Chairman, Pacific Century Group
Far more than a scion, the Pacific Century Group chairman has built a business empire of his own
Being the son of Hong Kong’s most legendary tycoon, Li Ka-shing, is a pretty tough billing to live up to. Richard Li has done so by breaking away from the family business and creating his own portfolio of companies.
Pacific Century Group, of which he is chairman and CEO, became the parent company of telecoms giant PCCW after buying it for US$38 billion in 2000 in what at the time was Asia’s largest corporate acquisition. The company has extensive financial holdings, including insurance company FWD and PineBridge Investments, formed after Li purchased AIG’s asset management business in 2010; as well as luxury property and infrastructure business Pacific Century Premium Developments.
Li began working at the family business in 1990, in the fund management division of Hutchison Whampoa. It was also in 1990 that he established regional satellite TV operator Star, later using the money he made selling it to News Corporation to establish PCG in 1993. He is also a member of the Global Information Infrastructure Commission and of the US Center for Strategic and International Studies’ International Councillors Group.
A prolific giver to educational and healthcare charities, he has three sons with actress Isabella Leong.