HONGKONG, China (Reuters) — Hong Kong conglomerate CK Hutchison Holdings Ltd said on Tuesday (June 20) that its chairman Li Ka-shing was in “very good health,” but stopped short of denying a Wall Street Journal report that he plans to step down by next year.
Li, who will be 89 in July, anointed his eldest son Victor, 52, as his successor five years ago. His eventual retirement has been long awaited and would mark the end of an era for Hong Kong.
He is Hong Kong’s richest man with a net worth of $33.2 billion and is symbolic of a generation of self-made Hong Kong businessmen who tapped into the former fishing village’s rapid development in the 60s and helped turn the small city into the financial hub that it is today. His empire spans multiple sectors around the world, including retail, property, telecommunications, energy, and ports.
The report on his potential retirement comes on the eve of the 20th anniversary of Hong Kong’s handover from Britain to China, due to be marked next month.