The Hong Kong billionaire Li Kar Shing

Li Kar Shing is the wealthiest man in Hong Kong and East Asia. The Hong Kong billionaire started in the plastic-toy industry in the 50s and has moved into many other areas of business over the years, including shipping, telecommunications, financial services and real estate. He is the twelfth richest man in the world with an estimated wealth of US$16.2 billion on 13 February 2009.

Li Ka Shing was born in Chaozhou in the Guangdong Province, Republic of China in 1928. In 1940 the Li family fled to Hong Kong and stayed at the home of his wealthy uncle to avoid the turmoil in China. The arrogance of Li's uncle with his immense wealth ignited Li's determination to make a place for himself in the world.

When his father died, Li was forced to leave school before the age of 15 to take up the responsibility of looking after the livelihood of the family. He found a job in a plastics trading company where he laboured 16 hours a day.

In 1950, after learning how to operate a plant, Li founded a plastics manufacturing company in Hong Kong with funds borrowed from family and friends and contacts he cultivated as a salesman. Li avidly read trade publications and business news before deciding to supply the world with high quality plastic flowers at low prices. Li learned the technique of mixing colour with plastics that resemble real flowers. After retooling his shop and hiring the best technicians he could find, he prepared for weeks for the plant visit of a large foreign buyer. Impressed by the quality of Li's plant, the buyer placed a huge order. A few years later, Li grew to be the largest supplier of plastic flowers in Asia. He made a fortune selling those plastic flowers.

In 1958 his interests moved to real estate and by 1971, he had founded Cheung Kong Real Estate Company. The company grew rapidly, and eventually being listed on the Hong Kong Stock Exchange in 1972. Cheung Kong (Holdings) Limited continued to grow through acquiring major companies like "Hutchison Whampoa Limited" and "Hongkong Electric Holdings Limited".

Li’s business holdings span more than forty countries and have interests in providing electricity, real estate development, retailing, shipping container terminals, and large investments. Li's businesses (including Cheung Kong and Hutchison Whampoa) account for more than 10% of the Hong Kong Stock Exchange.

He is also the widowed father of two sons, Richard and Victor. Both of them play important roles in Li’s business. Victor is the Managing Director and Deputy Chairman of "Cheung Kong" and the Deputy Chairman of "Hutchison Whampoa" while Richard is the Chairman of the information technology company "PCCW", one of the leading IT and telecommunications companies in Asia.

Being a billionaire has allowed Li to be a generous philanthropist, setting up the "Li Kar Shing Foundation" in 1980 to create "a culture of giving", he was named /Asia's Most Powerful Man/ by /Asiaweek/ in 2000. He has donated more than $450 million to educational causes and medical care such as nursing homes and day-care centers for the elderly. His donations in 1981 resulted in the founding of Shantou University, and after the Indian Ocean Earthquake disaster in 2004; he reportedly donated a total of $3 million.