Recruiting, applying for grad programs, and building a business are all tough and grueling processes. When you are on cold email number 400 and you still haven’t landed a job yet, things start to take a toll on you. I remember getting frustrated with the process. The purpose of the Rags to Riches section is to remind us of the struggles successful people have faced. Things don’t come easy and these short stories are to remind us to keep pushing. Li Ka-Shing’s uprising starts with the unfortunate loss of his mentor.
Li Ka-Shing went from a poor child to a billionaire with a net worth of $24.7 (as of May 2020). He chairs the Li Ka Shing Foundation.
The Struggles (Rags)
Born Li Ka-Shing (13th June 1928) in Chao’ an, Chaozhou in Guangdong Province, Li Ka-Shing is an investor, business magnate, and philanthropist.
He comes from a humble background as a teacher’s son. At a young age, while still in school, his father succumbed to Tuberculosis. Upon his father’s death, 15-year-old Li Ka-Shing was forced to drop out of school to help his family make ends meet. He got a job at a plastics trading company and had to work 16 hours 7 days a week to support his family. Working at the plastics company inspired him to start his own plastics business.
The Success (Riches)
In 1950, his company Cheung Kong Industries was born. He decided to manufacture and export plastic flowers. As the plastic business boomed, Li Ka-Shing shifted posts to real estate. He bought as much property as he could earning him the title of Hong Kong’s leading private developer.
In 1979, he acquired Hutchison Whampoa, one of the large British-owned local trading companies. He turned it into a very successful independent operator of ports. In 1985 he acquired Hong Kong Electric Holdings Limited.
By the time 1987 rolled by, he was already a household name. He and his partners bought a Canadian Company, Husky Oil. Over the years, he invested in numerous businesses.
Li Ka-Shing has the knack of acquiring businesses that are on their last legs for cheap and then turning them into money-making cows. He doesn’t limit himself to one industry. Over the years, he has invested in companies such as A.S Watson Group and Summly.
Li Ka-Shing broke into the richest people in the world list, ranking number 30 as of June 2019. His business empire spans a wide range of industries, from real estate to health and beauty. He has a special skill for investing in potentially lucrative technologies before they become a hit. Over the years, he has invested in technology companies such as Facebook, Shopify, Skype, and Waze among others.
Even with all his wealth, Li Ka-Shing lives a fairly simple though comfortable life. Over the years, Li Ka-Shing’s style has not been extravagant as he tends to favor simple styles over expensive ones, from his watch to his shoes and simple clothes.
Li Ka-Shing is active in many charities. He dedicated billions of his fortune to his charities as well as numerous other philanthropic causes.
When he was almost 70 years, Li Ka-Shing handed over the business reins to one of his sons, Victor Li. However, he still has an input in the empire as a senior advisor.
Our Favorite Quote
“You can believe in Fung Shui if you want, but ultimately people control their own fate. The most important thing is to improve yourself and give it your best. Then many things previously thought to be impossible will become possible”
Li Ka-Shing
Li Ka-Shing’s uprising reminds us that our background does not determine our future.
Need some more motivation? Check out Sylvester Stallone’s story, you’ll feel like Rocky afterward.
