Tycoon, billionaire and empire-builder Li Ka-shing retires

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Li Ka-shing, a prominent billionaire in Asia, announced his retirement Friday from the business empire that he built over nearly seven decades.
Li, 89, will officially step down as chairman of Hong Kong conglomerate CK Hutchison and property giant CK Asset after the annual general meeting on May 10, the tycoon said at a media conference.
He will continue to serve as senior advisor to the company, he said.
"I would like to express my heart-felt appreciation to our shareholders for their unfailing confidence and support in the past years," Li said from a news conference in Hong Kong.
Li will be succeeded by his eldest son, Victor Li, who was named as "successor in principle" last year.
The younger Li, 53, is currently the deputy chairman of CK Hutchison and CK Asset.
Li said he was confident in his son`s ability to take charge, highlighting his many years of experience.
He also told reporters that he felt "grateful and blessed" that he was able to create CK Holdings, able to create wealth for shareholders and give back to society.

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