Li-Ka Shing is a Chinese billionaire with a net worth of $12 billion.
Now he is ranked No. 11 as per Forbes latest 2020 list.
Sir Li Ka-Shing founded Hutchison Whampoa Limited (HWL) in 1966. Later he became the chairman and CEO of the company and in 2008 he became the chairman of CK Hutchison Holdings Limited.
He is one of the wealthiest men in the world, and he is also the founder of the Li Ka-Shing Foundation.
Early Life
He was born in Chaozhou (长洲), China on 29th of July 1928. His family was of modest means, and his father headed a local primary school.
The family ended up in Hong Kong as the Japanese invaded China. They ended up moving to Hong Kong and found great success.
Ka-Shing’s father suffered from a tuberculosis disease and died a painful death when the young Ka-Shing was 15.
Career
Li was inspired by a Chinese proverb “If you can’t be the first, be the best”, so he set up a company, in 1950, selling cheap plastic flowers, initially supplying only Hong Kong markets.
After an eight-year wait, Hong Kong opened their doors to those who fled from mainland China.
Li believed that the political crisis would be temporary. He also thought that real estate would rise in price and he bought land from the people who were fleeing at low prices.
He was a visionary leader in the development of real estate in Hong Kong and was the driving force behind Hong Kong’s massive property boom of the 1970s. He was also the first Hong Kong billionaire to own a yacht, called the ‘Everest III’, in 1976.
The company made huge profits and in 1984, the company moved its legal domicile to another British overseas territory.
Since Li-Ka Shing’s net worth increased by over $11.3Billion in the last 12 months, it is expected that Li-Ka Shing has a net worth over $32.5BN by the end of the year.
As of 2022, Li-Ka Shing’s net worth is estimated to be over a billion dollars.
Highlights
Li Ka-Shing is a billionaire businessman from Hong Kong. He founded Cheung Kong Holdings, the second largest conglomerate in the world.
He is also a major shareholder of Alibaba Group.
Favorite Quotes From Li-Ka Shing
In a way, the key to success is being passionate about what you’re doing. The quality of your life and your life’s work are in your own hands. All the things in life that seem impossible can be achieved if you are passionate about it and apply yourself.
“I was very small then, and not many people knew my name.”
[Source]: The Entrepreneur,“How I Started my Business With $50,000”, Times of India,
November 1, 1951.
“Doing business may be tough, but I am willing to learn, to innovate, and to work hard, which are the reasons why my business can continue to grow. We focus on our core competencies while looking for new areas for expansion. New businesses sometimes fail, and sometimes succeed. But the ones that succeed can be very profitable. This has been my experience. Setbacks and difficulties are ways to build character” (quote from the book “Good to Great”).
The following is an excerpt from the book that will help you improve the quality of your writing and communication skills.
I will never forget the misery of the war. No matter how much I achieved, I will never forget the misery of the war. All my children and grandchildren will never understand the true meaning of the war. You are all my children and grandchildren. No matter what I achieve, I will always remember the misery of war. No matter how much I achieve, I will never forget the true meaning of the war. All my children and grandchildren will never understand the true meaning of the war. You are all my children and grandchildren.
3 Rules for Success in Business from Li-Ka Shing
When starting out in business, remember the importance of having a strong balance sheet, and be willing to build businesses in sectors the world is looking for.
1. Be prepared
2. Vision is our greatest strength
Vision is perhaps our greatest weakness. It’s a lot like a magnifying glass. Too much light and you burn the lens out of your eye; too little and you see nothing at all. The trick is to use it to light a path ahead or at least to look back where we have been.
3. Understand your business
You must know your business like the back of your hand. If you do not, your company will die and disappear.
Summary
Li-Ka Shing is the richest man in China, and his company has influenced businessmen and entrepreneurs all over the globe.
This is the last paragraph.
Since Li-Ka Shing’s net worth increased by over $11.3Billion in the last 12 months, it is expected that Li-Ka Shing has a net worth over $32.5BN by the end of the year.
As of 2022, Li-Ka Shing’s net worth is estimated to be over a billion dollars.