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Hong Kong Passes Baton to Next Generation of Billionaires

Stanley Ho, Lee Shau-kee and Li Ka-shing (from left to right) represent the first generation of Hong Kong’s business tycoons, who accumulated massive wealth during British rule and after the Chinese mainland’s economy opened up. However, as times change and competition from the Chinese mainland picks up, Hong Kong’s economy is no longer dominated by tycoons or the businesses they control. Photo: Visual China
Stanley Ho, Lee Shau-kee and Li Ka-shing (from left to right) represent the first generation of Hong Kong’s business tycoons, who accumulated massive wealth during British rule and after the Chinese mainland’s economy opened up. However, as times change and competition from the Chinese mainland picks up, Hong Kong’s economy is no longer dominated by tycoons or the businesses they control. Photo: Visual China

(Hong Kong) — “I’m in good health. If I decide to retire, there will definitely be an announcement,” Li Ka-shing, chairman of Hong Kong-based conglomerate CK Hutchison Holdings Ltd., told reporters on the driveway of his seaside residence on June 21.

Li was responding to a recent Wall Street Journal article that said the 89-year-old tycoon would retire this year.

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