Li Ka-shing still Asia's richest man

Li Ka-shing still Asia’s richest man

Once again Li Ka-shing is Asia's richest person according to a list of the world's richest people released by Forbes magazine.

The Hong Kong magnate and philanthropist, 84, was ranked 20th on the list.

According to the magazine, he was valued at $31 billion, his fortune jumping $5.5 billion as shares of his biggest holdings all rose 10 percent or more.

He also received 2012 dividends of $860 million.

Li is the only Asian among the world's top 20 richest and despite his advancing years he still oversees what is one of the world's most far-reaching empires with 260,000 employees in 52 countries.

2012 was a busy year, with Li controlled companies buying gas supplier Wales & West Utilities for $1 billion in October; his third utilities acquisition in the UK in 24 months.

He now supplies gas to a quarter of all Britons.

Last summer Li officially announced his succession plans and his eldest son Victor will take over management and control of the publicly traded assets.

Son Richard, also a billionaire, will get cash and help on deals.

The elder Li is an investor in Facebook, Spotify, social TV platform Stevie, Kaiima, Everything.Me and Hola.org.

Image: © Getty





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