Li Ka-shing Net Worth (Updated 2024)

What is Li Ka-shing’s Net Worth?

Li Ka-shing is a Hong Kong business magnate, investor, and philanthropist. As of 2024, his net worth is estimated to be around $36.9 billion, making him the richest person in Hong Kong and one of the wealthiest in Asia.

Despite a 7% decline from the previous year due to factors like a sluggish property market in Hong Kong, Li maintained his position as the city’s wealthiest individual on Forbes’ 2024 list of Hong Kong’s 50 richest people. His net worth peaked at around $39 billion in 2023.

The vast majority of Li’s fortune is derived from his business empire which includes:

  • CK Hutchison Holdings – A multinational conglomerate with interests in ports, retail, energy, and telecommunications across over 50 countries.
  • CK Asset Holdings – A leading property investment firm in Hong Kong and mainland China.

Li controls these companies through his 30% ownership stake in CK Hutchison. He stepped down as chairman of both firms in 2018 at age 89, handing over leadership to his eldest son Victor Li while remaining as a senior advisor.

In addition to his core business holdings, Li has made lucrative investments over the years through his private investment vehicle Horizons Ventures, co-founded with Solina Chau. Horizons has backed major tech startups like Facebook, Spotify, Zoom and more recently Celsius Holdings.

Li is renowned for his decades-long philanthropic efforts through the Li Ka Shing Foundation, to which he has pledged one-third of his assets. The foundation has donated over $4 billion to various causes globally, with a focus on education, medical services and disaster relief.

Here’s the breakdown of Li Ka-shing’s net worth:

Name:

Li Ka-shing

Net Worth:

$36.9 Billion

Date of Birth:

Jul 29, 1928

Profession:

Entrepreneur, Businessperson, Investor

If you’re curious about how we estimate a celebrity’s net worth, you can check out our methodology here.

Li Ka-shing

Early Life

Li Ka-shing was born on July 29, 1928 in Chaozhou, Guangdong Province, China to a family of modest means. His father was a primary school teacher. 7 In 1940, when Li was just 12 years old, his family fled to Hong Kong as refugees amid the Sino-Japanese War. 11 Tragically, his father passed away from tuberculosis just a few years later, forcing the young Li to drop out of school at age 15 to support his family.

He took on various odd jobs, working grueling 16-hour days in a plastics trading company. This difficult early experience instilled in Li a strong work ethic and drive to succeed. 11 Despite the hardships, Li was determined to create a better life for himself and his family through entrepreneurship.

Career

In 1950, at just 22 years old and with $6,500 in savings and family loans, Li started his own plastics manufacturing company called Cheung Kong Industries. One of his early clients was Hasbro, for whom he made plastic flowers and toys like the G.I. Joe doll for export to the U.S.

Li proved to be a savvy businessman, steadily growing Cheung Kong into a leading real estate investment firm in Hong Kong. He listed the company on the Hong Kong Stock Exchange in 1972. This marked the start of his transition into property development and investment.

In 1979, in a landmark deal, Li acquired a controlling stake in the British conglomerate Hutchison Whampoa, becoming the first Chinese entrepreneur to take over one of Hong Kong’s elite British “hongs” or trading houses. 11 This boldly signaled Li’s ambitions to build a global business empire.

Over the following decades, Li executed a string of strategic acquisitions and investments across real estate, retail, energy, telecommunications, media, and other sectors worldwide. This included the purchase of Canada’s Husky Energy in 1987 and the $1 billion acquisition of Hongkong Electric Holdings in 1985.

Real Estate Deals

Real estate formed the core of Li’s vast business empire and the foundation of his immense wealth. Some of his major property deals and investments include:

  • Acquiring the landmark London office building 5 Broadgate for £1 billion in 2018.
  • Purchasing a massive plot in West London’s Earls Court for £707 million in 2018 for residential development.
  • Investing heavily in British real estate during the Brexit period, including residential projects like Royal Gate Kensington, Chelsea Waterfront, and Belgravia Place in prime London areas.
  • Acquiring the largest pub chain in the UK, Greene King, for £4.6 billion in 2019 in a property play.
  • Owning over 15,000 properties in Hong Kong through his companies CK Asset Holdings and CK Hutchison Holdings as of the early 2020s. 

Li was known for making contrarian bets on real estate, such as buying properties in Hong Kong during times of economic turmoil like the 1967 riots. He also pioneered an investment strategy of acquiring infrastructure assets like ports, utilities and telecoms for their steady cash flows.

While Li began divesting some of his real estate holdings in Hong Kong and mainland China in his later years, he maintained a substantial property portfolio globally through his companies. His real estate investments and development projects were a major driver of his billion net worth.

Philanthropy

Li Ka-shing is widely recognized for his extensive philanthropic efforts, primarily conducted through the Li Ka Shing Foundation (LKSF), which he established in 1980. Li considers the foundation his “third son” and has pledged one-third of his assets to it. The foundation has granted over HK$12.5 billion (US$1.6 billion) in charitable donations, with approximately 90% of these funds directed towards the Greater China region.

One of its most significant contributions is to Shantou University, which Li founded in 1981 in his hometown. The foundation has pledged HK$5.4 billion to support the university, with HK$3.6 billion already donated by 2010.

The foundation has funded medical research and services, including the development of “Heart of Gold” hospice services in 20 major hospitals in China and the construction of several hospitals and nursing homes. It has also supported scientific research at institutions like the University of California, Berkeley, with a $40 million grant to support the construction of a scientific research center.

Personal Life

Li married Chong Yuet-ming in 1962, and they had two sons, Victor Li and Richard Li. Chong Yuet-ming passed away in 1990. Victor Li is the chairman of CK Hutchison Holdings and CK Asset Holdings, while Richard Li has developed his own business ventures.

Despite his immense wealth, Li is known for his frugal lifestyle. He has lived in the same mansion in Deep Water Bay on Hong Kong Island for around six decades. He wore a $50 Seiko watch for many years before switching to a $500 Citizen Eco-Drive watch. His simple lifestyle has earned him the nickname “Superman” for his work ethic and business acumen.

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