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Li Ka Shing
Senior Advisor, CK Hutchison HoldingsBirth DetailsJune 13, 1928 | Chiu Chow, China
NationalityHong Kong
LeagueBusiness Leader
EducationSchool dropout
Net Worth$26.3 billion (As of August 16, 2020)
Li Ka Shing's Assets:
Li Ka Shing's Journey so far ...
Before you go ...
- CK Hutchison Holdings
Li Ka Shing's Journey so far ...
- Li Ka Shing moved to Hong Kong from China at the tender age of 12 as a World War II refugee. His father, a poor teacher, soon passed away due to tuberculosis as he could not afford hospitalisation and Li was left to fend for himself
- In 1950 at the age of 21, he first set out to be a businessman with a small plastics factory, Cheung Kong plastics, named after the mighty River Yangtze. His seed funding of $6,500 was his personal savings and loans from relatives
- He made money from his plastics business and invested idle cash in the late '60s in Hong Kong's real estate. Li soon expanded the business into other segments like ports, telecom, retail and energy
- In 1979, Li was the first Chinese to take over a foreign commercial firm Hutchison Whampoa of Britain. LKS, as he is famously known, had a model of building businesses and exiting when profits were there to be made
- CK Hutchison is today a large conglomerate with a presence in over 50 countries and has as many as three lakh employees on its rolls
- Known for his Midas touch, LKS earned $20 billion in profits when Hutchinson sold UK firm Orange to Mannesmann in 1999. Later that year he sold VoiceStream Wireless for $5.9 billion
- In another big bet in 2007, Li sold 67% stake in India's Hutchison Essar, a joint venture telecom business, to Vodafone for $11.1 billion, he had invested $2 billion
- After 46 years at the helm, Li Ka Shing retired from the post of Chairman in May 2018 and now plays the role of senior advisor to the group
Before you go ...
- In 1980, he founded the philanthropic wing named Li Ka Shing Foundation and through this arm contributed over $26 billion to many countries in the world for various causes
- Known for his hard work, frugal lifestyle and business prowess, LKS is revered as "Chiu Yan" (Superman) by the people of Hong Kong
Last Updated: 01/03/2021
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