Li Ka-Shing Chokes Up While Speaking About Hong Kong's Economy

Billionaire Li Ka-shing appeared to hold back tears while speaking about Hong Kong’s economy, underscoring the tycoon’s continued pessimism about conditions in a market that he’s described as being in its worst state in two decades.

Hong Kong’s richest man, 88, was talking about how the city’s economy was expanding at a slower pace than the rapid growth he witnessed in the past. Now, people focus on making more money and building taller buildings, he said.

Li Ka-shing on March 22

Photographer: Justin Chin/Bloomberg

The tycoon, who heads CK Hutchison Holdings Ltd. and Cheung Kong Property Holdings Ltd., said he was just getting emotional and didn’t cry. Li has also been nursing a cold, he said.

To read a Gadfly column on Li Ka-shing, click here

Li, speaking during his annual earnings press conference, earlier pointed out that tourism-related industries in Hong Kong have deteriorated in the past year. He also said that within his retail operations worldwide, Hong Kong’s performance was among the worst.

    Before it's here, it's on the Bloomberg Terminal.
    LEARN MORE