The Hong Kong-based company CK Hutchinson, led by billionaire Li Ka-shing, recently announced a deal to sell majority stakes in two ports on the Panama Canal. The deal with a consortium of investors led by BlackRock pleased President Donald Trump, after he had expressed interest in regaining control over the canal. But, as WSJ’s Rebecca Feng reports, the $22.8 billion deal also angered Chinese leader Xi Jinping, who saw the ports as a bargaining chip with the United States. Allison Pohle hosts. Further Listening: - China Unleashes a Trade War Arsenal - The Trade War With China Is On Sign up for WSJ’s free What’s News newsletter. Learn more about your ad choices. Visit megaphone.fm/adchoices
Who is Li Ka-shing and why is he called 'Superman' of investing?
Hey, it's Jess. I'm here to say that my colleague, Alison Poley, is here again to guest host today's episode. Enjoy. In the glittering financial center of Hong Kong, a land known for its concentration of ultra-rich, one billionaire outshines them all. Billionaire entrepreneur Li Ka-shing.
Hong Kong tycoon Li Ka-shing.
Billionaire Li Ka-shing. Li Ka-shing. Li Ka-shing. Multi-billionaire Li Ka-shing.
Li Ka-shing is an investing icon. The 96-year-old tycoon is worth $36 billion and is the richest man in Hong Kong. A businessman so revered in Asia, he's earned an epic nickname.
Actually, in Hong Kong, people kind of gave him the nickname of Superman just because he's just so good at doing deals over the years and always at perfect timing. So he's Superman. That's our colleague, Rebecca Fung. He's kind of like the Warren Buffett of Asia. You know, Buffett is 94, he's 96.
When Li Ka-shing does anything, everyone stops to try to figure out what's happening and what's the meaning behind it.
Frequently, reporters would quiz Li Ka-shing about his economic forecasts.
all sorts of questions about Hong Kong economy, global economy, and he's just giving his take. How does he feel about mainland Chinese investors investing in Hong Kong? Is the U.S. Federal Reserve going to cut interest rate? The analysts and journalists were just asking his take on anything.
For a long time, Li was prominent in both Hong Kong and mainland China. He was an early investor in China's economy, and Beijing courted him for his money and fame. And for decades, he's rubbed shoulders with Chinese leaders. Which is why, in recent weeks, attacks from Chinese media on Li Ka-shing have been so jarring.
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