Hong Kong Billionaire Richard Li Sells Media Publication Hong Kong Economic Journal (HKEJ) Held under Clermont Media for $8.9 Million to Hong Kong $4.4 Billion Telecommunication Giant PCCW Which is 31.8% Owned by Richard Li, Hong Kong Economic Journal was Acquired by Richard Li in 2006 for $38.5 Million
30th January 2025 | Hong Kong
Hong Kong billionaire Richard Li has sold his media publication Hong Kong Economic Journal (HKEJ) held under Clermont Media for $8.9 million (HKD 70 million) to Hong Kong telecommunication giant PCCW ($4.4 billion market value) which is 31.8% owned by Richard Li. The Hong Kong Economic Journal was acquired by Richard Li in 2006 for $38.5 million. Richard Li is the younger son of Hong Kong Billionaire Li Ka-shing. In 2024 December, the United States MetLife Investment Management announced to buy PineBridge Investments ($100 billion AUM) for $800 million (with additional $400 million contingent payments) from Hong Kong billionaire Richard Li Pacific Century Group, with the deal expected to close in 2025 and excludes PineBridge private equity funds & China joint venture with Huatai Securities ($70 billion AUM). MetLife Investment Management will have $700 billion AUM after the deal completion in 2025. In 2010, Richard Li acquired the asset management business from AIG Investments & renamed as PineBridge Investments. Also in 2024 December, Singapore headquartered insurtech bolttech has announced raising Series C funding of expected more than $100 million at $2.1 billion valuation, with investors including Dragon Fund (Liquidity & MUFG), Baillie Gifford & Lion River (Generali). bolttech was founded in 2020. The bolttech Chairman is Hong Kong billionaire & tycoon Richard Li and founder & Group CEO is ex-FWD COO Rob Schimek. In 2024 June, Richard Li insurance group FWD has been reported to be considering a Hong Kong IPO targeting valuation at $9 billion.
“ Hong Kong Billionaire Richard Li Sells Media Publication Hong Kong Economic Journal (HKEJ) Held under Clermont Media for $8.9 Million to Hong Kong $4.4 Billion Telecommunication Giant PCCW Which is 31.8% Owned by Richard Li, Hong Kong Economic Journal was Acquired by Richard Li in 2006 for $38.5 Million “
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Hong Kong Billionaire Richard Li Sells Media Publication Hong Kong Economic Journal (HKEJ) Held under Clermont Media for $8.9 Million to Hong Kong $4.4 Billion Telecommunication Giant PCCW Which is 31.8% Owned by Richard Li, Hong Kong Economic Journal was Acquired by Richard Li in 2006 for $38.5 Million
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