1928 was born in Chaozhou, Guangdong, and his father was a primary school principal. 1940, the whole family fled to Hong Kong to escape the oppression of the Japanese invaders. Two years later, my father died of illness. In order to support his mother and three younger brothers and sisters, Li Ka-shing was forced to drop out of school to make a living in society.
First, Li Ka-shing sells in a toy manufacturing company. Although busy with work, Li Ka-shing, who dropped out of school, still went to night school to study and catch up with culture in his spare time. Because of diligence and cleverness, he was promoted to the general manager of plastic toy factory before he was 20 years old. Two years later, Li Ka-shing seized the opportunity to set up his own plastic factory with the $7,000 he usually saved. He named it "Changjiang Plastic Factory".
From 65438 to 0958, Li Ka-shing began to invest in the real estate market. With its unique vision and shrewd development strategy, "Changjiang" has quickly become a major real estate development and investment industrial company in Hong Kong. When Changjiang Industry 1972 went public, its shares were oversubscribed by 65 times. By the end of 1970s, he had stood out among the tycoons of his generation.
From 65438 to 0979, "Changjiang" acquired Hutchison Whampoa, an old British-owned firm, and Li Ka-shing became the first China person to acquire a British-owned firm. 1984, "Changjiang" purchased the controlling stake of "Hongkong Electric Company". Mr. Li Ka-shing is currently Chairman and General Manager of the Board of Directors of Cheung Kong Industrial Group Co., Ltd. and Chairman of the Board of Directors of Hutchison Whampoa Limited. 1994 The after-tax profit of the enterprises it manages reached 2.8 billion US dollars. 199565438+in February, the total market value of the three listed companies under Cheung Kong Industrial Group has exceeded 42 billion US dollars.
Li Ka-shing will open a business school in Beijing with a tuition fee of 240,000 yuan a year.
Li Ka-shing's "Li Ka-shing Foundation" will open a business school in Wangfujing Street, a prime location in Beijing, which may be the most expensive in Asia. The annual tuition fee is expected to be 240,000 RMB, which will officially start in September this year.
The college's higher education institution is called cheung kong graduate school of business, which is divided into two parts. In September this year, it will recruit the first batch of 65,438+050 students to participate in the executive MBA program, which will be launched in Beijing. Another MBA course will enroll students in March next year and be taught in Shenzhen. A spokesman for the Li Ka-shing Foundation said yesterday that details of the school would be announced later. He said that over the years, Li Ka-shing has donated countless different educational institutions and medical programs in the Mainland, and I believe no one will think that these donations are for profit.
Cheung kong graduate school of business is the first private MBA program college in mainland China. Xiang Bing, the first dean of the college and former director of the EMBA Training Center of Guanghua School of Management of Peking University, said that the college is an individual donation, so it is not limited by the proportion of foreign ownership and unprofitable terms. As for whether the mainland recognizes academic qualifications, Xiang Bing said that business administration courses attach importance to standards and strength, and there is no need to entangle whether academic qualifications are recognized.
Li Ka-shing's assets increased by 10%, ranking the richest man in Asia.
This year, Li Ka-shing, Chairman of Hong Kong Cheung Kong Industrial Group, defeated Masayoshi Son, President of Japanese Software Bank, and regained the first place, with total assets of 126 billion US dollars, an increase of1300 million US dollars compared with last year, ranking 18 in the world, up three places compared with last year.
Li Ka-shing was born in Chaozhou, Guangdong from 65438 to 0928. 1 1 years old, my hometown was invaded by the Japanese? . My father had to leave home with his family and live in Hong Kong. Li Ka-shing studied in Hongkong for only two years. His father died of illness and his family was in trouble. In order to support his mother, two younger brothers and a younger sister, at the age of 13, he resolutely shouldered the burden of being a small family, dropped out of school to find a job and stepped into various societies.
Li Ka-shing was a toy? Establish a company as a salesperson. Although busy with work, Li Ka-shing, who dropped out of school, still went to night school to study and catch up with culture in his spare time. Diligent and studious, smart and capable? Before he was 20, he was promoted to the general manager of the plastic toy factory. Two years later, Li Ka-shing seized the opportunity to set up his own plastic factory with the $7,000 he usually saved. He named it "Changjiang Plastic Factory". Speaking of the hardships of starting a business, Li Ka-shing was filled with emotion and passion:' At that time, Changjiang Plastics Factory only produced some ordinary plastic toys and household items, which were exported to foreign companies for distribution in Europe and America. Before 10, I worked seven days a week, working at least 16 hours a day, and studying by myself at night. Coupled with the shortage of staff in the factory, I have to work at the same time, such as purchasing goods and taking orders, and I often don't get enough sleep. It takes two alarm clocks to wake up in the morning, which is the saddest moment every day.
