(Aug 30): Lee Kum Sheung invented oyster sauce by accident when he overcooked some bivalves 130 years ago, conjuring the sweet-and-salty condiment that would become a staple of Cantonese cuisine.

His heirs aren’t leaving anything to chance as they work to succession-proof one of Asia’s wealthiest family dynasties.

Now stretching into its fifth generation, Hong Kong’s Lee Kum Kee group has become an instructive case study for ultra-rich Asian families who’ve amassed unprecedented fortunes in recent years. Many are dealing with succession issues for the first time, trying to avoid the Chinese adage that “wealth does not go beyond the third generation.”

To continue reading,

Sign in to access this Premium article.

Subscription entitlements:

Less than $9 per month
3 Simultaneous logins across all devices
Unlimited access to latest and premium articles
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)

Related Stories


    Stay updated with Singapore corporate news stories for FREE

    Follow our Telegram | Facebook