A Case Study of Stanley Ho a.k.a. the "Godfather of Gambling"
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Stanley Ho, the “Godfather of Gambling”, held a government-granted monopoly on Macau’s lucrative casino industry for over four decades. Known beyond casinos, Ho was also the founder and chairman of SJM Holdings, a conglomerate with interests in entertainment, real estate, shipping, and more. At its peak, SJM Holdings owned 19 Macau casinos. Despite his diversified holdings, Ho's legacy remains tied to gambling. His estate was valued at least US$2 billion upon passing in 2020.
Complex Family Tree
Ho is survived by three of the four women he referred to as his “wives”, with whom he had 17 children. His extensive and complex family tree, coupled with the lack of a family constitution to align values and govern his legacy, eventually led to a long and public series of conflicts within the family.
Sickness, and Inability to Make Sound Decisions
In 2009, Ho suffered a serious injury that led to a prolonged seven-month hospital stay, including brain surgery. This event marked a turning point in the casino mogul's health, significantly influencing his subsequent decisions and actions related to his estate.
In 2011, Ho made a series of inconsistent statements about the future of his estate on television, which raised doubts about his mental capacity to make sound decisions.
Absence of a Will
Following his passing, disputes continued amongst his surviving children. The late billionaire did not prepare a will, leaving behind a vast and complex multibillion-dollar estate meant to be divided equally among his surviving loved ones, per Ho’s verbal wishes. However, due to disagreements among the family members, a Hong Kong court was eventually requested to appoint administrators for Ho’s estate.
A documented will before his death could have prevented the lengthy and public legal battle that ensued.
Ongoing Conflict
The family’s internal conflicts received significant media attention before his passing. Two of his daughters from his first marriage, Deborah and Angela Ho, took each other to court over two family trusts. Following his passing in 2020, Deborah took further legal action by filing a caveat with the High Court, preventing any dealings in her father’s estate without her lawyers being notified first. This move was met with disapproval from the other siblings, who criticised it as “completely irresponsible and inappropriate”.
Where Are They Now
While the battle for his estate ensues, some of Ho’s children have decided to pursue paths outside of the main family business, leaving the management of the casino empire to a select few.
How We Can Help
At Golden Equator Wealth, we believe that the key to successful wealth preservation involves starting the succession planning journey early. Our team of experienced wealth advisory professionals and investment managers can provide support in the following areas, ensuring a lasting family legacy for generations:
To learn more about how a Family Office can support your estate and succession planning needs, contact us at hello@goldenequator.com.
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