Six of Hong Kong's "Top Ten Working Emperors" once worked for Li Ka-shing.
In 2000, the total annual salary of the "Top Ten Working Emperors" in Hong Kong was as high as HK$ 460 million (the same below), and the average annual salary exceeded RMB 20 million. Among them, the subordinates of Li Ka-shing, the richest man in Hong Kong, accounted for six places, and Huo Jianning and Yuan Tianfan, who ranked first in Asia, earned more than 1 billion yuan. They can still enjoy wealth in such an economic downturn, and they are worthy of being working emperors.
The heads of Li Ka-shing's enterprises are also listed as working emperors, including executive director of Hutchison Whampoa, vice chairman of Cheung Kong Industries, chairman of Hongkong Electric and vice chairman of Cheung Kong Infrastructure. Gan Qinglin, Deputy Managing Director of Cheung Kong Industries, Executive Director of Hutchison Whampoa, Managing Director of Cheung Kong Infrastructure and Director of Hongkong Electric; Zhou Hu Fang Mu, deputy managing director of Hutchison Whampoa, director of Hongkong Electric, executive director of Changjiang Infrastructure, and Lu Falan, chief financial officer of Hutchison Whampoa, executive director of Changjiang Infrastructure, executive director of Hongkong Electric, non-executive director of Changjiang Industry and chairman of Tom.com.
The other four working emperors are He, who suddenly resigned as the managing director of the mobile phone company on Sunday of June 38+mid-February last year with an annual salary of 29 million yuan. Peng Zelun, executive chairman of Savills, whose business is mainly in Indonesia and the Philippines, has an annual salary of 24 million yuan; Lin, vice chairman of Henderson Land, vice chairman of Henderson Development, executive director of Henderson China and non-executive director of China Gas, with an annual income of 22.5 million yuan; Pang John, chairman of HSBC Holdings, earns an annual income of 654.38+080.3 million.
Huo Jianning, who ranks first among working emperors, is also the managing director of Hutchison Whampoa, the vice chairman of Hongkong Electric, the vice chairman of Changjiang Infrastructure and the executive director of Changjiang Industry, with a total income of HK$ 6.5438+0.35 million.
1999 and Huang's "orange" earned hundreds of billions, and Huo Jianning, the managing director, took 2 100000000 yuan as a reward, and no one objected. In 2000, the telecom stock bubble burst, and Huo Jianning successfully dealt with the aftermath, and received a director's remuneration of 654.38+20 million yuan, ranking first among the working emperors in Hong Kong, which was even more impressive.
Hutchison Whampoa earned11800 million yuan by selling telecom business Orange in 1999, 50 billion yuan by selling mannesmann in 2000, 30 billion yuan by selling Voicestream in the same year, and then won the third generation mobile phone (3G) license in the UK for 50 billion yuan, which triggered the competition of global telecom companies.
Huang was accused of "speculating sellers"
In a series of magical transactions, Hutchison Whampoa earned nearly 200 billion yuan, but it provoked foreign media to call it a big trader. Huo Jianning strongly denied: "We buy assets, send people to do it, and then sell them when the capital value is mature. According to the tax law, this is the realization of capital assets, not a transaction. "
Although in 2000, it temporarily retained the reputation of the emperor with hundreds of millions of employees working, but in 20001year, the global economy deteriorated, and whether Huo Jianning will be reduced in salary will be announced in next year's annual report. However, during the Huang Qi period, it acquired Priceline and Global Telecom twice, and expanded its business to Beijing real estate with bright prospects. Mr. Huo Daban's performance is still very brave.
Although PCCW is a nightmare for millions of investors, it is a dream factory for management to realize their long-term aspirations. Ranked second is Yuan Tianfan, vice chairman of PCCW, with an annual income of 6,543.8 billion yuan. On the second day after the formal merger of PCCW and Hongkong Telecom, he sold 8 million shares of PCCW at a price of about 14 yuan per share, with a profit of over 6,543.80 billion yuan. Less than a month later, Yuan Tianfan bought the former Belgian consular residence for about 65.438+0.8 billion yuan.
