Entries in Billionaire (2)


$65M Marriage Reward: Chinese Billionaire Wants Daughter to Go Straight 

ABC News(NEW YORK) -- The Hong Kong billionaire who offered millions to any man who could successfully woo his lesbian daughter told ABC's 20/20 in an exclusive new interview that he wouldn't force her to change her "gay tendency," but seems to hold out hope that she will anyway.

"I'm not saying that she's not okay to be gay.  I mean it's her own choice and her own tendency... But [she should] make sure she knows what she wants.  Maybe what she wants today is different [than] what she wants in the future," Cecil Chao told 20/20 in an interview airing Friday.

Chao, 76, a Hong Kong real estate magnate, made headlines late last month when news reports quoted him as saying he would offer $500 million Hong Kong dollars -- $65 million in U.S. cash -- to a successful male suitor for Gigi Chao, one of Cecil Chao's three children.

Since the announcement, offers from men around the world have come pouring in, but the tycoon's daughter isn't interested.

"My heart is taken," she told 20/20.

Gigi Chao, 33, has been in a relationship with a woman, Sean Eav, for eight years.  The pair made it official in a church ceremony in Paris earlier this year.

Gigi Chao said she broke the news of the Paris ceremony to her father in June.

"He was surprised and unpleasantly shocked by it," she recalled.  She said her father also urged her not to make the news public, but word leaked out when a tabloid reporter asked Eav in September when the two would be married.  Eav told the reporter the couple was already married.

Meanwhile, Cecil Chao questioned the validity of his daughter's marriage.

"I explained to him that it's (by) no means legal, and it's a church ceremony -- a church blessing," Gigi Chao said.  "And so, he found it necessary to make an announcement that, 'My daughter is, in fact, not married, she's still single.'"

But Cecil Chao then went a step further.

While "the reporters had their mics in his face, he just kind of goes, 'No.  No, she's not homosexual.  She's not-- she doesn't have gay tendencies.  She's not married.  In fact, I'm trying to find a husband for her.  Why don't you guys try to help me.  I'll offer 500 million,'" Gigi Chao said.

Long time watchers of Cecil Chao, a staple of Hong Kong tabloids for years, may find his sudden championing of marriage surprising.  Chao himself has never married.  He fathered his three children with three different women and has boasted of sleeping with more than 10,000 women.

Nonetheless, he said he wants a "normal family life" for his daughter.

Watch the full story on 20/20 Friday at 10 p.m. ET.

Copyright 2012 ABC News Radio


India: Superstition Leaves $1B Home Empty

Adeel Halim/Bloomberg via Getty Images(MUMBAI) -- India’s richest man is enjoying his 27-story Mumbai home from afar. The world’s most expensive home, which cost $1 billion to build, is reportedly empty because the owner believes it would be bad luck to move in, according to the Daily Mail.

The building towers above the city and boasts three helicopter landing pads, floating gardens, six car parks, a theater and a grand ballroom.

The building’s purported problem is that it lacks the correct vastu shastra, a Hindu equivalent of feng shui, according to the Daily Mail.  The architectural doctrine emphasizes the importance of facing the sunrise and the home reportedly does not have enough windows on the east side, which could cause bad luck.

Its owner, Mukesh Ambani, 53, was ranked by Forbes as the ninth richest man in the world. His fortune is valued at $27 billion. Forbes called his petrochemical company, Reliance Industries, “India’s most valuable company.”

The home is called Antilla and was completed last year amid controversy because it was criticized as an ostentatious show of wealth in a largely poverty-stricken country.

A spokesman for Ambani’s company would not comment on Ambani’s reluctance to move his family into the home, according to the Daily Mail.

Copyright 2011 ABC News Radio

ABC News Radio