Fourteenth Spot: Li Ka-Shing
Li Ka-Shing (pinyin: Li Jiachéng, Jyutping:
Lei5 Gaa1-sing4, born July 29, 1928), is the wealthiest person
in Hong Kong and East Asia. According to Forbes Magazine, he is
also the richest person of Chinese descent in the world.
Presently, he is the Chairman of Cheung Kong Holdings, although
his fortune has suffered a $10 billion drop during 2008 thanks
to the turbulent financial markets.
A Harvard Business School article summarizes Li's
career viz: "From his humble beginnings in China as a teacher’s
son, a refugee, and later as a salesman,
Fortune |
Business |
Country |
Status |
16.2 Billion |
Varied |
Hong Kong |
Widowed, 2 children |
|
Li provides a lesson in integrity and adaptability.
Through hard work, and a reputation for remaining true
to his internal moral compass, he was able to build a business
empire that includes: banking, construction, real estate,
plastics, cellular phones, satellite television, cement
production, retail outlets (pharmacies and supermarkets),
hotels, domestic transportation (sky train), airports, electric
power, steel production, ports, and shipping."
|
Li Ka-shing was born in Chaozhou in the
Guangdong Province, China in 1928. In 1940 the Li family
fled to Hong Kong as the Japanese invaded China. Li's
family stayed at the home of his wealthy uncle. The arrogance
of Li's uncle and immense wealth ignited Li's determination
to make a place for himself in the world. Not able to
find work on his own, the young Li reluctantly accepted
his first job selling watches at his uncle's store, Li's
intensity and intelligence soon made him the best salesman
in the shop at age 17, and general manager at age 19.
Soon after, Li jumped to another company to sell metal
wares door to door. He worked 16 hour days: during the
day, he would visit customers and close deals; at night
he would be at the factory, following up on orders and
learning the manufacturing business. His commission paycheck
as a salesman is said to be seven times the amount the
second best salesman took home. Li, determined to do business
with the powerful British, found a private tutor to teach
him English every night.
Li's businesses are dominant in every facet of life in
Hong Kong, from electricity to telecom, from real estate
to retail, from shipping to the Internet. It is often
said that for every dollar spent in Hong Kong, 5 cents
goes into the pocket of Li Ka-shing. The Cheung Kong Group's
market capitalization is HK$766 billion ($100 billion
USD) [as of 30-SEP-2005] (This includes double counting
- eg. Cheung Keung has a market cap of HKD 195 billion
[as on 15-Jan-06] and Hutchison Whampoa has a market cap
of HKD 338 billion [as of 15-Jan-06] but actually HKD
170 billion of Cheung Keung market cap would have been
due to its holding of 49.9% of Hutchison Whampoa Ltd.
). The Group operates in 51 countries and employs over
210,000 staff worldwide. (wiki)
|
|
|