However, just as Yuan Tianfan's personal dream was shattered, the market value of PCCW evaporated by more than 400 billion yuan compared with the peak period, and the management was under great pressure. PCCW recently announced that Yuan Tianfan, director of PCCW, has also reduced his shareholding ratio from 0.9% to 0.83% and cashed in 5 million yuan, which makes people guess that his position has changed?
Morris is one of Li Ka-shing's right-hand men. As the vice chairman of Changjiang Industry, he is mainly responsible for the internal management and real estate management of the group, and rarely makes public appearances, with an annual income of 78.5 million yuan.
Gan Qinglin, 54, is Li Zekai's uncle with an annual income of 38 million yuan. Last year, the remuneration of his directors in Changjiang increased by about 30% compared with the previous year's 6.5438+0.35 million yuan, which may be caused by the ideal development of Changjiang Life Science and Technology after he became president.
Zhou Hu Fang Mu comes from a legal family. His father, Hu, was a legal adviser in the early days of the establishment of Sun Hung Kai Property, and his brother was the founder of Hu Guan Law Firm. After obtaining the qualification of practicing lawyer, he worked in Huguan Luo Li Law Firm until 1984 joined Hutchison Development, with an annual income of 35 million yuan. She is one of the heroes who successfully completed a number of complex transactions with Huang.
Lu Falan has an annual income of 22 million yuan. He is a media kingdom in Tom.com, which has changed from a virtual network enterprise to a real network enterprise. Behind the scenes to assist CEO Wang Xianxian is Lu Falan.
Li Ka-shing frequently attacks the mainland with tens of billions of dollars.
Last year's performance dropped by 60%
Although Li Ka-shing's Hong Kong-listed company Changjiang Industry (Group) Co., Ltd. and its joint venture Hutchison Whampoa Co., Ltd. won the first and second place in "200 1 500 International Chinese Businessmen" selected by Asia Weekly, the performance in 20001year was greatly affected by the global economic downturn and the economic and financial turmoil in Hong Kong, among which Changjiang Industry obtained a net profit of HK$ 729/KLOC-0.0 billion. Facing the influence of the deterioration of the external economic environment, at the annual report conference, Li Ka-shing promised to make use of the Group's abundant cash flow and stable borrowing level to build a strong financial strength and obtain a very high long-term credit rating, which is conducive to raising funds, grasping investment opportunities at any time and striving for the greatest interests of shareholders.
Changhe Department has business in 36 countries around the world, and its main business is real estate and telecommunications, the two pillar industries of Changhe Department. Global economic integration has brought scale effect to growth and development, but it has also affected enterprises by the economic storm. Changjiang Industrial Group, which is mainly engaged in real estate, earned HK$ 65.438+89.6 million from property last year, down by 654.38+0.63% compared with the same period of last year, while Hutchison Whampoa, which is mainly engaged in telecommunications business, earned HK$ 66.5438+46 billion last year. However, due to its investment in 3G services last year, HK$ 365.438+0.2 billion was used as the relevant investment reserve. Although Li Ka-shing has repeatedly stressed on various occasions that Hong Kong's economy will recover, Li Ka-shing also admitted in internal discussions that it is still unclear when the recovery will begin and what the prospects are, and many challenging problems may arise at any time. On the one hand, Li Ka-shing still continues to adopt its bargain-hunting strategy, absorbing a lot of land, building properties and promoting profitability; On the other hand, the focus of Li Ka-shing has shifted to markets with good environment-Europe, America and the Mainland, especially the Mainland market. Li Ka-shing said that it is generally believed that the European and American economies can grow by three percentage points, while the mainland will grow by 7%, which is the biggest increase. As far as economic growth is concerned, no country can compare with China at present.
China's rapid economic growth in the past 20 years has been favored by Li Ka-shing, and China's entry into WTO has strengthened Li Ka-shing's confidence. On a public occasion, Li Ka-shing made it clear that Cheung Kong has invested in the mainland of China for many years, and there will be more business opportunities after China's accession to the WTO. Some business areas have not been involved in the past and may be involved in the future. The most important thing is to recognize the direction and seize the opportunity.
Investment in mainland China this year10 billion USD.
