– Hong Kong’s Li Ka-Shing Says Wealth ‘Underestimated’ (Bloomberg, Feb 28, 2014):
Li Ka-shing, Asia’s richest man, said his fortune is at least 40 percent underestimated and that he won’t “admit” to being a Hong Kong mogul.
Li has a net worth of $29.2 billion, making him the 22nd-richest person in the world, according to the Bloomberg Billionaires Index.
– The Richest Man In Asia Is Selling Everything In China (Sovereign Man, April 16, 2014):
Here’s a guy you want to bet on– Li Ka-Shing.
Li is reportedly the richest person in Asia with a net worth well in excess of $30 billion, much of which he made being a shrewd property investor.
Li Ka-Shing was investing in mainland China back in the early 90s, way back before it became the trendy thing to do. Now, Li wants out of China. All of it.
Since August of last year, he’s dumped billions of dollars worth of his Chinese holdings. The latest is the $928 million sale of the Pacific Place shopping center in Beijing– this deal was inked just days ago.
Once the deal concludes, Li will no longer have any major property investments in mainland China.
This isn’t a person who became wealthy by being flippant and scared. So what does he see that nobody else seems to be paying much attention to?
Simple. China’s credit crunch.