Joseph Lau

{ "bio": [ "Joseph Lau is the former chairman of property developer Chinese Estates, most of which he acquired in 1986.", "Lau owns a sizable portfolio of prime real estate in Hong Kong.", "An avid art collector, his wealth also includes pieces from Warhol, Gauguin and Hockney that are worth at least $1 billion.", "He became a billionaire in 2006 and his brother Thomas also made the billionaires' club.", "In 2017 Joseph Lau said he transferred most of his wealth to his wife and a son, citing serious health issues." ], "about": [ "Lau purchased a 12-carat blue diamond for a record-breaking $49 million in 2015.", "Lau was sentenced to 5 years in prison by a Macau court for bribery and money laundering in 2014, but he can't be extradited to Macau and hasn't spent a day in jail.", "Lau failed to take Chinese Estates private in 2021, when its investment in cash-strapped mainland property developer China Evergrande had $1 billion loss." ] }