If tom.com was playing a high-tech concept card in the Mainland, today's Changhe aircraft carrier is playing a more stable Li Ka-shing concept card. Years of business experience in the Mainland have given Li Ka-shing a deeper understanding of the investment environment in the Mainland. Unwilling to get involved in politics, Li Ka-shing has established a high social image and prominent social status through numerous charitable activities, won loyal partners, and made corporate government public relations more powerful. In this case, Changhe Department is ready for a big fight. At the annual report conference held in March this year, Li Ka-shing made it clear that Changhe Department's investment in the Mainland this year will be in the order of HK$10 billion.
In the real estate industry, in addition to the "CBD Back Garden" in Dongba, Chaoyang District, which was developed with 200 1 investment 1 100 million yuan, Changhe Department spent 390 million yuan to obtain the land use right of Shanghai Gubei New District 14 plot. It is reported that some development projects in Shenzhen and Chengdu are under negotiation.
In terms of port network construction, Li Ka-shing regards the mainland port business as the most important investment in the future, and the Pearl River Delta is the base camp of Hutchison Whampoa's mainland port business. Hutchison Whampoa, by expanding Haicang Port in Xiamen and taking a stake in Beilun Port in Ningbo, obviously moved its front line northward, forming a coastal port network in China. Recently, it planned to invest in Qingdao, which broke the original intention of its port investment strategy of "being a port south of Shanghai, not a port north of Shanghai".
In the communication industry, PCCW announced a joint venture with China Telecom, with a total investment of about 200 million yuan. The joint venture company will initially focus on developing information technology solutions for the mainland financial industry, but will not rule out entering other industries in the future.
In the media industry, tom.com currently has a number of media businesses in Greater China, including magazines, radio stations, websites and advertisements. Following the successful acquisition of ATV shares in early July, Li Ka-shing's media kingdom is even bigger.
In terms of biotechnology, when Li Ka-shing established Changjiang Life Science and Technology, he said that biochemical technology will be a new link in the future development of the Group. A few days ago, Changjiang Life Science and Technology was spun off from Changjiang Enterprise Market, which immediately set off a biochemical stock frenzy in the Hong Kong stock market. It is reported that Changjiang Industry has invested 420 million Hong Kong dollars in Changke, and there are currently 40 registered patent projects in Changke. By the end of the year, the investment in this project will reach nearly HK$ 654.38+0 billion, and it will increase to HK$ 654.38+0 billion or even HK$ 654.38+0 billion in the next few years, and it will be used as a platform for acquiring and investing in mainland banks in the later period.
With huge funds, Changhe Department, led by Li Ka-shing, is planning calmly in the Mainland, trying to occupy the commanding heights of many industries through acquisitions and joint ventures.
Aim at traditional industries
Forward-looking and strategic investment in emerging industries is one of Li Ka-shing's best skills. Entering the real estate industry, acquiring Hutchison Whampoa, entering the port transportation industry, and participating in infrastructure projects ... Changhe Department always takes the lead and achieves long-term development because it is one step ahead of others. Nowadays, Chinese mainland's information industry is booming, but Changhe's new attack on the mainland market is particularly steady. Generally speaking, the expansion direction has never deviated from the basic business of traditional industries, and the goals are mainly locked in five aspects: real estate, communication, port network, media and biotechnology. Compared with global business expansion, lack of energy. According to reports, the main reason for this difference is that Chinese mainland has not yet opened its energy management and operation to private enterprises.
To some extent, it is not that Li Ka-shing is conservative. One of the important reasons is that Changhe Department, as one of the protagonists, also suffered the disaster brought by the bursting of the global network bubble economy in 2000-200 1 year. Changhe Department began to invest in the mainland many years ago, and the accumulated investment in the mainland has exceeded 60 billion Hong Kong dollars, among which Cheung Kong Industrial Group has become one of the largest investors in Hong Kong. Although the huge investment has made Li Ka-shing famous in the Mainland, behind the overall goodwill, those investment failure projects that exceed 65,438+05% ~ 20% can not be ignored, which is unique for Changhe Department whose performance has always been stable. Changhe Department blamed the failure on imprudence. The early tom.com, PCCW and Cyberport once brought a mythical aura to enterprises, and created such legendary figures as Li Zekai, but they did not really bring practical commercial benefits to the group. After the upsurge, tom.com and PCCW are only left with a beautiful shell of Changhe Department led by Li Ka-shing. In view of this, Li Ka-shing repeatedly stressed in the enterprise that in a radical era, the most important thing is to keep a clear judgment.
