One-Third of Li Ka-shing’s Wealth Is an $11 Billion Zoom Stake
- Li’s holding in video-conference app has surged in value
- Solina Chau helped pick the investment, among other tech bets
Li Ka-shing
Photographer: Anthony Kwan/BloombergThis article is for subscribers only.
Li Ka-shing’s Hong Kong business empire may be struggling, but he’s managed to remain the city’s richest man. That’s largely thanks to an early bet on Zoom Video Communications Inc. and Solina Chau, his long-time confidante who co-founded the billionaire’s venture-investment arm.
The tycoon, who’s best known for building some of the most iconic skyscrapers to dot Hong Kong’s skyline, first invested in the video-conferencing app in 2013. The 92-year-old now holds 8.5% of the San Jose, California-based company, a stake that’s worth $11 billion, or one-third of his wealth.