Like Father, Like Son

Hong Kong's Richard Li takes over a telecom giant and steps away from the shadow of billionaire Li Ka-shing

There are a lot of Lis in Hong Kong, but only one Li Ka-shing. Li is a billionaire and a major player in the real estate market, and in retail, telecommunications and power generation. His port operation handles 30% of Hong Kong's trade. His nickname in the press is Superman. Now comes Superboy: Li's son Richard, 33. Last month, Richard took over Cable & Wireless HKT, the territory's telecom giant, using an Internet company he started only 11 months ago called Pacific Century CyberWorks. The deal, valued at $38 billion, was Asia's biggest takeover ever.

Richard's spanking new empire is starting...

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