Hong Kong tycoon Li Ka-shing steps down, son Victor now holds reins


HONG KONG: Hong Kong’s richest man, Li Ka-shing, held his last meeting with shareholders and handed to his eldest son the keys to his US$35.3bil empire, bringing to a close a rags-to-riches story that made him an icon in the financial hub.

Li, who started out as a factory apprentice at 12, is stepping aside from a conglomerate that employs 323,000 employees and has assets in more than 50 countries spanning property, power, telecoms and oil.

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