Stephen Hung is the founder and Chairman of Louis XIII Holdings, a luxury hotel and casino conglomerate in Macau and Las Vegas. He is also a significant shareholder in MGM China and Sands China. He has been involved in the entertainment industry since the 1990s, producing several films and television shows.
In recent years, he has made a name for himself as an investor in high-end real estate, particularly in Asia. He has a reputation for being an intelligent and savvy investor and a generous philanthropist. This article will examine Stephen Hung’s net worth, career, and investments.
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Stephen Hung Net Worth
Stephen Hung Net Worth: Millionaire businessman Stephen Hung has a net worth of $400 million. Stephen Hung attended both Columbia and USC for his education. In the financial industry, he was employed with Merrill Lynch Asia. Hung obtained his wealth through work in investment banking and property development. He is married to the model Deborah Valdez (Instagram account), with whom he shares two children.
Hung leads Louis XIII Holdings as its president. He plans to establish a new casino in Macau named Louis XIII, rumored to house the world’s most luxurious hotel suite, with nightly rates of about $130,000 and private boutique jewelry prices starting at $1 million.
The minimum amount required to make a wager at the gaming tables is $650. Hung came from affluent parents who made their fortune in the real estate industry. The intern drove a Rolls-Royce to the office each day. The thirty Rolls-Royces he bought for Louis XIII cost him about $20 million.
What Does Stephen Hung Do?
He has dabbled in several fields; his parents were successful real estate investors. Hung is now the vice chairman of the Rio Hotel and Casino in Macau, and before that, he was the joint chairman of 13 Holdings Limited in Hong Kong. His bread and butter are the casino industry, high-end consumer goods, and real estate.
How Did Stephen Hung Earn His Money?
Stephen Hung was born into affluence since his father was a prosperous real estate investor. After finishing high school, he continued his education at Columbia and USC, where he earned an MBA. Stephen took his family’s real estate knowledge and branched out into the banking profession, where he quickly rose to prominence.
It wasn’t long before Stephen was promoted to Co-Head of Investment Banking for Asia at Merrill Lynch. He has also served as the Vice Chairman of eSun Holdings and as a Non-Executive Director of AcrossAsia Limited, a subsidiary of the Lippo Group. Stephen started his investment firm thanks to his extensive experience and subsequent success in the field. Time passed, and eventually, he decided to try his hand at building resorts and hotels.
Beginning in 2013, Stephen has been leading the building of a resort in Macau, China, under the Louis XII Holdings Limited brand. Princess Tania de Bourbon Parme joined him on this venture. In 2017, the project was completed and called The 13. Unfortunately, the business ran into issues because it was not functioning legally as a casino and could not collect the necessary revenue.
Stephen was the Joint-Chairman of The 13 Holdings Limited, which had targeted China’s ultra-rich and successful businesspeople as a target clientele. Despite their best efforts, the initiative never achieved the level of success its creators had hoped for.
The 13 Holdings Limited’s engineering company, Paul Y Engineering, subsequently had 52 percent of its shares sold. Stephen is still the chairman of The Taipan Investment Group and a very successful businessman despite this setback. At Rio Entertainment Group, he holds the position of Vice Chairman.
Stephen Hung’s Career
Hung received his education from Columbia University and a master’s degree in business administration from the University of Southern California. At Merrill Lynch, Hung was a co-head of investment banking in the Asian region. He eventually created his own investment company. Hung’s professional history also includes stints as the Vice Chairman of eSun Holdings and the non-executive director of AcrossAsia Limited, a subsidiary of the Lippo Group.
In 2013, with the assistance of Princess Tania de Bourbon Parme, he began creating a high-end casino and resort in Macau under the name Louis XIII. Although the project had been lavishly constructed by 2017 (when it was rebranded as “The 13”), it was still facing financial troubles and had neither opened nor been granted a casino license.
Hung’s principal vehicle and the project’s running company, 13 Holdings Limited, had aimed at incredibly affluent officials and business elite in the People’s Republic of China. However, in 2014, the project’s objectives were seriously hampered when Chinese Communist Party general secretary Xi Jinping visited Macau for its 15th anniversary as a SAR and proclaimed his government’s dissatisfaction with such conspicuous excess as part of his war on corruption. Approximately 52% of the shares in the company’s engineering subsidiary, Paul Y Engineering, were sold.
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