Cry for Richard Li

He sold too soon a huge stake in Tencent.

From an FT reader commenting on an article on Richard Li who is now in the biz of building a major Asian life insurer (FWD) to challenge the likes of AIA. (Btw, his insurtech, subset of fintech, biz is based here.)

Richard Li never made it as a tech investor. But he came tantalizingly close, once. Back in the late 1990s his company PCCW happened to invest in a small nobody company in what was then the Wild West Chinese border town of Shenzhen. This nobody company was called Tencent. At one point, Mr Li owned something like 40% of it, for which of course he paid peanuts. But then, in 2001, he sold his entire stake to a bunch of nobody South Africans that no one had ever heard of, doubling his amount of peanuts in the process. We know the South African buyer today as Naspers, whose investment in Tencent entered the record books as the most successful venture capital investment ever made.

Really unlucky chap despite being born with a silver spoon in hisa mouth.


Cynical Investor

Cynical Investor blogs at Thoughts of a Cynical Investor




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6 Responses to “Cry for Richard Li”

  • Bad Boy:

    Richard Li, … If his father is not Li ka shing , but another li guess what will be his status today ?

    There’s this not so nice term called 啃老族 in asia.

    But if one look at it carefully this 富二代 no different from 啃老族 except his father possess huge wealth..

    Everybody the same , all this court case of siblings suing each other over family fortune or the commoners over parents CPF or flats.

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  • Harder Truths:

    Did he do NS?
    Does he live comfortably with no problems overseas?

    Then why the f**k should I pity him?

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  • Rabble-rouser:

    @ CI:
    Old man Li Ka-Shing had extraordinary “Investment” powers that fellow HK investors & Stockmarket followers had dubbed him “Superman”.
    But his son Dicky (Richard Li) either suffered from Premature Profit-taking in his investment (Tencent) or suffered a stock version of an Erectile Dysfunction while vigorously “pumping up his Pacific Century” flagship – where is it now? A deflated version of a sex doll thrown away without fulfillment.
    A genetic flaw of a son compared to the father!

    It’s the same here for S’pore – we once had a “Strongman” who said something like this, “Put me in a cul-de-sac with my opponents – I’ll put on my knuckle dusters & we’ll see who comes out from this Street fight” or something to that effect.
    Many politicians even admired his brand of politics & some even sought to emulate & embrace his style re: Deng Xiaoping who even seek out “Strongman” to be a “Sempai” 先輩 to mentor his country in the art of “Socialist Capitalism”. The rest is history or rather, never mind the history lessons!

    But when we scroll into the current day scenario: “S’pore isn’t even a country nor the people, economic participants inside a dynamic sphere. World leaders see S’pore for what it is; in 2nd BRI, G20 summits, u-noe-who is positioned in the furtherest fringes of the group photo taking session. An indictment of S’pore’s increasingly economic irrelevance & a poor profile of how the world see S’pore’s leadership inspite of the riches they purport to command for their brilliant governance & god-like qualities!” for “S’pore is a personal fiefdom contingent upon absolute control”; Agree or not?
    Even the question of one’s wife salary in a Quasi-Public Institution had become a “no-fly” zone:
    Even his baby brother who is embroiled in a messy family dispute over his father’s house questions:

    It seem the question of (a wealth class or aristocracy) genes or genetic disposition (to make money or to rule) is a flawed presumption throughout history. They don’t quite flow from one generation to the next generation because the “nurture vs nature” question. Agree or not?

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  • TruBlu:

    isnt this chap another rich crook?

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  • copy and paste:

    typical of pap IB. trying to attract via anything that sounds right but is actually full of useless shit. a waste piece of human shit. pity his papa pity his mama who produced the piece of shit.

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  • CH:

    He lied about his academic qualification as Standford university graduate. It was an offense as public listed company CEO. but i did not did anything happen to him.

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