Li Ka Shing, whose net worth approaches US$36 billion and who is often dubbed the “Warren Buffett of Asia,” was recently seen wearing an Apple Watch on his wrist.
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Hong Kong billionaire Li Ka Shing (R) and Zhen Xu, a professor at the University of Michigan. Photo from Xu’s LinkedIn |
A photograph shared by Zhen Xu, a professor at the University of Michigan, on her LinkedIn profile earlier this month shows Li wearing the Apple Watch, marking a departure from his usual preference for Citizen. This change has garnered attention from those who have closely observed the businessman’s longstanding, understated style.
A 2012 Forbes article recalled that when Louis Kraar, Asian correspondent for Fortune and Time magazine, met Li in the early 1990s, the billionaire was dressed in the standard dark business suit and plain tie of the Asian manager. Kraar noted that Li’s Citizen electronic wristwatch at the time cost just US$50.
By 2016, the billionaire was frequently photographed wearing a Citizen watch worth HK$500, a far cry from the more luxurious brands often associated with the ultra-wealthy.
“I don’t need to be careful,” unlike when wearing timepieces costing hundreds of thousands, he told Bloomberg in an interview in 2016.
Li, now 96, founded Cheung Kong Plastics, named after the Yangtze River, in 1950 at the age of 21 with US$6,500 in savings and loans from relatives. He has since invested in a wide range of industries, including transportation, real estate, financial services, retail, and energy and utilities.
As of Dec. 13, his net worth is estimated at US$35.9 billion by Forbes, making him the richest man in Hong Kong and the 49th-richest in the world.
