Hong Kong billionaire Li Ka-shing retires at 89
HONG KONG – Hong Kong billionaire Li Ka-shing says he is retiring as chairman of his conglomerate just shy of his 90th birthday.
Li made the announcement at a packed press conference on Friday after his company, CK Hutchison Holdings, released its annual results.
CK Hutchison said in an announcement that Li will retire from his position as chairman and executive director of his flagship conglomerate after the company’s annual general meeting in May.
Li, who turns 90 this summer, has been Hong Kong’s wealthiest individual for two decades, according to Forbes, which estimates his net worth at $36 billion. The magazine also ranks him No. 23 on its global ranking.
Residents of the southern Chinese financial center revere Li for his moneymaking prowess, which has earned him the nickname “Superman.”
