Li Ka Shing Tower of the Hong Kong Polytechnic University
© Matthäus Wander
In 1950 , Li started his own plastic manufacturing company Cheung Kong Holdings . From there , he was able to build a multi-billion dollar empire consisting of manufacturing , retail , tech , electricity , and multiple investments in asset classes , including communications and real estate .
Li holds Canadian citizenship for commercial reasons and is married with two sons , one of whom was kidnapped for ransom by a notorious gangster called Cheung Tze-keung in 1996 . At the time , Li paid the criminal to release his son , but the gangster was sentenced to death and executed by mainland Chinese authorities two years later .
At the time of publication , Li had an estimated net worth of $ 30.5bn USD and was one of the richest men in Asia . He has been named repeatedly as one of the most influential people in the world by powerhouse magazines including Time and Forbes . His companies own numerous highrise buildings worldwide , and he controls CK Hutchinson , the largest company in Hong Kong , with more than 270,000 employees in combination .
In 2020 , Li made his debut bet on a financial technology company by acquiring a startup called FOMO Pay through AMTD Digital , which is a subsidiary of New York Stock exchange-listed and fintech-focused investment banking firm AMTD International , established by CK Hutchison .
FOMO Pay is a cashless payment system based in Singapore that uses QR codes and processes 3 million transactions per month . The company also allows payments to be made using Visa , MasterCard , WeChat Pay and Baidu Wallet , to name a few .
Li is also one of the leading philanthropists worldwide and has donated more than $ 3bn USD to charities , particularly for healthcare and education reform , since 2001 . Several schools bear his name today , including Cambridge University ' s research institute in partnership with Cancer Research in the UK . He also funded Shantou University and set up the Li Ka Shing Foundation in 1980 .
In conclusion , many individuals throughout the world can learn from Li ' s success . He was born into poverty but managed to become one of Asia ' s most powerful billionaires . Perhaps it ' s no accident his surname sounds like " kerching ", the sound derived from oldfashioned cash registers because he gets the money in . His unwavering commitment and desire to thrive inspire others who wish to accomplish great things in life , regardless of their circumstances or origins . And his interest in fintech may be a sign of more exciting things to come . fintechmagazine . com 21