Li Jiacheng'S Son Richard Lee'S Entrepreneurial Story

Richard Lee, the second richest businessman in Hongkong who has the nickname of "little Superman", is the son of Li Jiacheng. Today, when people talk about the topic of the great rich again, his father, Li Jiacheng, is probably not alone.

Richard Lee has really attracted worldwide attention since 1999.

In mid May of that year, Richard Lee bought the "Xin Xin Jia" group and renamed it to be listed on the market.

Stocks rose 23 times that day, and Richard Lee's personal wealth rose from HK $1 billion 500 million to HK $10 billion.

In the short span of a few months, the market capitalization rose to HK $about 220000000000 and became the sixth largest business in Hongkong. It is known as a miracle in Hongkong's economic circle.

Not long ago, Richard Lee completed the Asia's largest M & A case and successfully acquired Hongkong Telecom. After its acquisition, the company became a broadband Internet group with a market value of more than $70 billion. Its market value surpassed that of the long line and became the third largest market value company in the world after China Telecom and HSBC.

However, this is just the beginning. Richard Lee has a higher pursuit in his heart and creates the largest broadband Internet business in the world. He must strive for the forefront of the technological age and be brave enough to be the tide maker of the times.

Richard Lee, who graduated from the computer department of Stanford University, is especially concerned about the development of science and technology.

After returning to Hongkong, he founded satellite TV in 1990 on the basis of his belief in science and technology.

In 1993, in accordance with this belief, we used the proceeds gained from the sale of satellite TV to create the Pacific Century Development Group.

With regard to the future development of Hongkong's economy, he is still in line with this belief in proposing the establishment of a Cyberport in Hongkong so that Hongkong can stand in the forefront of the electronic age in the face of international competition.

To build satellite TV and sell it, it can be said that Richard Lee made the first very beautiful appearance in his venture, and he was four stunning.

In 1991, the Hongkong government issued a satellite TV licence. Richard Lee borrowed 500 million Hong Kong dollars from his father, and successfully voted the first satellite TV in Hongkong.

In May 1991, satellite TV was launched. In two years, it covered nearly 50 countries and regions. It has 53 million family users, and advertisers include all the famous business partners such as universal, Datong, peregrine and Cathay Pacific. Richard Lee built a satellite TV kingdom by his own efforts.

On the occasion of satellite TV's beginning to take shape and thriving business, Richard Lee, who is known as "little Superman", has Superman's action and sells the satellite TV that he has built up with all his strength.

In May 1993, on a yacht in Canada, Richard Lee was accompanied by a private consultant. He conducted an unexpected negotiation. He sold the shares of satellite TV 64% to the media magnate who was interested in developing the Chinese market and Murdoch, chairman of news group.

Richard Lee made a net profit of HK $400 million.

With the proceeds from the sale of satellite TV shares, Richard Lee made a new decision. He made a backdoor listing in Singapore and set up PCCW development. He always wanted to get out of his father's aura of Richard Lee and began to build his own door.

Richard Lee, who graduated from Stanford University in Stanford University, is very familiar with Silicon Valley's development process.

How to cope with the challenge of economic development in the world today, "the concept of Silicon Valley" prompted him to conceive the idea of building "Hongkong Silicon Valley", or "Cyberport" in Hongkong.

Richard Lee believes that after the completion of the Cyberport, Hongkong is expected to make considerable progress in software development, forming the advantages of economic development in the future, and use the concept of Silicon Valley to package real estate projects. In Hongkong, it can be said that it was first proposed by Richard Lee.

The creation of the "Cyberport" by Richard Lee, a small Superman who has been famous for many years since his debut, can be said to be a far sighted masterpiece.

In June 1998, Richard Lee formally put forward the "Cyberport" plan to the government of Hongkong.

In March 1999, Richard Lee gained the right to develop the "Cyberport" project, which became the starting point for his career to take off.

It is understood that many companies have signed a letter of intent to rent the Cyberport, including the US listed company CMGI, which is interchangeable with PCCW.

The company plans to provide facilities and technology to the Cyberport by its 55 international Internet Co. PCCW will also set up a joint venture with CMGI to develop the Internet market in Asia.

Although Richard Lee is now in the business sector, he is also a member of the strategic and international research center, the world economic forum, the International Telecommunication Union Advisory Group and the International Advisory Committee of the international development center of Harvard University.

With the above identity and its unique background, Richard Lee and the elites of science and technology have established communication channels.

It is self-evident for him to correctly judge the trend of economic development and develop his own business.

The development of the new business philosophy of Richard Lee is to put forward the concept of "network concept", that is, to drive the stock price to go up and buy the old company to complete the virtual assets materialization.

In particular, first of all, by putting forward the concept of high-tech, the company pformed into a high-tech company, and stocks became network concept stocks immediately.

With the support and advocacy of the "new economy", the share price of the network has skyrocketed, the scale of the company has expanded, and the virtual wealth has increased dramatically.

A lot of Internet companies have stopped at this point. This is their fatal mistake.

Richard Lee did not stop here. He continued to make use of the virtual assets and wealth effects of his business to successfully acquire the old companies with substantial assets and profitability, thus completing the most crucial step in the virtual assets materialization.

After obtaining the "Cyberport" information park development right, Richard Lee has adopted the method of backdoor listing to establish PCCW digital power, and subsequently acquired Hongkong Telecom. The series of business strategies adopted is a good embodiment of his new management concept.

Richard Lee, a prop named "Shun Xin Jia", is a rather unknown listed company.

With the help of Yuan Tianfan, chief executive of the former stock exchange, the share price of the "credit card" company has been rebounded from HK $0.6 to HK $15 before the news has been confirmed. The increase has been quite alarming. However, on the day of the formal announcement of the resumption of the backdoor listing, the price of "Xin Xin Jia" rose sharply from HK $0.136 to HK $3.22 in 15 minutes, rising to an astonishing 23.6 times. It immediately became an enterprise with a market value of 100 billion Hong Kong dollars, equivalent to 2/3 of the market value of Li Jiacheng Changjiang industrial group.