Who is Victor Li, Li Ka-shing’s Successor?
As Hong Kong’s richest man Li Ka-shing retires after decades of influence over some of the city’s largest companies, eyes are turning to his successor and eldest son, who has long avoided the limelight.
Victor Li, who will take over his father’s position as chairman of CK Hutchison Holdings Ltd., began working for the elder Li’s businesses in 1985, when he was 21 years old and fresh out of Stanford University.
In recent years, he has held multiple roles at the same time. At the time of the elder Li’s retirement announcement, Victor Li was simultaneously chairman of CK Infrastructure Holdings Ltd., which he led during its 1996 listing, and associate director, general manager, and vice chairman of CK Hutchison Holdings Ltd., among other positions within the Li business empire.
But most people in Hong Kong know Victor Li for the time he was kidnapped by Hong Kong gang leader Cheung Tze-keung in May 1996. Li was abducted while driving home from work, and only released after his father paid a ransom of HK$1.38 billion (about $178.4 million at the time).
Industry insiders and long-time observers of the Lis seem to agree that Li Ka-shing will be leaving his business in capable hands.
Allan Zeman, Hong Kong nightlife magnate and a close friend of the Li family, told Caixin that Victor Li “is a very smart boy. And he’s very focused — he knows what he wants to do.”
“Li has prepared his successor Victor Li for several decades since a young age,” Joseph Fan, a professor at the Chinese University of Hong Kong who studies the city’s business elite, told Caixin.
“In the past 20 years, Li trained Victor in overseas projects and later put him in charge,” Fan said, adding that Li’s recent “diversification and relocation of tangible assets to Western Europe and other developed markets is part of the long-term succession plan, considering Victor’s comparative advantage in developed markets over emerging markets such as China.”
Contact reporter Teng Jing Xuan (firstname.lastname@example.org)
May 29 18:23
May 29 18:04
May 29 12:40
May 28 16:02
May 28 12:52
May 28 09:10
May 27 16:43
May 27 13:27
May 27 12:54
May 26 17:38
May 26 17:03
May 26 12:26
May 26 10:44
May 26 03:26
May 25 17:58
- 1China’s ‘Bat Woman’ Warns Coronavirus Is ‘Just Tip of the Iceberg’
- 2Update: Mass Testing in Wuhan Uncovers Over 200 Asymptomatic Covid-19 Cases
- 3Flying to China Still a Challenge as Authorities Extend Restrictions
- 4Washington Pressures China to Let U.S. Airlines Come Back
- 5China Announces $14 Billion for Intercity, High-Speed Rail Projects
- 1Power To The People: Pintec Serves A Booming Consumer Class
- 2Largest hotel group in Europe accepts UnionPay
- 3UnionPay mobile QuickPass debuts in Hong Kong
- 4UnionPay International launches premium catering privilege U Dining Collection
- 5UnionPay International’s U Plan has covered over 1600 stores overseas