[Metro Journal] 5 Entrepreneurs Who Brought Hong Kong To Global Center Stage

Hong Kong, which ranks at number one position in the Financial Development Index published by World Economic Forum, is a major global financial hub. The economic freedom that it provides has enabled multiple entrepreneurs to materialize their idea into great businesses.

Young entrepreneurs bringing their new and innovative ideas find it easier to flourish in this conducive environment. Hong Kong boasts of highly educated and skilled workforce which is probably one of the most important elements in creating a successful start-up venture. In return, Hong Kong found a place for itself in the global financial center stage. We have got together a list of top 5 entrepreneurs of Hong Kong who have made it big and continue to do so.

One of the richest men in Asia, Li Ka-Shing, is a Hong Kong based investor, a business tycoon, and a philanthropist. Having an approximate net worth of US$37.7 billion, he is the chairman of CK Hutchison Holdings. Noted as one amongst the most high-ranking entrepreneurs in Asia, Li has a wide range of business portfolio that includes financial services, real estate, retail, transportation, and utilities.

Li’s multinational conglomerate, Cheung Kong Holdings, had great influence on the economy of Hong Kong and it eventually contributed to an aggregate market capitalization of 4% of the Hong Kong stock exchange. In the year 2006, he was honoured with the very first Malcolm S. Forbes Lifetime Achievement award in Singapore.

Li is also popular in Asia for being a generous philanthropist donating a sum as large as US$2.56 billion to charitable trusts and other humanitarian causes. As a result of all his contributions to the society as well as the economy, he is nicknamed as ‘Superman’ in Hong Kong.

A common name in the fashion industry, Vivienne Tam found herself making it big in the competitive and highly exclusive showbiz world. She initiated the perfect way to blend eastern culture into western fashion bridging the cultures of both the worlds.

Tam is an international designer who pioneered the impeccable approach to merge fashion with technology. She worked with Hewitt Packard and designed a special range of Vivienne Tam branded notebook computers.

Her book ‘China Chic’ is based on the concept of east meets west, like her fashion label. The book garnered a lot of positive reviews and few pieces from her collections have found their way into museums like the Victoria and Albert Museum in London, Metropolitan Museum of Art in New York, and Andy Warhol Museum in Pittsburgh, which are among the world’s most prestigious museums.

Tam was honoured with a Lifetime Achievement Award in 2016 by Beijing InStyle Expo for her exemplary work in her field and for making the eastern culture so popular and in vogue!

Michael Ying is the former chairman and chief executive officer of Esprit, a clothing brand that originated from Hong Kong.  Esprit is a global name that is a symbol of fast fashion and sophistication.

The strategies applied by Ying paid off really well by means of an increase in the sales of Esprit products by 30 times by mid-2006 with a worldwide total sales figure of HK$23.3 billion in just a little over a decade. He brought the Esprit brand to the global front leaving behind many well-known brands, at that time.

Ying is also a philanthropist and is involved in the working of his Foundation – Yanai Foundation which helps in the research and development of medical and educational fields.

A Hong Kong based business baron, Allan Zeman is also known as the Father of Lang Kwai Fong. The well-known California Restaurant took roots to suit Allan’s desire for western food; it was not in any popular street but in one of the narrow lanes of Hong Kong which later transformed into the now happening place of Lan Kwai Fong and Allan became a sought-after name in the entertainment business.

What helped Allan earn his first fortune was the business of importing trendy and in vogue clothing from Hong Kong. He went on to become the ‘Style maker of Year’ as crowned by Style Magazine that was published by the South China Morning Post.

Wang Wei shot to fame with the grand success of his express delivery firm SF Express. By providing unmatched domestic as well as international express courier services, Wang Wei made SF Express the second largest logistics company in China.

Treading through difficult times to reach your goal is something Wang Wei has taught the world. With the clear aim that he started Shunfeng (SF) Express, even the policies of the then era, which termed private courier services as illegal, didn’t deter him.

With a market cap of $38billion, SF Express is moving toward capturing more and more market space making many existing competitors uncomfortable in their own shoes.

Hong Kong Ecosystem

The entrepreneurial ecosystem in Hong Kong is commendable. It has a host of platforms for new entrepreneurs to come together and explore, The Entrepreneur’s Organization, The Entrepreneur’s Club, etc are just a few associations that have been formed to promote entrepreneurship.

Hong Kong has been put on a pedestal and has garnered all this prominence; it has opened itself to many newer budding entrepreneurs thanks to these five entrepreneurs who have built a strong foundation for the future.