Richard Li

Richard Li Tzar-kai, a Hong Kong businessman and philanthropist, is the founder and chairman of Pacific Century Group (PCG). With an estimated net worth of $4.5 billion in 2020, Li has had a successful career spanning various industries.

Born in 1966 in Hong Kong, Li is the son of businessman Li Ka-shing. He attended St. Paul's Co-educational College in Hong Kong before studying computer engineering at Stanford University. Li withdrew from Stanford after three years due to personal reasons.

Li's career began in Toronto, Canada, where he managed funds at an investment bank. In the 1980s, he acquired Canadian citizenship and later worked in the fund-management department at Hutchison Whampoa in Hong Kong, where he held various positions including executive director and deputy chairman.

In 1990, Li founded STAR TV, a pan-Asian satellite-television network. He sold STAR TV to Rupert Murdoch for a total of USD$950.5 million in 1993 and 1995. In the same year, Li founded Pacific Century Group (PCG) and has since served as its CEO and chairman. PCG has made significant investments in real estate, financial services, technology, and media & telecommunications.

Li's notable achievements also include establishing Pacific Century CyberWorks (PCCW) in 1996, which became the largest fixed-lined network and wireless operator in Hong Kong after acquiring Cable & Wireless HKT for US$38 billion in 2000.

Under Li's leadership, PCG acquired AIG Investments for around $500 million in 2009 and renamed it PineBridge Investments. Additionally, in 2013, PCG acquired the Hong Kong, Macau, and Thailand insurance business of ING Groep N.V. for $2.1 billion and renamed it FWD Group. FWD Group expanded its operations through acquisitions and became a prominent player in the insurance industry by 2016.

In recent years, Li has focused on expanding FWD Group in Southeast Asian markets and oversaw the establishment of the first licensed virtual bank in Hong Kong. He has also launched 5G wireless services and the insurance group bolttech in 2020.

Besides his business ventures, Li has served on various boards and held public positions. He is a member of the Global Information Infrastructure Commission, the United Nations, and the Center for Strategic and International Studies' International Councillors Group in Washington DC. He has also been recognized for his philanthropic endeavors, including donations to charitable organizations and relief efforts during the SARS outbreak and COVID-19 pandemic.

Overall, Richard Li Tzar-kai's entrepreneurial success, philanthropy, and contributions to the finance industry make him a significant figure in the business world.

Additionally, Li's personal life includes being a licensed pilot and divemaster. He has three sons and famously bought his own top-level domain (.richardli) for $250,000 in 2016.