ying was born in Hong Kong in 1949, his family having originated from China, specifically, Wenchang Hainan. He started from initial humble beginnings working as an ordinary laborer in his fledgling years. He also worked for a manufacturing garment factory making his way up the success ladder and finally receiving Esprit as a client. 

In 1970, he was hired by Esprit as the sole sourcing agent and later, in the 1970s, Susie and Douglas Tompkins (founders of Esprit) commenced business with Michael hence Esprit Far East Group began operations.

Michael Ying became the Chairman of the board of Esprit Holdings Limited in 1993 and his stay was characterized by huge successes where the sales were substantially increased from HK$769.7 million in 1993 to HK$23.3 billion in 2006, according to Bloomberg. In addition, he held the position of C.E.O, from which he stepped down in 2002. 

During his career in Esprit, he was also the largest single shareholder with an estimated 15% stake of the company. Michael Ying has since devoted himself to several philanthropic pursuits, starting a family foundation and donating large amounts of money to several charity organizations.

Michael Ying was married in 1986 to Flora Cheong-Leen, a previous ballerina and the result of the marriage was Claudine Ying being born in 1987. Sadly, the marriage came to a dead end soon after. In 1995, Michael Ying married Brigitte Lin, an ex-film star and had two children namely: Ying Oi Lum, who was born in 1996, and Ying Yin Oi, in 2001.

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References:

Forbes (The ultimate site for billionaire rankings)

CelebrityNetWorth (The ultimate site for net worth of celebrities)

TheRichest (Great site for things about money and rich people)

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