Li Ka-shing's Rags-To-Riches Story: How Hong Kong Billionaire Made His Fortune

Li Ka-shing’s net worth is at $26.6 billion. Once named the richest man in Asia, this is how he built his massive fortune.

Li is considered Asia’s version of Warren Buffet. Like any other success stories of billionaires, his life had a rough start. Forced to find work and help his family who migrated to Hong Kong from Southern China, he labored in a plastic factory at 16 years old. It was where he would learn life lessons that would become fundamental in his business philosophies later on.

He used to be the chairman of CK Hutchison Holdings and CK Asset Holdings, per Forbes. But now his son Victor Li Tzar-kuoi has taken over the company. The patriarch never finished high school but what he lacked in formal education, he compensated through hard work. Working at an early age gave him more time to learn the intricacies of the plastics factory and he was soon promoted after two years. He repaid the trust by working almost 24/7.

By age 22, he already had his own factory, Cheung Kong Industries. In 1969, Hasbro collaborated with Li’s plastic factory to produce G.I. Joe dolls that would be exported in the U.S. One of his guiding principles in business is that he always keeps his word no matter what. He honors verbal agreements more than signed documents. The loyalty and willingness to learn and adapt to changing times enabled the Chao'an, Chaozhou native’s small business to expand into an empire.

Aside from plastic factory, Li is also a major player in ports, telecommunications and energy industry. Although it might seem that the Senior Advisor of CK Asset Holdings is the typical traditional entrepreneur, the opposite is true. He is among the earliest investors in tech startups such as Spotify and Facebook. In a report from Business Insider, he likes tech that is “disruptive” and can be game changers.

The 92-year-old has been busy helping out since 2018. The Li Ka Shing Foundation has given away at least $3.3 billion. In 2019, the foundation pledged to cover the tuition of incoming freshmen at Shantou University for up to five years. However, the recent happenings in Hong Kong also made a dent in his businesses.

In 2019, the streets of Hong Kong were occupied by rallyists who fought against an extradition bill, which was seen as oppressive and mainly favored China. The tourism industry was heavily affected due to the unrest, which consequently affected hotels and restaurants. It was estimated that Li lost around $3 billion in that same span.

Now, with the effects of the pandemic still being felt around the world, real estate developers are feeling the hardships that go with it. According to Mingtiandi, Victor Li Tzar-kuoi has claimed that the company’s finances are still healthy but announced postponement of some projects.