Billionaire Hong Kong tycoon Joseph Lau dismisses rumours about health, his will and his personal life and says he is victim of ‘fake reports’

Lau, 72, calls press conference to deny he had written wife out of his will and left everything to oldest son

He also denies wife Kimbee Chan caused him to lose more than HK$2 billion in investments

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Billionaire Joseph Lau meet the media in Causeway Bay. Photo: Edmond So

Published: 12:13am, 11 Nov 2023Updated: 1:39am, 11 Nov 2023

Fugitive Hong Kong tycoon Joseph Lau Luen-hung has dismissed rumours about his health and the beneficiaries of his will, accusing mainland China of publishing “fake reports”.

The 72-year-old billionaire on Friday denied stories that he had changed his will to bequeath his fortune to his eldest son from his first marriage and leave wife Kimbee Chan Hoi-wan nothing.

“Kimbee told me to just let it go, but if I don’t speak up, some people will take things further,” the former chairman of Chinese Estates Holdings said.

“I have to come out to protect my family. These are serious accusations, they are not real and they are fabricated.”

Joseph Lau denies wife Chan Hoi-wan cost him HK$2 billion in bad investments and insists she helped him make money from art sales. Photo: Xiaomei Chen

The articles also said that Chan had caused him more than HK$2 billion (US$256 million) in losses through investments and alleged his health was deteriorating.

Billionaire Hong Kong tycoon Joseph Lau dismisses rumours about health, his will and his personal life and says he is victim of ‘fake reports’

Lau, 72, calls press conference to deny he had written wife out of his will and left everything to oldest son He also denies wife Kimbee Chan caused him to lose more than HK$2 billion in investments

Lau, 72, calls press conference to deny he had written wife out of his will and left everything to oldest son

He also denies wife Kimbee Chan caused him to lose more than HK$2 billion in investments