In the face of the recent upsurge of foreign investment in the mainland, Changhe Department's actions seem conservative, but in fact they are full of domineering. The chosen investment industries either involve infrastructure construction in Chinese mainland, such as real estate and ports; Or involve important industries, such as communication, media, biological science, etc. No matter from the market influence or marketing income, we can get a stable high market return.
Covet the domestic securities market
As early as 200 1, when Li Ka-shing attended a conference in Beijing, he expressed his interest in capital market financing in the mainland.
Although the state has not yet issued a policy on the listing of overseas companies in the mainland securities market, enterprises like Changhe Department have been waiting and working hard. As an international enterprise, Changhe Department is bound to be affected by the global economic downturn, but if it can be listed in China, it can at least slow down the impact of foreign markets on enterprise management. On the other hand, financing through the capital market can also strengthen the economic integration between enterprises and the mainland.
At that meeting, Li Ka-shing also said that listing on the mainland stock market in China will not only benefit mainland investors, but also help attract more foreign investment to participate in China's economic development. Changhe Department has been preparing and waiting for this. Li Ka-shing recently announced that Changhe Department will hold a large number of shares in Bank of China (Hongkong), which has aroused widespread concern in the society. Some analysts believe that Li Ka-shing hopes Changhe Department can take mainland companies as its parent company, and integrate more capital, mainly corporate capital, so as to facilitate its listing in the Mainland as soon as possible in the future. According to the news from Changhe Department, in the future, subsidiaries will not be excluded from backdoor listing in the Mainland. Our reporter Lu Yinan
Li Ka-shing frequently.
China's accession to the WTO has brought new opportunities to industrialists at home and abroad. Li Ka-shing, who is good at dancing with long sleeves, strikes again with his keen sense of smell of market ups and downs. Recently, with her strong financial advantages, she has made frequent moves, which has aroused widespread concern in the industry.
Following the US$ 70 million investment in Qingdao tire manufacturing industry in May, on June 5438+00, Li Ka-shing, chairman of Hong Kong Changjiang Industry (Group) Co., Ltd. and Hutchison Whampoa Co., Ltd. (hereinafter referred to as "Changhe Department"), said at the special shareholders' meeting that the two companies would hold more shares of BOC (Hong Kong) through public offering. Then, on July 12, PCCW announced that it would set up a joint venture with China Telecom to provide IT enterprise solutions for the mainland financial industry. It is reported that the total investment of the joint venture company is about 200 million yuan, PCCW has obtained the right to operate the company, and the income of the joint venture company can be included in the PCCW account. China Telecom will hold 565,438+0.5% equity of the joint venture company, and PCCW will hold 48.5% equity. In the second half of this year, similar news from Changhe Department will continue to spread.
Changhe's series of investments, involving a wide range of fields, regions and time periods, are unprecedented, laying the groundwork for Li Ka-shing's long-planned hegemony in the mainland. A few days ago, the reporter interviewed some employees of Changhe Department who participated in the business expansion in the Mainland, and learned the inside story of some Changhe Department's recent rapid "surge" in the Mainland.
The eagle attacked Li Ka-shing again, looking for the best entry point of the market.
Li Ka-shing will not be underestimated. Even from another point of view, his record is "stained", but few people remember it. In the 1980s, he invested in an oil company in Canada, and his performance did not improve for many years. His first investment project in Britain, Rabbit Company, ended in failure.
Is Li Ka-shing really a superman in the investment field, as Asia says?
In fact, most Asian tycoons, no matter how powerful they are at home, can't escape a fate: they are just the continuation of family businesses. But Li Ka-shing is an exception. This is not because he controls Hong Kong's economy-he runs the largest port in the world; Transmission line monopoly for China mainland; Enjoy the reputation of top real estate developers and retailers; And has the title of the largest mobile phone operator. But because only he can be frequently perceived by the world in his own field, and even affect the future of the global industry.
There is a moment in the telecommunications industry that may best explain the problem. On August 9th this year, Hutchison Whampoa, one of Li Ka-shing's two holding companies, together with Singapore Technology Telecom Media Company, a partner company in Singapore, poached Global Telecom for US$ 250 million. An American optical fiber communication company, which has been making a lot of noise recently, is waiting for bankruptcy, with a share of 6 1.5%. Interestingly, what this famous Asian investor did attracted many people to compare him with Buffett in the United States. Is it because great minds think alike? Both of them want to make a fortune in the unfathomable telecommunications industry, but it is a pity that this "bottom-up" is risky.
