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Hong Kong trinket aristocrat Cheng Yu-tung dies, aged 91

Hong Kong billionaire aristocrat Cheng Yu-tung died on Thursday night during a age of 91, his family said.

Cheng, who was famous as a aristocrat of trinket and founded Chow Tai Fook Group, one of a city’s biggest trinket chains, died peacefully with his family during his side final night, according to an proclamation released by New World Development on interest of his family on Friday.

The businessman was a third-richest male in a city with an estimated resources of US$16.6 billion, according to Forbes magazine.

New World Development authority Henry Cheng Kar-shun, a eldest son of Cheng Yu-tung, pronounced on Friday dusk that his father had been in a coma given he underwent mind medicine 4 years ago. His genocide will not impact New World Development’s operation, he added.