Stephen Hung is a Chinese-born American millionaire businessman who is the founder and chairman of SH Capital Group. He is also serving as a Vice Chairman of Rio Hotel & Casino. Previously, he worked as a head of Investment banking, in Asia at Merrill Lynch. Hung is known for being featured in Netflix’s series, Bling Empire: New York. As of 2023, Stephen Hung net worth is estimated to be around $400 million.
Who is Stephen Hung?
|Date of Birth
|August 24, 1959
|63 years old
|Hong Kong, China
|Business executive, property investor
Stephen Hung is a business tycoon and property investor originally from Hong Kong. He is currently working as the joint chairman of a Hong Kong-based investment holdings company, The 13 Holdings Limited. Additionally, he serves as the President of Louis XIII Holdings company.
Stephen was born on August 24, 1959, in Hong Kong, China. He was born into a wealthy family where his father was a highly successful property investor. Stephen studied at Columbia University and later joined the University of Southern California to earn a Master’s degree in Business Administration. Hung reportedly moved to New York in 1977.
Stephen Hung Net Worth & Career
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Stephen Hung began his career by working as the Vice President of Real Estate at Citi. He joined the company in 1983 and worked there for three years until 1985. Hung became the head of Investment Banking, Asia at Merrill Lynch in 1985. He served at Merrill for six years until 1991. Following that, he founded and served as the chairman of an investment holdings company, The 13 Holdings Limited.
Stephen founded a private investment firm, SH Capital Group in 1992. The investment firm mainly focuses on the real estate, hospitality, and luxury industries. In addition to that, he also serves as the Vice-President of the Rio Entertainment Group which runs a Macau casino. Stephen started working on the development of a resort in Macau in 2013 under the banner of Louis XII Holdings Limited.
Hung was joined by Princess, Tania de Bourbon Parme for the project in Macau. The project was eventually completed in 2017 and was renamed The 13. Though, the company had to face financial difficulties as it didn’t get a casino license. The 13 Holdings Limited mainly focused on the highly successful entrepreneurs and uber-wealthy people of China. Nevertheless, the project didn’t become successful. Subsequently, after some time, 52% of the stakes in Paul Y Engineering was sold, which was the engineering subsidiary of The 13 Holdings.
Hung and the South Shore Holdings Limited company reportedly lost approximately $.16 billion on another luxury gaming hotel, The 13 Macau which was a fiscal disaster. The 13 Macau was a hotel and casino which was built focusing on VIP members. The VIP-focused hotel and casino were opened in 2018. In the first year of operation, only 16 rooms were booked. Stephen was eventually ousted from South Shore after the property was closed in 2020.
Stephen has been recently in the limelight for being featured as one of the eight cast members on Netflix’s new series, Bling Empire: New York. The Netflix series started premiering on January 20, 2023. The reality series follows the wealthy Asian Americans’ sophisticated lives in New York City. The show also features their luxurious and rich lives along with their exciting wardrobes. Some other stars to appear on the show are Dorothy Wang, Tina Leung, Lynn Ban, Blake Abbie, Richard Chang, and Vika.
Stephen Hung’s Wife & Personal Life
Stephen Hung is married to a model, Deborah Valdez. The two met in Hong Kong when Deborah was enjoying her vacation after completing her law studies in Mexico.
Stephen and Deborah tied the knot in 2012 in the Diamond Ballroom at the Hong Kong Ritz-Carlton. After getting hitched, the two attended a ton of high-society events together in Hong Kong. The couple shares two sons named Ivan and Sean.
Stephen Hung Net Worth
Stephen Hung has earned an estimated net worth of $400 million as of 2023. He was called the world’s biggest spender by the Washington Post in 2014. Hung was given the title for wearing expensive designer clothing from brands like Versace and Dolce & Gabbana and for his extravagant car collection. Stephen also made headlines after purchasing 30 customized red Rolls Royce Phantoms for a whopping $20 million.
Some facts about Stephen Hung
- Stephen is a wealthy businessman who is the joint chairman of ‘The 13 Holdings Limited’.
- He went to Columbia University and the University of Southern California.
- After graduating, he worked at Merrill Lynch.
- His parents were also successful business people.
- He has met high prominent celebs including Steve Harvey and Jean Paul Gaultier.
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