Casino Magnate Stanley Ho Criticizes Forbes Report
On February 8th, 2009, Macau gambling magnate Stanley Ho has criticize a magazine article that claimed his personal fortune slide down by eighty-nine percent in the past year, insisting that his casino facilities were "printing money".
Last week, Forbes Magazine stated that Ho's fortune had dropped from $9 billion or 64.8 billion Hong Kong to $1 billion, which is mainly due to a disappointing listing of his gambling firm Sociedade de Jogos de Macau. Ho said that their casino facilities are the equivalent of printing out money. He added that they are printing everyday so how they could be getting poor?
Ho added that he thinks that he should thank the publisher of the report (Forbes) for this new information since he does not have to give out so much on donations and those who are planning to kidnap him also do not need to think about it anymore because he does not have any money. The nephew of one of Asia's first tycoons, Stanley Ho made his first fortune smuggling luxury items across the Chinese border from Macau during World War II before receiving the only gambling license in the then-Portuguese colony in 1962.
Ho then went on to manage transport businesses and a racing track, making him one of the richest men in Asia. Along the way, the keen ballroom lover live a playboy lifestyle, taking four wives and fathering at least seventeen children.
03/03/2009 19:41 PM
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