Li Ka-shing, a Hong Kong businessman and philanthropist, is one of Asia’s wealthiest individuals. He is not only a powerful figure in his homeland, but also one of the most powerful businessmen on the entire Asian subcontinent. He previously served as Chairman of the Board of Directors of the now-defunct Hutchison Whampoa Limited (HWL) and is currently Chairman of Cheung Kong Holdings, one of Hong Kong’s largest multinational conglomerates. He is involved in a variety of industries, including real estate, ports, electricity, telecommunications, and the internet. His extraordinary success story is truly inspirational. Born in mainland China to impoverished parents, he fled to Hong Kong as a refugee following the Japanese invasions in 1940. He also lost his father when he was a child and was forced to work at the age of 15. As an intelligent, hardworking, and determined young man, he established his own businesses and rose to prominence as one of Hong Kong’s leading industrialists. Respected worldwide as a man who is truly committed to ethics and moral values, Ka-shing is also a well-known philanthropist, having donated more than a billion dollars to charity. Despite being one of the world’s wealthiest individuals, he is known for being an unassuming individual who lives frugally.
Childhood & Adolescence
Li Ka-shing was born on 29 July 1928 in Chaozhou, Guangdong province, China. His family was impoverished, and his father, a teacher, was the principal of a nearby primary school.
He grew up in China during a period of great political turmoil. In 1940, following the Japanese invasion of China, his family fled to Hong Kong. The family struggled to re-establish their lives in their new surroundings after suffering another major tragedy within a three-year period. When Li Ka-shing was only 15 years old, his father contracted tuberculosis and died in agony.
He was forced to leave school and work in order to support his family. He began his career as a salesman for a plastics trading company, selling plastic watchbands and belts. He worked long hours, frequently up to 16 hours per day, and established himself as a capable salesman.
Later Decades of Li
After gaining valuable experience working in the plastics industry, Li was able to establish his own business, Cheung Kong Plastics, in 1950. Initially, the company manufactured and exported artificial flowers to the United States.
Throughout the 1950s, the company experienced steady growth, and Li began looking for ways to expand.
In 1958, he purchased his first factory, the first of numerous real estate investments. He shifted the focus of his plastics company over the years, eventually transforming it into a property development and management firm.
The business prospered in the years that followed, and in 1971 the company was renamed Cheung Kong Holdings. In 1972, it was listed on the Hong Kong Stock Exchange.
In 1979, he expanded his business by purchasing Hutchison Whampoa from HSBC. This expanded his existing business into a variety of diverse industries.
He quickly built Hutchison into the world’s largest independent port operator, with investments in container port facilities in Hong Kong, Canada, China, the United Kingdom, Rotterdam, Panama, and the Bahamas, among other locations.
Li also ventured into the technology industry. Horizons Ventures, one of his firms, is an investment and venture capital firm focused on new internet and technology startup companies. It recently acquired a stake in doubleTwist, a digital marketing company.
He also owns a 0.8 percent stake in Facebook, which he acquired through his other company, the Li Ka Shing Foundation. Additionally, he owns Ginger Software Incorporated.
Significant Work of Li
Cheung Kong Industries was founded in the 1950s by Li Ka-shing as a plastics manufacturer. In the 1970s, the company expanded and diversified into various other fields, eventually becoming Cheung Kong (Holdings) Limited.
Today, it is one of Hong Kong’s largest multinational conglomerates, operating in more than 50 countries and employing more than 240,000 people worldwide.
Awards and Accomplishments
In 2000, he was appointed Knight Commander of the Order of the British Empire. In 2001, he received the Grand Bauhinia Medal, the highest honour in the Hong Kong honours and awards system, in recognition of his lifelong and significant contribution to Hong Kong’s well-being.
Works of Philanthropy
Li Ka-shing is a well-known philanthropist who has donated millions of dollars to educational institutions, hospitals, and other deserving causes worldwide through the Li Ka Shing Foundation, which he founded in 1980.
In 2001, he donated HK$100 million to the Hong Kong Polytechnic University, which resulted in the university naming a tower after him.
He endowed the University of Cambridge with a £5.3 million gift in 2002, establishing the Li Ka Shing Centre, which houses a Cancer Research UK facility.
In 2007, he made a $100 million contribution to the Lee Kuan Yew School of Public Policy at the National University of Singapore.
Personal History and Legacies
Li Ka-shing is a remarried man. He married Chong Yuet Ming in 1963 and she died in 1990. He is the father of two sons, Victor Li and Richard Li, both of whom are successful businessmen in their own right.
He is well-known for upholding moral values and leading a simple life. He does, however, own a sumptuous mansion in one of Hong Kong’s most affluent neighborhoods, Deep Water Bay on Hong Kong Island. Li Ka-net shing’s worth was $33.5 billion in 2015.
Estimated Net Worth
The estimated net worth of Liu is $34.4billion.
Trivia
This business magnate is frequently referred to in Hong Kong as “Superman” due to his business prowess.