A dance group composed of 45 children from Shanghai received a generous treat from billionaire Li Ka-Shing after bumping into him at an airport in Japan.
Members of the Little Pigeon Dancing Group and their teachers were on their way to a dance competition when they met Hong Kong’s richest man at New Chitose Airport in Hokkaido last week, reports South China Morning Post.
Hong Kong’s Richest Man Donates $57.6 Million to University So Students Get Free Tuition for 4 Years
Li Ka-shing, one of the world’s top billionaires and Hong Kong’s richest man, just announced that the foundation named after himself is set to make generous annual donations that will cover students’ tuition fees over the next four years.
In a Weibo post on Sunday, Shantou University in Guangdong Province, China announced that Li, through his Li Ka-shing Foundation, is set to provide up to 100 million yuan ($14.4 million) annual donations to the university that will fully cover tuition fees of undergrads from 2019 to 2022, according to Shanghaiist.
The CEO of popular gaming accessory manufacturer Razer is getting a billion-dollar boost in net worth after receiving financial support from Hong Kong’s richest man, Li Ka-Shing. Singapore’s Tan Min-Liang offered a large portion of his company’s shares to their Hong Kong IPO.
Razer’s investors now include some of the biggest names in Asia such as Indonesian tobacco tycoon Budi Hartono, Chinese philanthropist Li Ka-Shing and Singapore’s Temasek Holdings. According to Today, Tan’s latest company fund-raising earned the Razer CEO a net worth of over $1.2 billion.
Hong Kong billionaire Li Ka-shing will reportedly be stepping down as chairman of his global conglomerate CK Hutchison by next year.
Li, 88, told associates of his plans without giving a specific date, the Wall Street Journal reported. As he said in a Bloomberg interview last year, “I could retire today if I wanted to, in the next five minutes or whenever.”
Timepieces have always been a status symbol for many. For the ultra wealthy, it is common to find them wearing expensive watches worth more than what most people see in a lifetime, but that’s not always the case.
One might expect that Li Ka-Shing, Hong Kong’s wealthiest man with an estimated net worth of $28 billion, to wear a watch worth something in the 5 or 6-digit range, but the 87-year-old billionaire is full of surprises.
A recent report from Wealth-X, an ultra-high net worth consultancy firm, revealed the Chinese zodiac years the top 10 billionaires of Asia were born in, and the results show it’s good to be a dragon.
The top three billionaires on the list, all of whom come from China, were all born in the year of the dragon. At the top is self-made billionaire and chairman of Hutchison, Whampoa Li Ka-Shing, born in 1928, with an estimated net worth of $27.7 billion. Self-made real-estate magnate Lee Shau Kee, who was also born in 1928, comes in second with a net worth of $26 billion. Alibaba founder Jack Ma, who was born in 1964, rounds out the top three with his net worth of $24.6 billion.
This is the story of Li Kai-Shing.
Born in Guangdong province, China, Li Kai-Shing lost his father at age 14 to Tuberculosis. Being the man of the house now, he was forced to leave school to work at a plastics factory to support his family. The family was so poor that he had to sell his dead father’s clothes in order to get cash to pay for food.
Working at the factory was tough, while most of his peers played games and went to school like normal children, he had to work 16-hour days making plastic watch bands.The combination of suffering through illness, poverty, loss, and grueling work at such a young age had a profound impact on Li. It gave him the drive to do whatever it took to succeed in life. At age 22, Li had enough money to quit his job and started his own company that made plastic toys.“I needed to save every penny…I needed to be strong, and needed to find some way to secure a future. That’s why I am always conservative. I never forget to maintain stability while advancing, and I never forget to advance while maintaining stability.”Li has always been an avid reader of trade publications and business news. Through his research, he found out that there was a huge demand for plastic flowers in Italy. Realizing the opportunity, he shifted his companies focus on producing plastic flowers instead. A few years later, Li’s company became the largest supplier of plastic flowers in Asia and made a fortune selling them In 1958, Li was hit with a setback, he was unable to renew the lease for the company and was forced to buy land instead. This however, proved to be a blessing in disguise, as about a decade later, Hong Kong real estate plummeted due to political riots. Li saw an opportunity here, believing that the riots were only temporary, and that prices of real estate would rise eventually. With that, he bought parcels of land at cheap prices. He called his real estate company Cheung Kong.
Once the market recovered, real estate prices soared and Li started making a ton of money. Cheung Kong Holdings was publicly listed in Hong Kong Stock Exchange in 1972. By 1987, Li had worked his way to becoming a billionaire.
Li Ka-Shing is the richest man in Hong Kong with a net worth of $28.8 billion. From high school dropout to self-made billionaire, Li came from very humble beginnings when he was growing up in China. He wrote an article a while back outlining a plan that anyone can follow to be able to buy a car and a house within five years; something like “The Art of War” for how entrepreneurs and success seekers should act. That article was recently translated to English by Edmund Ng of CeoConnectz. Check out and study these eight points from Li Ka-Shing to master the art of success.
1. Buy lunch for people more important than you.