Li Ka Shing net worth is a topic of fascination for many. As one of the world’s wealthiest CEOs, his financial journey is nothing short of remarkable.
Join WorldofCEOs to delve into the wealth and career of this business titan.
Quick Facts
| FACT | DETAIL |
|---|---|
| Real Name | Li Ka-shing |
| Popular Name | Li Ka-shing |
| Gender | Male |
| Birth Date | July 29, 1928 |
| Age | 95 |
| Parents | Li Yun-ching (Father), Cheung Bik-chin (Mother) |
| Siblings | Li So-wah, Li Ka-suen, Li Ka-chiu |
| Birthplace | Chao’an, Chaozhou, Guangdong, China |
| Nationality | Hong Kong, Canada |
| Ethnicity | Chinese |
| Education | Left school at age 15 |
| Marital Status | Widowed |
| Sexual Orientation | Straight |
| Wife/Spouse | Chong Yuet-ming (m. 1962; died 1990) |
| Children | Victor Li, Richard Li |
| Dating | N/A |
| Net Worth | $35.4 (estimated) |
| Source of Wealth | Real estate, Investments, Retail, Energy |
| Height | N/A |
What is the Net Worth Of Li Ka-shing in 2024?
Li Ka-shing’s net worth in 2024 is estimated to be $35.4 billion. This places him among the richest individuals globally. In comparison:
- Henry Cheng & family: $28.9 billion (Chow Tai Fook Jewellery, New World Development)
- Lee siblings: $19.3 billion (Sun Hung Kai Properties)
- Peter Woo: $16.9 billion (Wheelock & Co.)
- Kwong Siu-ling
- Joseph Lau
- Lui Che Woo
- Cheng Yu-tung family
- Cheng Kar-shun
These comparisons highlight Li Ka-shing’s prominence and financial strength.
Li Ka-shing Finance Overview
Early Business Ventures and Success
Li Ka-shing‘s financial journey began with the founding of Cheung Kong Industries in 1950. This was his entry into the world of entrepreneurship. Initially focusing on plastics manufacturing, Li strategically transitioned to real estate as he recognized its potential for wealth creation.
His astute move into the property domain laid the foundation for his immense fortune.
Expansion into Real Estate
Li’s belief in the long-term appreciation of property value led to the acquisition of key real estate assets during the 1967 Hong Kong riots.
His decisive purchases during times of uncertainty, such as The Center and the Century Link complex, allowed him to capitalize on future market rebounds.
The listing of Cheung Kong Holdings on the Hong Kong Stock Exchange in 1972 further accelerated his wealth accumulation.
Diversification Across Multiple Sectors
Beyond real estate, Li Ka-shing’s investments span various sectors including transportation, retail, energy, and utilities.
His empire under CK Hutchison Holdings includes over 15,000 retail stores operated by the A.S. Watson Group.
Notable sales, such as divesting Orange to Mannesmann Group and selling a stake in Hutchison’s ports business to PSA Corp., exemplify his skill in asset trading.
Strategic Acquisitions and Global Presence
Acquiring Hutchison Whampoa in 1979 was a pivotal moment. This acquisition significantly bolstered his portfolio and global reach.
Under his guidance, CK Hutchison Holdings now holds substantial retail presence through brands like Superdrug and Kruidvat. This strategic growth ensured a diverse and resilient financial empire.
Investment in Technology and Internet Startups
Li’s foresight into the potential of technology led him to invest via Horizons Ventures in companies like Facebook, Spotify, and Zoom Video Communications.
These investments didn’t just yield high returns but also positioned him as a notable figure in tech innovation. Backing innovative firms like Summly and Wibbitz also underscored his commitment to fostering new technologies.
Philanthropy and its Influence on Reputation
Li’s philanthropic endeavors through the Li Ka Shing Foundation have also reinforced his legacy. His extensive donations to institutions like Shantou University, University of California, Berkeley, and UCSF highlight his commitment to education and medical research.
These contributions have had a lasting impact on communities globally.
The Role of Family and Succession Planning
Upon retiring in 2018, Li handed over the reins of his empire to his son, Victor Li.
This transition ensures continuity and stability, with the younger Li taking on the mantle of Chairman at both CK Hutchison Holdings and CK Asset Holdings.
The family’s involvement ensures the preservation and expansion of the business legacy established by Li Ka-shing.
FAQs about Li Ka Shing
What industries has Li Ka-shing invested in?
He has invested in a variety of industries including real estate, telecommunications, retail, energy, and technology. His diverse portfolio reflects his strategic approach to wealth management.
How did Li Ka-shing start his business?
Li started his business career in 1950 with the founding of Cheung Kong Industries, focusing initially on plastics manufacturing before transitioning to real estate, realizing the potential for substantial growth in this sector.
What are some notable subsidiaries of CK Hutchison Holdings?
Notable subsidiaries include the A.S. Watson Group, which operates retail brands like Superdrug and Kruidvat in Europe and Watson’s in Asia. The group also has interests in ports, energy, and telecommunications.
What philanthropic contributions has Li made?
Li has made significant donations to educational and medical institutions globally, including Shantou University, the University of Hong Kong, and the University of California, Berkeley.
His Li Ka Shing Foundation has invested over HK$30 billion in various charitable projects.
Who succeeded Li as the head of his business empire?
His son, Victor Li, succeeded him. Victor now serves as Chairman of both CK Hutchison Holdings and CK Asset Holdings, ensuring the continuity of his father’s business legacy.
How has Li’s investment in technology influenced his wealth?
Li’s significant investments in technology companies like Facebook, Spotify, and Zoom have greatly influenced his wealth, driving substantial returns and positioning him as a forward-thinking investor.
What was Li’s role in Hutchison Whampoa’s expansion?
Li’s acquisition of Hutchison Whampoa in 1979 marked a pivotal moment in his career, significantly expanding his portfolio and establishing a global presence in various industries, including retail and ports.
How did Li respond to the 1967 Hong Kong riots in terms of business strategy?
During the 1967 Hong Kong riots, Li capitalized on the situation by purchasing land at low prices from fleeing residents. This strategic move allowed him to acquire valuable properties and later profit significantly as the market rebounded.
How did Li Ka-shing’s early life influence his business acumen?
Li’s early life, characterized by hardship and the need to leave school at 15 to support his family, instilled in him a strong work ethic and resilience. These qualities were instrumental in shaping his business acumen and success.
What is the significance of The Center and Century Link complex in Li’s portfolio?
The Center and Century Link complex are significant properties in Li’s portfolio, showcasing his strategic investments in prime real estate that have yielded substantial returns and cemented his status as a leading property developer.
Conclusion
In conclusion, Li Ka Shing’s net worth highlights his status as a top billionaire in China. Share your thoughts, leave a comment, or read more about other influential CEOs on worldofCEOs.com.
