Asia's second richest person retires

Asia's second-richest person, Hong Kong's Li Ka-Shing, is retiring from leading his business empire. The 89-year-old chairman of CK Hutchison Holdings Ltd. and CK Asset Holdings Ltd. will stay an adviser to the group after stepping down in May. Elder son Victor, 53, will take over a conglomerate that touches the lives of practically everyone in Hong Kong -- the family’s Power Assets Holdings Ltd. generates their electricity and ParknShop supermarkets sell their groceries. The group also operates mobile-phone stores and Superdrug and Savers in the U.K., owns ports around the world and a controlling stake in Husky Energy Inc. in Canada. The only person in Asia richer than Li, according to Forbes, is India's Mukesh Ambani. Li was ranked 23rd in the 2018 Forbes rich list. Li Ka-Shing's life journey started from humble beginnings. He started work sweeping factory floors as a young boy.