We wish Mr Li a happy retirement!
The name Li Ka-shing is a prominent one in Asia. After amassing so much wealth that he is one of Asia’s richest men, Li Ka-shing retires at 89.
“Looking back all these years, it’s my honour to have founded Cheung Kong and to have served society,” Li said in a press conference in Hong Kong.
Li Ka-shing retires: The story behind the billionaire
He was born July 29, 1928 in Chaozhou, a city in Guangdong. Though his father was a school principal, his formal education stopped at high school when the Japanese troops invaded Guangdong.
His family fled from war-torn China for Hong Kong in 1940. Li worked in a factory while caring for his ailing father, who later died from tuberculosis.
By the time he was a teenager, Li was working 16 hours a day at a plastics trading company.
After the war, he started off as a manufacturer of plastic flowers. He was unable to renew the lease of his factory, which is when he decided to buy the property. Thus, began his journey as a property mogul.
“Li’s retirement symbolisess the end of an era,” said Joseph P.H. Fan, a professor at the Chinese University of Hong Kong. “No one can replace Li Ka-shing as the legendary founder of the largest conglomerate in Hong Kong.”
His retirement illustrates his confidence in his son, Fan added.
16-hour workday till the end
Despite his immense wealth, Li does not slack off. He still maintains an intense schedule, working as many as 16 hours daily, seven days a week.
Long after he became a billionaire, Li still wore a simple Seiko watch on his wrist. Only recently did he make a small upgrade to a Citizen watch that costs around $400.
It just goes to show that hard work really does pay off and as much wealth as Li has amassed, he still works hard everyday to ensure his companies do well.
Li Ka-shing retires at 89 and we wish him all the best!
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