| Net Worth | $38 Billion |
| Birthdate | Jul 29, 1928 |
| Profession | Businessperson |
| Nationality | Canada |
What is Li Ka-shing Net Worth?
Li Ka-shing from Hong Kong, who raised into the world as the titan of business and who has an enormous net worth that has $38 billion. Currently, one is considered among the 40 richest men on the face of the earth. Most of Ka-Shing’s enormous fortune has been from his large stakes in some of the businesses, the most notably of which include Cheung Kong Property Holdings of the giant in real estate, Husky Energy of Canadian energy powerhouse, and CK Hutchison Holdings of Hong Kong conglomerate. Notably, CK Hutchison commands an impressive annual revenue exceeding $36 billion.
Beyond his business interests, Li is seen as a very active philanthropist who runs the second-largest private foundation in the world, after the Bill & Melinda Gates Foundation.
In a strategic move of 2015, he arranged a reorganization of his corporate holdings and consolidated a substantial 30% ownership in both CK Hutchison and Cheung Kong Property. The portfolio also boasts of other notable entities such as Cheung Kong Infrastructure and Hutchison Telecom Hong Kong.
Li’s foresight in investment is well placed in the early juggernaut of video conferencing, Zoom, where he commands a cool 6.6% ownership of the platform. Despite the enormous wealth, Li Ka-Shing kept firm on the ground with a daily demeanor, always in plain, ordinary suits coupled with a humble Seiko timepiece that tells exactly the time—one proof of humility amidst great success.
Early Life
He was born on June 13, 1928, in Chao’an, Chaozhou, within the Guangdong Province of China. With that entrusted entrepreneurial spirit and much resilience, he seemed to have gained exposure to the true His family moving to Hong Kong from the troubled Sino-Japanese war as a refugee became the stone to form his indomitable work ethic and determination. Unfortunately, his father died of tuberculosis, which made him work from as early as when he was 15 years old to be able to help support the family.
Beginning his professional career, he toiled away at grueling 16-hour workdays for a plastics trading company. Fuelled with ambition and a picture of success, he eventually had the temerity to take the plunge and start off on his own in 1950.
Originally geared towards the manufacture of plastics, Li’s enterprise, Cheung Kong Industries, soon diversified its portfolio and plunged into more lucrative waters: real estate investments. By 1972, the strategy had paid off, with CK Industries being listed on the prestigious Hong Kong Stock Exchange.
The next decades were washed with astute leadership from Li, meaning acumen in seizing opportunities to push his empire to greater heights. With his judicious acumen in acquisitions, notably among them was Hutchison Whcompany Ltd and HongKong Electric Holdings Limited, which expanded his business footprint and had him consolidated status as a titan of industry.
Li Ka-shing Career
He started his career in the manufacturing industry with a revolutionary technique for the manufacturing process of realistic, alive-looking plastic flowers. His innovation drove his business to be the first one across Asia.
Seeing the mass exodus from Hong Kong, Li saw a real estate opportunity. He got property from some fleeing for amazingly cheap prices, knowing the city would revert to many people leaving there. This was the kickoff to his prospering real estate company. In 1997, more specifically, Li was farsighted enough to transfer the head office of his business to Bermuda, as Hong Kong was about to experience the transition from the sovereign entity to Mainland China.
In the years that followed, the Li real estate empire extended around the world and expanded to so many other areas, from retail to asset trading, and even technology. Then, in 2018, after an exemplary career for 70 years in business, he finally decided to quit, transferring the $100 billion empire to his son, Victor. Although stepping down from the helm, Li would continue being actively involved in the business as a Senior Advisor, offering his wealth of experience and insight.
Real Estate Deals
Throughout his years, Li has remained active in a number of high-profile real estate deals. Among his most celebrated transactions was the sale of Hong Kong’s fifth-tallest skyscraper, “The Center.” The total transaction, a whopping amount of $5.15 billion, is considered the largest deal ever to be transacted in terms of office real estate within the Asia-Pacific area. Li later sold the whole of the Century Link complex in Shanghai for $2.95 billion. This would be the second-biggest sum in the world for a single building.
Last year, Ka-shing threw some $4.6 billion at his first land acquisition in two years, seizing the opportunity following a successful bid for a property development contract in Hong Kong. Notably, he had bought a piece of residential land in Hong Kong for $248 million back in 2016. A time that buying land looked to dampen, even as interest in mainland China sent real estate prices to the skies.
In 2019, he acquired the English brewery company Green King for $5.5 billion. The deal was followed with great interest, mostly in the context of Brexit. Although the move is likely to raise some eyebrows among observers, Ka-shing’s reputation with pointed instincts and timing would seem to mean some calculated strategy is behind the purchase. With good possibility, in this larger vision, lies Greene King, revered to have a lot of pubs around England.
