Hong Kong business icon Li Ka-Shing announces retirement
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Li Ka-Shing, business tycoon and Hong Kong’s richest man, has announced his retirement from conglomerate CK Hutchison Holdings Ltd., He is handing over all corporate responsibilities to his eldest son Victor.
Li, with a net worth of $35.4 billion, has dominated Hong Kong’s business landscape for over two decades in areas including retail, telecommunications and real estate. He was ranked No. 23 on Forbes magazine’s list of world billionaires in 2018.
CK Hutchison Holdings will now be headed by Victor Li, who was chosen as his father’s successor in 2012. The company reported attributable profits of $4.48 billion in 2017, making it the largest nonfinancial Hong Kong company listed on the Hang Seng.
Li now intends to serve as senior adviser to the company and develop his charitable organisation, the Li Ka-Shing Foundation.
Questions & Answers
Q.What is Li Ka-Shing’s new role within CK Hutchison Holdings after his retirement?
What is Li Ka-Shing’s new role within CK Hutchison Holdings after his retirement?
Following his retirement, Li Ka-Shing plans to serve as a senior adviser to CK Hutchison Holdings. He will also focus on developing his charitable organisation, the Li Ka-Shing Foundation.
Q.What is the net worth of Li Ka-Shing?
What is the net worth of Li Ka-Shing?
Li Ka-Shing’s net worth is stated as $35.4 billion. He was ranked as the 23rd wealthiest person globally on Forbes magazine's 2018 list of world billionaires.
Q.When was Victor Li designated as his father’s successor for CK Hutchison Holdings?
When was Victor Li designated as his father’s successor for CK Hutchison Holdings?
Victor Li was chosen as his father's successor for CK Hutchison Holdings in 2012. He will now take over all corporate responsibilities for the conglomerate.
Q.How did CK Hutchison Holdings perform financially in the year 2017?
How did CK Hutchison Holdings perform financially in the year 2017?
CK Hutchison Holdings reported attributable profits of $4.48 billion in 2017. This performance made it the largest nonfinancial Hong Kong company listed on the Hang Seng.
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