Victor Li finally emerges from the shadow of his Superman father Li Ka-shing
Victor, a Stanford University-educated engineer, takes over control of CK Hutchison Holdings and CK Asset Holdings after a decades-long apprenticeship under his illustrious father
It’s not easy being the son of a superhuman action hero.
Victor Li, 53, heir to Hong Kong’s biggest family fortune, has spent his career in the shadow of his father and billionaire property tycoon Li Ka-shing, known as “Superman” for his deal-making savvy.
On Friday, the elder Li, 89, announced his retirement as chairman of CK Hutchison Holdings and CK Asset Holdings – his two biggest companies – in a move that shifts control of the telecoms, retail and infrastructure business empire to Victor, a Stanford University-educated engineer who has preferred to stay out of the media glare.
Li is expected to focus on building profitability by cutting costs and finding synergies inside the global conglomerate that also owns utility companies and mobile-phone networks. His father will remain as a senior adviser and will continue to work closely together.
“When I return to work tomorrow, it will be the same,” Victor said at the Friday press conference announcing the change of the guard, responding to a question posed by Bloomberg. “Yesterday, we were a team. It will stay like that whether he is chairman or adviser. We are neighbours at home, so how can we not talk to each other?”