Media Pack Gets Ready For 'superman's' Retirement

A throng of media personnel gathered around tycoon Li Ka-shing's residence in Deep Water Bay on Thursday morning, as the man fondly known as 'superman' got ready to officially step down from his job.

The 89-year-old chairman and executive director of CK Hutchison announced in March that he would hand over the reins to eldest son, Victor after his company shareholders' meeting.

In a telephone conversation with reporters waiting outside his house, Li said he is happy to be stepping down from his business empire.

But he said he still has a lot of work to do after retirement, including running his charity foundation.

Li, who is one of the richest men in Asia, also expressed confidence in his son. As of January 2018, Li is the 23rd richest person in the world, with an estimated net worth of US$37.7 billion.

He will hold a news conference after a shareholders' meeting this afternoon.