Ronnie and Gerald Chan are Chinese entrepreneur brothers that have time and again popped up in the Forbes billionaire list. With interests in real estate, Ronnie and Gerald have earned themselves a $2.95 billion fortune.
Most of their income springs from their involvement in the Hang Lung Group and Hang Lung Properties, one of the giant real estate developers in Hong Kong and Ronnie sits as the chair after succeeding his uncle. Gerald serves as the non executive director and has been a in the position since 1986.
Ronnie Chang was born in 1949 in Hong Kong. He later relocated to America where he attained his MBA from the University of Southern California and in 1991 became the head of Hang Lung Group. Ronnie is also the vice president of Real Estate Developers Association of Hong Kong, he chairs the Hong Kong Center and co-chairs the Asia society.
He also sits on several advisory bodies of several Universities. Gerald received his undergraduate degree from the University of California and his Doctor of Science degree from Harvard.
He is also a co-founder of Morningside Education Foundation Limited and an active participant in private equity investments. Gerald Chan sits on the advisory boards of a number of Universities including University of California and chairs the Overseers Committee of Morningside College. In 2010, the family chose to turn over day-to-day operations to the former Cathay Pacific CEO Philip Chen.
China’s commercial real estate is slowing down and the brothers got hit by a 15 % drop in share prices in November 2013 alone. However the brother’s managed to stay in the game and was compensated by huge returns from their stake in Xiaomi, a hot Chinese Smartphone-maker. The brothers continue to have China in their hearts and maintain their global outlook as their achievements continue to warm the hearts of many.