Early Life
Victor Fung Kwok-king was born on October 16, 1945, in Hong Kong. He is a US citizen. Fung's early education included attending King George V School in Hong Kong. He earned Bachelor of Science and Master of Science degrees in electrical engineering from MIT and a PhD in business economics from Harvard Business School. He later became a professor of finance at Harvard.
Rise to Success
Fung's career is closely tied to Li & Fung, a global supply chain management company. Founded by his grandfather in 1906, Victor and his brother William took the helm after studying in the US and returning to Hong Kong in the 1970s. Victor Fung served as the Group Chairman of Li & Fung. The company expanded significantly under their leadership.
Key Business Strategies
Li & Fung focused on supply chain management, connecting global manufacturers with retailers. Key strategies included: Breaking down the manufacturing process to find the best suppliers for each stage, and building a vast network of sourcing offices in numerous countries. The company adapted to the evolving market by embracing digitalization and restructuring. Fung also chairs Fung Investments, the Fung Family's private investment arm, which focuses on investments poised to transform retail, supply chain, and logistics.
Philanthropy
Victor Fung, along with his brother William, is a dedicated philanthropist. Through the Victor and William Fung Foundation, they have made numerous donations to educational institutions like Harvard, Tsinghua University, and MIT. The Foundation also supports the Fung Scholars Programme, which provides opportunities for young people to experience different cultures, and promotes Asian thinking through The Asia Global Institute at The University of Hong Kong. He is also Chairman of the 2022 Foundation, which researches Hong Kong's long-term competitiveness.
