Run Run Shaw

Run Run Shaw the oldest billionaire in the world with a personal fortune of $4 Billion USD has passed away. He died on Tuesday January 7 2014. At age 106 (Chinese age of 107) he was officially the oldest billionaire in the world. Shaw is also the 5th wealthiest individual in Hong Kong. Originally born as Shao Ren Leng on 23 November 1907 to a Shanghai textile merchant in Ningbo, Zhejiang, Shaw was the youngest of six sons. He co-founded the famous Shaw Brothers Studio, one of the largest film production companies in the world. 

run run shaw

His involvement in the business world started at the young age 19 when he followed his brother Runme Shaw to Singapore to establish Shaw Organisation. They set up a chain of cinema theaters and also establish a number of amusement parks. By 1939, the brothers have 137 cinemas across the region. Shaw was also the founder of Television Broadcasts Limited or TVB which is the dominating television company in Hong Kong. TVB has 80% of Hong Kong's viewers and 78% of Hong Kong's advertising market. Due to his work, he soon became a media mogul and a philanthopist and was also given a knighthood.

run run shaw

Today, Run Run Shaw is best known in the Chinese world as the Top Dog or Big Boss of TVB. Shaw launched this company in 1967 and today it is a multi-billion dollar TV empire with broadcasts in 30 markets including the US, Canada, Taiwan and Malaysia. TVB is the world's largest producer of Chinese language programs. In March 2011, Shaw sold his entire 26 per cent stake in TVB to a group of investors for HK $6.26 Billion. 

In December 2011, Shaw stepped down from all his posts in TVB. Run Run Shaw has certainly been a big influence in the Hong Kong film industry. His Shaw Brothers Studios helped usher in the golden age of Hong Kong movies. At its height, the studio churned out 40 movies a year and since it establishment in 1958, the studio has produced nearly 1000 movies. Shaw Brothers Studios was instrumental in helping to launch careers of powerhouses such as actor Chow Yun Fat, famed director John Woo and director Wong Kar Wai. Many other popular stars who rose to fame owed their success to Shaw's companies.

Over the years, Shaw has given back to society and was one of the most generous billionaires in the world. He has donated billions of HK Dollars to schools, charity and hospitals. The Chinese University of Hong Kong, Shaw College was named in honour of Run Run Shaw. In the 2008 Sichuan earthquake, Shaw donated $100 Million HK Dollars to help with disaster relief.

In his personal life, Shaw was married twice. His first wife, Lily Wong Mei Chun died in 1987 at the age of 85. He later married Mona Fong Yat Wa in Las Vegas in 1997. Shaw has four children, daughters Violet and Dorothy and sons Vee Ming and Harold. Shaw died peacefully at his residence on January 7 2014 at 6.55 am Hong Kong time with his family by his side. The passing of this great media mogul will certainly be missed by the citizens of Hong Kong and the whole Chinese speaking world. The world has also lost its oldest billionare.

run run shaw

Return from Run Run Shaw to Businessman Net Worth

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References:

Forbes (The ultimate site for billionaire rankings)

CelebrityNetWorth (The ultimate site for net worth of celebrities)

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