Cecil Chao announced the financial reward of HK$500 million after his daughter, Gigi, married her same-sex partner of seven years in France earlier this year, the South China Morning Post reported.
"I don't mind whether he is rich or poor. The important thing is that he is generous and kind hearted," 76-year-old Chao was quoted as saying.
"Gigi is a very good woman with both talents and looks. She is devoted to her parents, is generous and does volunteer work," he added.
He also rejected "false reports" that Gigi, 33, had married abroad, saying she was still single.
Chao, who owns publicly-listed property developer Cheuk Nang, could not be reached for comment.
Same-sex marriages are not recognised in Hong Kong, a socially conservative Chinese city where homosexuality was decriminalised in 1991.
Chao is well known in Hong Kong's social circles and regularly appears at public events with his latest young girlfriend.
He reportedly once claimed to have had intimate relations with 10,000 women.
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