Sir Li Ka-shing GBM KBE JP(born 13 June 1928)is a Hong Kong business magnate, investor, and philanthropist. As of June 2019, Li is the 30th richest person in the world, with an estimated net wealth of US$29.4 billion.He is the senior advisor for CK Hutchison Holdings, after he retired from the Chairman of the Board in May 2018 through it, he is the world’s leading port investor, developer, and operator of the largest health and beauty retailer in Asia and Europe.
Li was one of the most influential entrepreneurs in Asia, presiding over a business empire with a diverse portfolio of businesses from a wide array of industries, including transportation, real estate, financial services, retail, and energy and utilities.His conglomerate company Cheung Kong Holdings was influential in many sectors of the Hong Kong economy and made up 4% of the aggregate market capitalisation of the Hong Kong Stock Exchange.
In January 2005, Li announced plans to sell his $1.2 billion CAD stake in the Canadian Imperial Bank of Commerce, with all proceeds going to private charitable foundations established by Li, including the Li Ka Shing Foundation in Hong Kong and the Li Ka Shing (Canada) Foundation based in Toronto, Ontario.Li was the non-executive director of The Hongkong and Shanghai Banking Corporation since 1980 and became Deputy Chairman of the bank in 1985. He was also Deputy Chairman of HSBC Holdings in 1991–1992.
Philanthropic activitiesIn 2011, Horizons Ventures invested in Summly, a website-summarizing app. Notably, the investment made Nick D’Aloisio, Summly’s founder, the world’s youngest person to receive a venture capital investment at just fifteen years old.In 2012, Horizons Ventures invested $2.3 million in Wibbitz, a company that provides a text-to-video technology that can automatically convert any article post or feed on the web into a video in a matter of seconds. In August 2012, Li acquired a stake in Ginger Software Incorporated. In 2013, Horizons Ventures invested in Bitcoin payment company BitPay.
In February 2015, Horizons Ventures participated in a $30 million Series C funding round in Zoom Video Communications.Later in the year, Li participated in a $108 million Series D round in Impossible Foods. In 2016, he continued investments in technology companies and Horizons Ventures led a $55 million Series A round in Blockstream, the leader in blockchain related technologies, and also invested in a startup incubator fund Expa, that works with the founders to build new companies.
Forbes Magazine and the Forbes family honoured Li Ka-shing with the first ever Malcolm S. Forbes Lifetime Achievement Award on 5 September 2006, in Singapore.In spite of his wealth, Li cultivated a reputation for leading a frugal no-frills lifestyle, and was known to wear simple black dress shoes and an inexpensive Seiko wristwatch. He lived in the same house for decades, in what has now become one of the most expensive districts in Hong Kong, Deep Water Bay in Hong Kong Island. Li is also regarded as one of Asia’s most generous philanthropists, donating billions of dollars to charity and other various philanthropic causes, and owning the second largest private foundation in the world after Bill & Melinda Gates Foundation. Li was often referred to as “Superman Li” in Hong Kong because of his business prowess.
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