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Asian Tycoon Li Ka-shing Retires after 68 Years, Victor Li Becomes Chairman

Asian Tycoon Li Ka-shing Retires after 68 Years, Victor Li Becomes Chairman

Asia’s most recognisable business tycoon, and Asia’s richest man for much of last decades, Li Ka-shing, Chairman of CK Hutchison and CK Assets, has announced his retirement (at age 89) after 68 years.  In the latest annual reports of his 2 main companies, CK Hutchison and CK Assets, he announced his retirement and will step from his role as Chairman and Executive Director at the upcoming Annual General Meeting.  The board of CK Hutchison and CK Assets has proposed Li Tzar Kuoi, Victor (his son) to lead the Group respectively, with Li Ka Shing agreeing to remain as Senior Advisor.

” Li Ka-shing Retires after 68 Years at the age of 89 “

Born in 1928, Li Ka-shing left school at 12 in 1940 and move to Hong Kong to avoid the war.  Shortly, his father passed away from tuberculosis and started working in a plastic trading company for almost 16 hours a day before he turn 15.  In 1950, around the age of 21, he founded his business in 1950 and in 1972, listed Cheung Kong (Holdings).  Today his main companies, CK Hutchison and CK Assets, are one of the largest companies in Hong Kong, Asia and the world.  CK Hutchison & subsidiaries alone, employs around 300,000 employees worldwide.  He is one of Asia’s most influential and successful entrepreneur, with business interests in infrastructure, real estate, financial services, retail and technology.  According to Forbes, he has an estimated net worth that exceeds $37 billion.

He has 2 children, Victor Li, who will assume his role as Chairman at CK Hutchison and CK Assets, and Richard Li, who is the Chairman of PCCW, one of Asia’s leading information technology and telecommunications companies.  Li Ka-shing is a high school dropout and is known to wear an inexpensive Seiko watch.

Source: CK HutshisonCK Assets

 

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