City Beat | Li Ka-shing’s retirement marks the end of an era for Hong Kong tycoons – and how they deal with Beijing
The city’s first generation of high-powered billionaires had lifelong friendships with top men north of the border. With ‘Superman’ stepping down and a new style of leader in Xi Jinping, that looks to have changed
No question seemed too hard for the tycoon known as “Superman”. Having spent seven decades building up his business empire, Li knows all too well how politics and economics are unavoidably intertwined. So he chose to be frank and honest about his political views.
The fact is, a man of his means and influence simply cannot ignore politics. A case in point is how much weight his opinion carries when he supports any candidate for chief executive.
No surprise, then, that there have been so many controversies regarding his investment strategies on the mainland all these years.
It has been common for Hong Kong’s billionaires to cultivate close personal relations with China’s top leaders. The scale of their investments on the mainland was seen as a mark of patriotism, especially during the early years when the country was opening up and badly needed overseas investors.