Who is Billionaire Joseph Lau?
This month, billionaire Joseph Lau broke world auction records for his purchase of the rare “Blue Moon” diamond. The 12.03 carat beauty sold for $48.4 million—or an average of $4 million per carat. The diamond is set in a ring and said to be a gift for his youngest daughter, Josephine. The ring has been renamed “Blue Moon of Josephine.”
In light of this recent record-breaking purchase, the Business Rich would like to know: Who is billionaire Joseph Lau?
Joseph Lau has a real-time net worth of $10.2 billion. The Hong Kong real estate investor own a remarkable three quarters of Chinese estates, making him the largest real estate investor in all of China. His brother is also a billionaire.
In 2014, Lau was convicted of bribery and corruption in Macau. He was sentenced to five years in prison. In a turn of events, Lau served no time. Hong Kong has no extradition treaty with Macau, protecting the billionaire.
He has five children, including his daughter Josephine. The day before purchasing the rare Blue Moon diamond, he also bought Josephine a pink one for $28.5 million. It was renamed Sweet Josephine.
Lau is the 6th richest person in Hong Kong and number 114 on the world’s billionaires list. He is an avid diamond collector (beyond his recent purchases) and owns three jets.