What legacy does a billionaire leave behind when they pass away? Cheng Yu-tung, the Hong Kong property magnate who founded New World Development Co Ltd, left an indelible mark on the city's skyline and economy. His death at the age of 91 marked the end of an era for one of Asia’s most prominent business dynasties. Survived by his wife Chow Tsui Ying and four children, Cheng’s life was defined by ambition, resilience, and vision.
Cheng Yu-tung’s journey from humble beginnings to becoming one of Hong Kong's richest men is nothing short of remarkable. Born in Guangdong, China, he moved to Hong Kong during turbulent times but quickly established himself as a force to be reckoned with in real estate. By founding New World Development in 1970, Cheng not only transformed the urban landscape of Hong Kong but also played a pivotal role in shaping its economic trajectory. Despite facing numerous challenges throughout his career, including market fluctuations and political uncertainties, Cheng remained steadfast in his commitment to growth and innovation.
| Name | Cheng Yu-tung |
|---|---|
| Date of Birth | November 24, 1924 |
| Date of Death | September 29, 2016 |
| Place of Birth | Guangdong, China |
| Spouse | Chow Tsui Ying |
| Children | Four |
| Net Worth (at death) | $13 billion USD |
| Notable Achievements | Founder of New World Development Co Ltd; Major contributor to Hong Kong’s real estate development |
| Professional Affiliations | Hong Kong General Chamber of Commerce; Various philanthropic organizations |
| Reference Website | New World Development Co Ltd |
Meanwhile, across the globe, Pope Francis’ passing brought together tens of thousands of pilgrims flocking to Rome ahead of his funeral. The Vatican announced that the pontiff had died following a stroke and subsequent irreversible heart failure. Known for his humility and progressive stance on social issues, Pope Francis became the first Latin American pope and redefined many aspects of the Catholic Church during his papacy. His advocacy for the poor, migrants, and environmental protection resonated deeply with millions around the world. At the time of his death, he was remembered not just as a spiritual leader but as a beacon of hope for marginalized communities globally.
In another significant event, Turkey experienced a coup attempt that reportedly started earlier than planned due to leaks, poor synchronization, and the resolute actions of pro-Erdogan generals. Sources revealed that these factors combined to thwart the putsch before it could fully unfold. While the details surrounding the incident remain complex, it highlighted the fragility of political stability even in nations perceived as relatively stable. This episode underscored how internal dissent and external pressures can challenge leadership structures, forcing rapid responses to maintain order.
Mother Teresa’s path to sainthood received final approval under Pope Francis, clearing the way for her canonization. Recognizing a second miracle attributed to the Nobel Peace Prize winner, the Vatican set the stage for Mother Teresa’s elevation to sainthood. Her lifelong dedication to serving humanity, particularly the destitute and forgotten, earned her global admiration. Even after her death, her influence continues to inspire countless individuals worldwide to follow in her footsteps and contribute positively to society.
As Andrea Tornielli, editorial director for the Dicastery of Communication, explained, the Post-synodal Apostolic Exhortation titled “Christ Is Alive” emphasized the importance of being both integrated within society while maintaining distinctiveness as members of the Church. It urged young people especially to embrace their faith boldly yet respectfully engage with others outside their community. Such teachings reflect broader themes championed by Pope Francis—balancing tradition with modernity, inclusivity with conviction.
Fredi, a former victim of forced labor aboard distant-water fishing vessels, now advocates fiercely for migrant fishers' rights through union involvement. His story forms part of the documentary “Before You Eat,” which sheds light on exploitative practices prevalent in the seafood industry. Supported by Greenpeace Southeast Asia, the Indonesian Migrant Workers Union (SBMI), and Human Rights Working Group (HRWG) Indonesia, Fredi actively participates in initiatives aimed at ending modern slavery at sea. Events such as panel discussions scheduled at the pre-event of #RBHR2024 in Bangkok aim to raise awareness about these critical issues, encouraging businesses to adopt sustainable practices ensuring fair treatment of workers.
Artificial intelligence struggled to predict the outcome of selecting a new pope following Pope Francis’ demise. With artificial intelligence platforms like Mistral offering limited insights into this traditionally secretive process, uncertainty surrounded potential candidates among Catholic cardinals. Yet, regardless of predictions or speculations, the selection of a new pope remains rooted in centuries-old traditions upheld by the College of Cardinals.
The convergence of these events—from the death of a billionaire tycoon to the canonization of a revered humanitarian figure, coupled with geopolitical upheavals and calls for ethical reforms in industries—highlights interconnectedness across different spheres of human endeavor. Each story carries lessons relevant today: whether fostering economic progress sustainably, addressing inequality compassionately, safeguarding democratic institutions vigilantly, or nurturing spirituality meaningfully.
