Billionaire Li Ka-shing, chairman of CK Hutchison Holdings Ltd and Cheung Kong Property Holdings Ltd speaks during a news conference in Hong Kong, March 22, 2017. [Photo/VCG] Hong Kong billionaire Li Ka-shing, 90, announced today he is retiring from his companies. Li said he will officially step down as the chairman of CK Hutchison and CK Asset later this year and will serve as a senior adviser. He will be succeeded by his elder son Victor Li Tzar Kuoi. The 89-year-old tycoon made the announcement at a press conference where his four listed companies, CK Hutchison, CK Asset Holdings Ltd., CK Infrastructure Holdings Ltd. and Power Assets Holdings Ltd., released their annual results. His net worth is $35.4 billion as of today, and is ranked 24th on the list of world's billionaires, according to forbes.com. Li is one of the richest and most influential tycoons in Asia, with interests in everything from ports and utilities to telecoms. His companies employ some 310,000 people in more than 50 nations. According to Forbes, his Li Ka Shing Foundation has donated more than $2.6 billion; over 80 percent has gone to Greater China. In 1950, after learning how to operate a plant, Li founded a plastic manufacturing company in HK with personal savings and funds borrowed from relatives. Li started out by supplying HK and the rest of the world with high-quality plastic flowers at low prices in the 1950s. make your own rubber bracelethow to remove festival wristband1 inch wide rubber bandsbatman wristbandcheap rubber wristbandscustom fidget spinners
Many sectors of Chinese society mourned the death of renowned Hong Kong philanthropist and prominent industrialist Tin Ka-ping, who died at the age of 99 in the city on Tuesday morning.Leading the tributes was the central government's top representative in Hong Kong, Wang Zhiming, director of the Liaison Office of the Central People's Government in the Hong Kong Special Administrative Region. Wang expressed his sorrow over Tin's death on Wednesday.He said he respected and appreciated Tin's lifelong love for the country and his great contribution to education in China.Tin cared about society and promoted public welfare in ways that will benefit future generations, Wang said.Joining him was Hong Kong's Chief Executive Carrie Lam Cheng Yuet-ngor. She said on Tuesday that Tin not only made significant contributions to the industrial development of Hong Kong but was also devoted to philanthropy over the past few decades, both in the special administrative region and on the mainland.Lam said she was grieved to learn of Tin's passing and extended condolences to his family.Hong Kong's Secretary for Education Kevin Yeung Yunhung said the Tin Ka Ping Foundation funded various educational institutions, from kindergartens to universities, as well as several scholarship and exchange programs that benefit a large number of local students.Born in Guangdong province, Tin moved to Hong Kong in 1958. He was successful in his early days in the chemicals business and later made a fortune in real estate. He devoted his life to promoting the development of charities, donating 80 percent of his total assets to different fields, especially education.So far, the foundation, a nonprofit charity founded by Tin in 1982, has funded 318 education institutions, more than 1,800 rural libraries, 29 hospitals and about 130 bridges and roads across 34 provinces, municipalities and autonomous regions in China.Educational institutions that were funded by Tin in both Hong Kong and the mainland also expressed both sorrow and appreciation.The University of Hong Kong said that Tin was a selfless educator and philanthropist who had contributed immensely to the development of teaching, learning and research in Hong Kong and on the mainland.Zhejiang University posted a tribute to Tin on its social media account. Tin provided money to establish the Tin Ka Ping Academy on the Xixi campus of the university. As it is the place where most students go for classes, the building bears witness to students' growth, the university said.Tin's name and the building have been integrated into the university, the post said.Other universities and middle schools in different provinces, including Guangdong, Sichuan, Yunnan, Jiangsu, also mourned Tin. All of them have received donations.
