What Is Hong Kong Billionaire Li Ka-shing's Net Worth?

What is Li Ka-shing's Net Worth?

Billionaire businessman Li Ka-shing has an estimated net worth of $36 billion as of November 16, according to Forbes. Nicknamed "Superman" for his investing prowess, Ka-shing is one of the 50 richest people on the planet. He is the founder of the Hong Kong-based conglomerate CK Hutchison Holdings, which generated annual revenue of over $33.5 billion in 2022, per Bloomberg. He is also a prominent philanthropist who oversees the Li Ka-shing Foundation, the second-largest private foundation in the world.

Sources of Income

CK Hutchinson Holdings

Ka-shing dropped out of school and started working at the age of 15. He worked 16 hours a day for a plastics trading company and in 1950 he established his own company, Cheong Industries. The company was initially involved in the manufacturing of plastics, but it quickly expanded into real estate investment. By 1972, CK Industries was listed on the Hong Kong Stock Exchange, and throughout the late 70s and 80s, Ka-shing expanded his business by acquiring companies such as Hutchison Whampoa and Hong Kong Electric Holdings Limited. That's how CK Hutchinson Holdings was formed.

Ka-shing expanded his real estate empire around the globe in a number of other industries, such as retail, asset trading, and technology. In 2018, Ka-shing decided to retire after a 70-year-long stint. His $100-billion empire was succeeded by his son Victor.

Victor now heads the conglomerate, which employs over 300,000 people and operates in over 50 nations. Ka-shing remains a senior advisor in the business.

Stakes in Companies

Most of Ka-shing's wealth comes from the stakes held in publicly traded companies. He has major stakes in the real estate developer CK Asset, CK Hutchison Holdings, Canadian oil and gas producer Cenovus Energy, and Zoom Video Communications.

He owns 30% of CK Hutchison, with assets ranging from ports and infrastructure to mobile phone networks. Ka-shing has 34% of CK Asset, which owns his real estate assets. He also owns a 6.7% stake in Zoom Video Communications, which is estimated to be worth billions. As per Bloomberg, his shares are held through several holding companies and trusts.

Real Estate Assets

Some of Ka-shing’s most notable deals include the sale of "The Center," which is the fifth-tallest skyscraper in Hong Kong. He sold the property for $5.15 billion, in the biggest office real estate deal in the Asia-Pacific region.

He also owned the Century Link complex in Shanghai which he sold for $2.95 billion, marking the second-largest real estate deal for a single building, as per Celebrity Net Worth. In 2018, Ka-shing bought a $4.6 billion land parcel after winning a property development contract in Hong Kong. A year later, Ka-shing bought the English brewery company Greene King for $5.5 billion. In 2020, Ka-shing’s company got the approval to begin construction on a $1.26-billion housing development project in London.

Net Worth Over The Years

Personal Life

Li Ka-Shing married Chong Yuet Ming in 1962. The couple has two sons, Victor Li and Richard Li. Chong Yuet Ming died in 1990 reportedly due to an overdose of sleeping pills.

Philanthropy

Ka-shing is the founder of the Li Ka-Shing Foundation, the second-largest private foundation in the world. He had promised to transfer one-third of his assets to the foundation, which he calls his “third son”. The Li Ka Shing Foundation has donated over $3.8 billion to support education and healthcare initiatives, as per Forbes.

FAQs

How old is Li Ka-shing?

Li Ka-shing is 95 years old.

Who is the richest person in Hong Kong?

Li Ka-shing, former chairman of CK Hutchinson Holdings, is the richest person in Hong Kong.

How many children does Li Ka-shing have?

Li Ka-shing has two sons, Richar Li and Victor Li.

What is Li Ka-shing’s net worh?

Li Ka-shing has an estimated net worth of $36 billion as of November 16, according to Forbes.