Malcolm Forbes

Hong Kong Billionaire Entrepreneur - Li Ka Shing In Depth Interview

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• published: 15 Nov 2016
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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. Sir Ka-shing Li, GBM, KBE, JP (born 29 July 1928 in Chaozhou, China) is a Hong Kong business magnate, investor, and philanthropist. According to Forbes, as of March 2016 Li is the richest person in Hong Kong and the second richest person in Asia, with an estimated net worth of US$27.1 billion.He is currently the chairman of the board for CK Hutchison Holdings; through it, he is the world's leading port investor, developer, and operator, and the largest health and beauty retailer in Asia and Europe. Considered one of the most powerful figures in Asia, Li was named "Asia's Most Powerful Man, Li Ka-Shing" by Asiaweek in 2001[citation needed]. His companies make up 4% of the market capitalisation of the Hong Kong Stock Exchange.[8] Forbes Magazine and the Forbes family honoured Li Ka-shing with the first ever "Malcolm S. Forbes Lifetime Achievement Award" on 5 September 2006, in Singapore.[9] In spite of his wealth, Li has cultivated a reputation for leading a no-frills lifestyle, and is known to wear simple black dress shoes and an inexpensive Seiko wristwatch. He continues to live in the same house as he has for decades, which has now become one of the most expensive districts in Hong Kong, Deep Water Bay in Hong Kong Island. Li is also regarded as one of Asia's most generous philanthropists, donating over US$2.56 billion as of April 2016[when?] to charity and other various philanthropic causes.[10] Li is often referred to as "Superman" in Hong Kong because of his business prowess.[11][12] Li Ka-shing was born in Chaozhou in Guangdong province, China, in 1928 to Teochew parents. Due 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. In 1950 he started his own company, Cheung Kong Industries.[13] From manufacturing plastics, Li developed his company into a leading real estate investment company in Hong Kong that was listed on the Hong Kong Stock Exchange in 1971. Cheung Kong expanded by acquiring Hutchison Whampoa and Hongkong Electric Holdings Limited in 1979 and 1985 respectively.[14]