This is how business is done in Asia, apparently
You can pick your friends, but you can’t pick your relatives. 89-year-old Stanley Ho is a titan of Hong Kong and Macau’s business community; his family company, SJM, held a monopoly on Macau’s lucrative gambling industry for more than thirty years and still rakes in hundreds of millions of dollars of profit every year. He’s a multi-billionaire, he had brain surgery in 2009 after a suspected stroke, he has four wives and seventeen children… and one of his ex-wives and two of his kids stand accused of trying to steal his 30% stake in SJM.
But was it all a misunderstanding?
For the latest “bizarre” episode in this saga, here’s the Spencer Street Soviet (emphasis added):
An 89-year-old Macau casino tycoon, visibly dazed and struggling to read from a giant cue card, [ed note: and a cocked pistol off-screen?] went on live television last night to say he had “resolved” a dispute with relatives over his fortune. In the latest bizarre twist involving Stanley Ho, who turned the former Portuguese colony of Macau into Asia’s gambling capital, Mr Ho backtracked on previous claims that his relatives had “robbed” him of his flagship company.
But on Thursday morning, not 24 hours after the broadcast, he sued his children and his third wife to stop them taking control of the company.
Nobody seems to know who speaks for Stanley Ho. Nobody even knows if he’s competent any more.
The case continues.