Hong Kong billionaire Li Ka-shing, whose rags-to-riches story paralleled the spectacular rise of the Asian financial centre, said Friday he will retire as chairman of his sprawling conglomerate and hand control to his eldest son. “It’s my greatest honour.”CK Hutchison Holdings was formed after he combined his property firm Cheung Kong with his conglomerate Hutchison. He will remain as a senior adviser while his eldest son, Victor Li, a managing director, will become chairman, the company said. Li has been Hong Kong’s wealthiest individual for two decades, according to Forbes, which estimates his net worth at $36 billion. On Friday, he discussed the property market and his stock market investment strategy.

Source: National Post March 16, 2018 09:22 UTC