FIRST AIRED: March 16, 2018

Nice work! Enjoy the show!

×

You’re busy. We get it.

Stay on top of the news with our Editor’s Picks newsletter.

US Edition
Intl. Edition
Unsubscribe at any time. One click, it’s gone.

Thanks for signing up!

×

Transcript

00:00:01
>> One of the world's richest tycoons, Li Ka-shing, is retiring at the age of 89. Li is Hong Kong's richest man, he announced Friday he's stepping down from his business empire effective May 10th.>>
FOREIGN]
> Li has named his eldest son, Victor, as his successor, marking the end of an era for an iconic Hong Kong conglomerate.
00:00:21
This is my legacy.>>
00:00:42
And a rags to riches story that matched Hong Kong's rise from a trading outpost to a top financial center. Li was a penniless immigrant when he arrived in 1940, now he's worth over $35 billion. In recent years, his ties with China's Communist party leadership have come under fire, he's never voiced over criticism in public.
00:01:05
News of Li's retirement came with good results at some of his biggest firms, Cheung Kong's real estate arm saw 2017 profits surge 55%.>>