Last year, Li’s company was announced to have secured approval for a $1.26-billion housing development in London. That includes 3,500 homes in London, a former royal dockyard Convoys Wharf is located on. It should be noted that Ka-shing bought the site for £100 million 15 years ago, having faced large obstacles to obtain approval for the ambitious project.
Controversy
In 1996, Cheung “Big Spender” Tze-keung, one of the most famous Hong Kong gangsters, kidnapped Victor Li, son to the business magnate Li Ka-shing. The amount he asked for in ransom was a staggering figure: $1 billion HKD. Not involving the police, Li agreed to give them what they demanded: to meet him face-to-face. However, the incident did not take the normal course of investigating affairs, as mainland Chinese authorities superseded and took over the case. Cheung was later arrested by Mainland Chinese law enforcers and later executed. Some questions were raised, for under the legal system of Hong Kong, the death sentence was not permitted. It wondered if Li had intentionally let Mainland authorities to intervene.
Li’s relationship with Mainland Chinese political authorities has been marked by occasional tension over the years.
Despite his long-standing pro-Beijing stance, in 2019-20 during the Hong Kong protests, Li called for their peaceful resolution and advised that the government should engage the protesters without using force, necessarily. However, this move has been criticized by the Chinese state-controlled media, citing divergence of views. In 2015, Chinese media questioned Li’s divestment of prime properties in Beijing and Shanghai as a strategic shift to western markets. Accusations against him increased, with some even labeling his actions “immoral” and questioning his unfaithfulness.
Li Ka-shing Net Worth Details
The bulk of Li Ka-Shing’s fortune stems from his investments in various sectors, primarily in mining. His portfolio includes big positions in famous companies such as the real estate giant Cheung Kong Property Holdings, Canadian energy titan Husky Energy, and CK Hutchinson Holdings, a conglomerate. In 2015, he went through major corporate restructuring, which positioned Li to have 30% in CK Hutchinson and Cheung Kong Property. Also, Li is an investor with an interest in Cheung Kong Infrastructure and Hutchinson Telecom Hong Kong.
Besides traditional investments, Li displayed foresight in being one of the early backers of the video conferencing powerhouse, Zoom. His stake in Zoom alone is worth about $6.5 billion, further cementing his perception of a savvy investor who scouts around for emerging technologies and good bets in the mining industry.
FAQ about Li Ka-shing Net Worth
- What is Li Ka-shing net worth and how does it compare globally?
- Li Ka-shing net worth stands at an impressive $38 billion, placing him among the top 40 wealthiest individuals worldwide.
- How did Li Ka-shing amass such wealth?
- Li’s wealth primarily originates from his substantial stakes in various enterprises, notably in real estate, energy, and conglomerates such as Cheung Kong Property Holdings, Husky Energy, and CK Hutchison Holdings.
- What philanthropic endeavors is Li Ka-shing involved in?
- Li is renowned for his philanthropy, overseeing the operations of the second-largest private foundation globally. He has contributed significantly to various charitable causes, aligning with his commitment to social responsibility.
- Can you elaborate on Li Ka-shing’s strategic investments, particularly in Zoom?
- Li demonstrated his foresight by investing early in Zoom, a video conferencing platform. His holdings in Zoom alone are valued at approximately $6.5 billion, showcasing his acumen for identifying promising ventures in emerging technologies.
- What significant real estate deals has Li Ka-shing been involved in?
- Li has orchestrated several notable real estate transactions, including the sale of “The Center” in Hong Kong and the acquisition of the Century Link complex in Shanghai. His ventures in real estate span across global markets, reflecting his strategic vision and investment prowess.
- How has Li Ka-shing’s career evolved over the years?
- Li’s entrepreneurial journey began in manufacturing, where he pioneered innovative methods in plastics production. He later ventured into real estate, successfully diversifying his business portfolio and expanding his empire across various sectors globally.
Li Ka-shing Social Media Account
Quick Summary
- Li Ka-shing, who was born on July 29, 1928, in Chaozhou, China, is known for having a net worth of $38 billion accumulated from real estate, energy, and conglomerates through strategic investments. Notable holdings include Cheung Kong Property Holdings, Husky Energy, and CK Hutchinson Holdings, with major restructuring in 2015 consolidating his ownership in the key entities of CK Hutchinson and Cheung Kong Property. There is no doubt that, in spite of being at the top with his immense wealth, Li retained standing with a very modest way of living. While his philanthropy, including looking after the world’s largest private foundation, reflects his commitment to society.
- Li started his entrepreneurial journey with manufacturing, and then enlarged his activities into real estate and many other sectors through the years, with marked success in big deals like the sale of “The Center” skyscraper in Hong Kong and the acquisition of Greene King brewery. He evidences foresight in his investment actions, being among the very early backers of Zoom, which proves his acumen of pointing at promising ventures. Other than entrepreneurial successes, Li remains committed to his philanthropic nature, with one of the world’s largest private foundations and inbred commitment to return something back to society.
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