Li was one of the most influential entrepreneurs in Asia, presiding over a business empire with a diverse portfolio of businesses from a wide array of industries, including transportation, real estate, financial services, retail, and energy and utilities. Owing to his father's death, he was forced to leave school before the age of 15 and found a job in a plastics trading company where he worked 16 hours a day. He continues to serve his conglomerate as a senior advisor and his son, Victor Li , has succeeded him as chairman.
A Harvard Business School article summarises Li's career in the following way:.
From his humble beginnings in China as a teacher's son, a refugee, and later as a salesman, Li provides a lesson in integrity and adaptability. Through hard work, and a reputation for remaining true to his internal moral compass, he was able to build a business empire that includes: banking, construction, real estate, plastics, cellular phones, satellite television, cement production, retail outlets pharmacies and supermarkets , hotels, domestic transportation sky train , airports, electric power, steel production, ports, and shipping.
In , after learning how to operate a plant, Li founded a plastic manufacturing company in Hong Kong with personal savings and funds borrowed from relatives.
Li avidly read trade publications and business news before deciding to supply the world with high quality plastic flowers at low prices. Li learned the technique of mixing colour with plastics that resemble real flowers.
Li Ka Shing: Hong Kong's Elusive Billionaire
After retooling his shop and hiring the best technicians he could find, he prepared the plant for a visit from a large foreign buyer. Impressed with the quality of Li's plant, the buyer placed a large order. A few years later, Li grew to be the largest supplier of plastic flowers in Asia and made a fortune selling them.
In , believing rents would continue to rise, Li decided to purchase a site and develop his own factory building.
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An opportunity to acquire more land arrived after the riots when many people fled Hong Kong, and, as a result, property prices plummeted. Li believed the political crisis would be temporary and property prices would eventually rise, and bought land from the fleeing residents at low prices. During board meetings, Li stated on a number of occasions his goal of surpassing the Jardines-owned Hongkong Land as a leading developer.
Despite its size, Jardines decided in the s to protect itself from hostile takeover by Li or other outside investors.
In , the company also moved its legal domicile from Hong Kong to another British overseas territory — Bermuda , in anticipation of the transfer of sovereignty of Hong Kong to People's Republic of China in A subsidiary of CK Hutchison, the A.
Watson Group ASW , is a retail operator with over 12, stores. Its portfolio encompasses retail brands in Europe such as Superdrug UK , Marionnaud France , Kruidvat Benelux countries , and in Asia including health and beauty retailer Watson's store and wine cellars et al. ASW also produces and distributes water products and beverages in the region.
CK Hutchison group has the reputation of being an astute asset trader. It builds up new businesses and sells them off when shareholder value could be created.
Li has also made a foray into the technology business, where his investment and venture capital firm Horizons Ventures is specifically allocated towards backing new internet and technology startup firms, and bought a stake in doubleTwist.
In , Horizons Ventures invested in Summly , a website-summarizing app. Notably, the investment made Nick D'Aloisio, Summly's founder, the world's youngest person to receive a venture capital investment at just fifteen years old.
He was the single largest shareholder of Canadian Imperial Bank of Commerce CIBC , the fifth largest bank in Canada, until the sale of his share in with all proceedings donated, see below. He is also the majority shareholder of a major energy company, Husky Energy , based in Alberta , Canada.
Li Ka Shing biography
Following his retirement, Li has devoted his attention to supporting various philanthropic efforts, primarily through the Li Ka Shing Foundation. They are both Canadian citizens. Li is famously plainly dressed for a Hong Kong tycoon. He later wore a Seiko. Instead the case was pursued by Mainland authorities, leading to Cheung's execution in , an outcome not possible under Hong Kong law. Rumours circulated of a deal between Li and the Mainland. For many years, he was considered to be a top pro-Beijing figure.
However, in recent years, tensions have been growing between Li and the mainland, especially with the rise of current president Xi Jinping.
During the Hong Kong protests , he refused to outright condemn the protesters, instead urging for peace and calling on the authorities to respond to the protesters humanely.
On 4 August at the interim results announcement for Hutchison Whampoa , Li endorsed Henry Tang for the forthcoming chief executive election.
Li's business empire has presence around the world, including China. Li came under attack from Global Times in early , when his companies put out word that it was considering selling prime Shanghai and Beijing properties. It became apparent that Li aimed at re-weighting his asset portfolio to more stable and transparent markets in the West. Specific reproaches were that his asset disposals were "an act of ingratitude" and "immoral at such a sensitive juncture".
From Wikipedia, the free encyclopedia. Hong Kong entrepreneur.
This article is about the founder of Cheung Kong Holdings. This is a Chinese name ; the family name is Li. The Honourable Sir. Chao'an , Chaozhou , Guangdong , China. Chong Yuet Ming m.
Li Ka-Shing : The Biography
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