Cheng Yu-tung

Cheng Yu-tung (1925-2016), a Hong Kong magnate of the Chow Tai Fook jewellery house, founded the developer New World Development on 29 May 1970. His family empire financed the property and hotel boom of Hong Kong and China. He laid the foundations of the group that would become, under his heirs, owner of the Rosewood Hotel Group palace brand.