Hong Kong’s Richest Man Li Ka-shing Retires
- Son Victor, 53, to become chairman of CK Hutchison, CK Asset
- Elder Li will serve as adviser to the group after 68 years
Li Ka-shing, a wartime refugee who used to sweep factory floors in Hong Kong for a living, retired after a career spanning more than half a century amassing one of Asia’s biggest fortunes from building skyscrapers to selling soap bars.
The 89-year-old chairman of CK Hutchison Holdings Ltd. and CK Asset Holdings Ltd. will stay an adviser to the group after stepping down in May. Elder son Victor, 53, will take over a conglomerate that touches the lives of practically everyone in Hong Kong -- the family’s Power Assets Holdings Ltd. generates their electricity and ParknShop supermarkets sell their groceries. The group also operates mobile-phone stores and Superdrug and Savers in the U.K., owns ports around the world and a controlling stake in Husky Energy Inc. in Canada.