Early Life
Richard Li Tzar-kai was born in Hong Kong in 1966, as the youngest son of the renowned businessman Li Ka-shing. He attended St. Paul's Co-educational College in Hong Kong before pursuing computer engineering at Stanford University, though he later withdrew. Li's early experiences included working at McDonald's and as a caddy, demonstrating a strong work ethic from a young age.
Rise to Success
Li's career began in the fund management division of Hutchison Whampoa. In 1990, he founded STAR TV, a pan-Asian satellite-television network, which he later sold to Rupert Murdoch. The proceeds from this sale fueled the creation of Pacific Century Group (PCG) in 1993. Under his leadership, PCG made significant investments in diverse sectors, including real estate, financial services, technology, and media. In 1996, he established Pacific Century CyberWorks (PCCW), later becoming Hong Kong's largest fixed-line network and wireless operator. Through PCCW, Li spearheaded the acquisition of Cable & Wireless HKT and the establishment of HKT Trust.
Key Business Strategies
Richard Li's business strategy has been marked by strategic acquisitions and a focus on emerging markets. PCG's acquisition of AIG Investments, which was then renamed PineBridge Investments, and the acquisition of ING Groep N.V.'s insurance business, which was rebranded as FWD Group, exemplify his approach. Li also focused on the expansion of FWD Group in Southeast Asian markets and launched 5G wireless services and the insurance group bolttech in 2020.
Philanthropy
Richard Li has demonstrated a commitment to philanthropy, providing support during the SARS outbreak and the COVID-19 pandemic. Through PCCW, he has overseen various relief efforts and charity programs, including providing telecommunication services to patients and medical staff, and donating to the Business Community Relief Fund for Victims of SARS.
