Zhuang Yating reveals a frugal side of Zhong Peisheng: the billionaire heir gifts luxury cars but sticks to an old phone

(Hong Kong, April 5) Billionaire heir Derek Ting has recently entered a new chapter in life after successfully proposing to his district councillor girlfriend, Angel Chong. The couple officially announced their marriage at the end of March, marking a joyful milestone.

Known for his lavish spending, Derek previously gifted his wife a Porsche worth over HKD 1 million as a grand gesture of love. However, Angel recently revealed a surprisingly frugal side of him, sparking widespread discussion online.

She shared a photo of Derek’s mobile phone on social media, joking that it was “so damaged it can’t even take a proper selfie,” with the front camera no longer functioning. The image showed visible damage at the top and front lens area, resulting in blurry visuals. Many netizens were stunned by the contrast—despite his immense wealth, he continues using a worn-out phone.

Derek is the grandson of the late property tycoon Ting Kong-hoi, widely recognized as part of a “third-generation billionaire” family. A graduate of the University of Southern California, he chose not to take over the family real estate business. Instead, he founded Hong Kong Esports Limited (HKES) in 2013 and was later named in Forbes Asia’s 30 Under 30 list in 2018.

When announcing their marriage, the couple also showcased their luxurious accessories. Angel wore a large diamond ring alongside an Audemars Piguet watch worth around HKD 300,000, while Derek sported a platinum Patek Philippe timepiece valued between HKD 3 million and HKD 5 million—highlighting both their wealth and refined taste.