More importantly, Li Ka-shing may implement it this autumn. Once Hutchison Whampoa starts to fully promote its 3G mobile phone service to Britain, Italy, Sweden, Australia, Israel, Austria and China, the world will be shocked. We should know that traditional European telecom companies have to stop and delay the issuance of 3G licenses in the face of the sluggish market environment. Investors are also beginning to worry about whether this technology will die before it is put into production; However, in Li Ka-shing's view, all this is not so bad, and it is still too early to talk about failure.
Li Ka-shing's gamble on 3G mobile phones caused two diametrically opposite reactions. Most non-Asian fund managers in the market accuse Li of betting too much, and they emphasize that Hutchison Whampoa's share price has fallen to almost half of its peak in early 2000. On August 8th, Standard & Poor's just announced that they were worried about the future of Hutchison Whampoa and its sister company Cheung Kong.
However, this will not affect the positive attitude of small and medium-sized investors in Asia towards Li. In their minds, Li Ka-shing can't make mistakes. If Li starts any company, even if he doesn't publish the performance plan or the list of shareholders, they will be eager for it-just last July, the life science company in Li Ka-shing went public, and the oversubscription ratio was 120 times. Obviously, if Superman Lee daydreams about the bright future of 3G, will anyone still doubt it?
Keen sense of smell
1928 Li Ka-shing, born in the Year of the Loong, came to Hong Kong from the mainland at the age of 22 to start his first business, making and selling plastic flowers. After trying to earn the first sum of money, Li decisively turned to real estate development, and it was out of control from then on. However, Li Ka-shing's secret of getting rich is controversial, especially for western investors. In addition to correctly predicting the Hong Kong government's policy on the real estate market, Li also grasped people's psychological orientation towards Feng Shui, thus occupying an important position in the real estate industry in Hong Kong.
Luck may be the best explanation for Li Ka-shing's success: doing the right thing at the right time. From 1980s to 1990s, whoever owns real assets in Hong Kong will get tickets for wealth, because the policy at that time was to restrict new land for real estate development. Like many real estate developers, what Li has done is to continue to raise real estate prices. When he found it more timely to do container port business, he followed Hong Kong's economic take-off with goods on his shoulders. By 1997, when many other Asian giants "fell" because of the continuous depreciation of their currencies, Li remained "standing" because the Hong Kong dollar remained relatively strong.
However, luck is not entirely Li Ka-shing's. Among the industrial tycoons in Hong Kong, Li Ka-shing knows best when to attack overseas and when to turn to new fields. No one can find and hire the best professional managers in the world like him. At the same time, his investment record is beyond the reach of many other Asian industrial giants. And everyone who has worked with him will give a thumbs-up to his sensitive sense of investment.
Compared with Buffett, who is known as "the sage of Omaha", Li Ka-shing is also looking for value, but his search for value goes further.
Buffett first crushed (reorganized) the undervalued company he was looking for, and then held the company's stock indefinitely.
Li Ka-shing is a typical Asian asset trader. What he did was to find the best entry point in the market. Like a falcon, he waited patiently for his prey to appear. When the prey does appear, it will attack and capture it with lightning speed. This is the case with the acquisition of global telecommunications. Li Ka-shing didn't even use his other telecom assets. June, 5438 +2002 10, his first offer was withdrawn immediately. Later, he made a comeback and clinched a deal at a new price that was lower than the previous two-thirds.
The attack failed?
Although wearing the hat of "asset trader", and this hat is also suitable for most Asian businessmen, it is still too small for Li Ka-shing, because he has done more than that. Indeed, one of his famous transactions won him a lot of praise:1In September 1999, Huang Chou successfully sold the British mobile phone operator Orange, with a net profit of147 billion US dollars. However, behind his success, he knows how to build a career. In Orange's case, he spent years trying to integrate the company. Perhaps this is the optimism of those who support Li: Li Ka-shing will turn Gan Kun around on 3G.
It seems that Li Ka-shing will not be underestimated. Even if his record is a "stain" from another angle, few people remember it. In the 1980s, he invested in an oil company in Canada, and his performance did not improve for many years. His first investment project in Britain, Rabbit Company, ended in failure.
In a word, it's time to learn from the harsh tone that Li Ka-shing always used when evaluating "star" fund managers. "Whatever the reason, they had a good performance for a while, and then they used their reputation to start tossing bigger investments until one day, his performance fell into a trough like everyone else."
So, what will happen to Li Ka-shing's 3G mobile phone business? Let's wait and see.