well as ownership of Hong Kong Tramway and the Star Ferry. In 1985, Pao was able to take control of Wheelock Marden, one of Hong Kong's premier companies established in 1857, when John Cheung sold his 34% stake to Pao for HK$2.5 billion forming a core shareholding from which to launch a bid in opposition to the bid from Tan Sri Khoo Teck Puat who had bought John Marden's 34% stake in the company. Wheelock gave World-Wide exposure to more prime central Hong Kong property as well as the Lane Crawford department store. Retirement and other activities In 1986, Pao retired from day-to-day management of the group handing over the shipping business to his son-in-law Helmut Sohmen and the Wheelock / Wharf interests to Peter Woo, another son-in-law. By 1989 he announced that he had given up his interests in the Trusts that held the Pao family assets (the shipping interests going to the Sohmen family and the Wheelock / Wharf interests going to the Woo family) and gave up his title as Honorary Chairman of World International. He had already retired from his directorship of the Hongkong and Shanghai Banking Corporation in 1983 when he hit the mandatory retirement age of 65 but continued to lead a very active life taking in advisory roles (formal and informal) and philanthropic activities. Over the years, Pao was on a number of corporate advisory committees including Chase Manhattan Bank, Industrial Bank of Japan, AT&T, United Technologies Corporation and Caterpillar Inc. Pao was active in philanthropic works and was particularly interested in educational projects. Among notable gifts were US$20m to found Ningbo University, a £14m contribution to the Sino-British Friendship Scholarship scheme to enable Chinese students to attend British Universities and a US$10m gift to build a library at Shanghai Jiao Tong University. Personal Pao had 4 daughters. On 23 September 1991, Pao died in Hong Kong at age 72. His son-in-law Peter Woo became the patriarch of Pao's business empire. Legacy The YK Pao School in Shanghai was founded in memory of Sir Yue-Kong Pao. Yue-Kong Pao Hall at Purdue University and the Pao Yue-Kong library at the Hong Kong Polytechnic University were also named in his honour. There is also a Sir Yue-Kong Pao Hall in Chinese International School as well as Pao Yue Kong Swimming Pool in Wong Chuk Hang in Hong Kong. Sources References External links Pao family profile