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The fabulous life of the man who built the world's biggest gambling town, Stanley Ho

Published by Business Insider on Fri, 30 Jan 2015


He's technically no longer in the business, but casino tycoon Stanley Ho's influence on world wide gambling is impossible to ignore.The 92-year-old billionaire is single-handedly responsible for creating Macau's most profitable industry ' it brings in80 percent of the city's revenue.Ho has been referred to as 'The King of Gambling,' 'The King of Macau,' and Macau's 'underground governor.'In 2011, Forbes ranked Ho the 13th richest man in Hong Kong with anestimated net worth of $3.1 billion.Macau's casinos have suffered a hit in recent months, but the vast presence Ho and his company SJM Holdings is nothing short of impressive.So what's it like to build a billion dollar empire from scratch'Stanley Ho was born into China's well-known and powerful Hotung family in 1921.However, his father went bankrupt during his childhood and two of his brothers committed suicide.Source: The TelegraphHo received a scholarship to attend University of Hong Kong but didn't finish his degree.He dropped out when his family was forced to flee Hong Kong for Macau. This was during the Second World War, when the Japanese invaded.Source: The TelegraphHe made partner at an import-export firm in Macau by age 22.His fortune first came from running luxury goods into China during the war, and he later started a kerosene company.Source: The TelegraphSee the rest of the story at Business Insider
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