Hong Kong's Top Tycoon Li Ka-shing Strikes Big with Investment in Video Conferencing App Zoom

Holding 8.5% Stake in Zoom Worth Approximately 13 Trillion Won

▲Li Ka-shing, former chairman of Cheung Kong Hutchison Holdings (Photo by Yonhap News)

[Asia Economy Reporter Kwon Jae-hee] Li Ka-shing, the richest tycoon in Hong Kong and former chairman of Cheung Kong Hutchison Holdings, made a huge profit by investing in the American video conferencing platform Zoom.

According to Bloomberg on the 2nd, Li Ka-shing invested $36.5 million (about 43.3 billion KRW) in two rounds in 2013 and 2015, holding an 8.5% stake in Zoom.

This amounts to about $11 billion (approximately 13 trillion 460 billion KRW), accounting for about one-third of his total wealth.

This was due to the surge in Zoom's stock price driven by the special demand for non-face-to-face services following the spread of the novel coronavirus disease (COVID-19).

Zoom's stock price surged about 40% in just one day on the 1st. As of July 31, Zoom's sales increased by 355% over the past three months.

According to the Bloomberg Billionaires Index, his net worth is $32.6 billion (about 38.66 trillion KRW).

Li Ka-shing retired from management in 2018 at the age of 90 and is currently focusing mainly on philanthropic and educational activities.

This content was produced with the assistance of AI translation services.