This afternoon, the legendary Chinese businessman Li Ka-shing officially announced his retirement. He stepped down from his position as Chairman of the Board of Directors at Changjiang Hutchison Industrial Co., Ltd., with his eldest son, Li Zezhen, taking over the role. However, at 90 years old, Li Ka-shing isn’t truly retiring. He will continue to serve as Chairman of the Li Ka-shing Foundation and as a Senior Consultant for the Yangtze River Group.
Despite stepping back from day-to-day operations, Li Ka-shing remains deeply involved in shaping the future through strategic investments. His interest in technology has been long-standing, dating back to the early 2000s when he began investing in various tech ventures through his Victoria Harbour Investment Group. Some of his notable investments include companies like Facebook, Skype, Siri, Razer, and DeepMind.
Blockchain and cryptocurrency have also captured his attention. While he is known for being cautious—especially after investing over HK$1 billion in the Bitcoin market in 2014—he has never fully dismissed the potential of digital assets. In fact, his comments on Bitcoin, where he described it as “risky,†have become a popular quote among blockchain enthusiasts, often compared to Wang Jianlin’s famous “1 billion small goal†remark.
But Li Ka-shing’s involvement goes beyond just Bitcoin. Through Victoria Harbour, he has invested in multiple blockchain startups. For example, in 2014, he invested in Bitpay, a leading cryptocurrency payment platform often referred to as the “Alipay of crypto.†Since then, Bitpay has grown significantly, with daily transaction volumes exceeding $2 million. Recently, it also partnered with Bithumb, South Korea’s largest exchange, to explore new opportunities in the cross-border payments space.
In 2016, Li Ka-shing’s group also invested in Blockstream, a company focused on developing cryptocurrency protocols and payment technologies. Blockstream has worked on projects such as micropayment systems, side chains, and even satellite-based blockchain distribution.
The rise of blockchain has created numerous success stories, with companies like Ripple gaining massive market value. Some reports suggest that Ripple’s founder may now be wealthier than Li Ka-shing himself. This shows that even the most seasoned investors can’t ignore the power of this emerging technology.
Whether optimistic or skeptical, top business leaders around the world have recognized the transformative potential of blockchain. Just as the internet revolutionized the world in the 1990s, blockchain is now reshaping industries, and Li Ka-shing’s continued involvement ensures he remains at the forefront of this evolution.
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