HONG Kong billionaire Lee Man Tat, nicknamed the “King of Oyster Sauce” for his role as chairman of Chinese-style condiments maker Lee Kum Kee Group, has died (July 27). He was 91.
Lee passed away on Monday, according to a statement on the WeChat account of Infinitus, a health-products company chaired by one of his sons. He had a fortune of US$17.6 billion (about RM74.47 billion), according to the Bloomberg Billionaires Index.
The Hong Kong-based company was founded by his grandfather, Lee Kum Sheung, in 1888.
According to popular legend, grandfather Lee, who was then a 26-year-old tea stall owner in a village in Guangdong province, near China’s south coast, invented oyster sauce by accident when he forgot he had left a pot of boiling bivalves simmering on the stove.
Smelling a strong odour wafting through his kitchen and fearing he had wasted an entire pot of oysters, he found a thick, aromatic paste at the bottom of the pot. Not wanting any of it to go to waste, he experimented with it, using it to flavour meat and vegetables.
It was delicious and received encouraging reviews from his family members and friends.
He began making batches of his ‘fortunate mistake’ for sale in ceramic jars. The oyster sauce was a hit with consumers, as it enhanced the taste of local dishes. And that was how the company, Lee Kum Kee (LKK), was born.
Grandfather Lee had his share of fortune and misfortune through the years, which included rivals copying his invention, and a fire that burned down his workshop and razed the entire street his family had lived in. He and his family escaped but had to start everything again from the ground up.
After his death in 1928, his sons took over the company and moved the entire operations to Hong Kong in 1954.
Grandson Lee Man Tat was born in 1930 and joined the company at age 15 after dropping out of school. He was tasked to deliver sauces to restaurants.
Lee eventually began overseeing overseas operations, personally visiting Asian markets and restaurants to introduce the brand and new products to the growing demand from the Chinese diaspora all over the world.
Lee Kum Kee sauces appeal to homesick Asians of all nationalities in far-flung places where the Chinese and Asian populations are huge such as San Francisco, New York, Vancouver, and in countries like Australia, South America, and the UK.
Today, there are more than 200 varieties of sauces, dressings, seasoning powders and condiments sold in more than 100 countries, according to its website.
The Lees are among the wealthiest families in Hong Kong and own properties in London, Hong Kong and mainland China, including the iconic Walkie Talkie building in England’s capital, which they bought for £1.3 billion (US$1.8 billion) in 2017.
Lee is survived by his wife Choi May Ling, and their children Charlie, Eddie, David, Sammy and Elizabeth. His children are all involved in the company, each bringing with them expertise in the areas of food sciences, chemical engineering, marketing, and finance. The group’s main sauce business is now chaired by Lee’s son Charlie. – The Vibes, July 30, 2021
