Li Zhaoji, the founder of Henderson Land Development and formerly the richest man in Hong Kong, passed away peacefully on March 17, 2025, at the age of 97. Known affectionately as "Four Uncle," Li's death marks the end of an era for the Hong Kong property market and his lasting impact on the region's development.
According to reports, he passed at home, surrounded by family members, who were there to support him during his final moments. His philanthropic efforts and dynamic real estate ventures will be remembered by many, as he was instrumental in shaping the city's skyline.
Born on February 20, 1928, in Daliang, Shunde, Guangdong, Li grew up working with his family at their silver shop, which laid the foundation for his future endeavors. After moving to Hong Kong alone with 1,000 Hong Kong dollars in 1948, he started with trading gold and quickly gained his footing, eventually co-founding Wing Yip Enterprises and then Sun Hung Kai Properties, known as the "Three Musketeers" alongside Guo Desheng and Feng Jingxi.
His business acumen became apparent during the challenging economic conditions of the 1960s, including bank collapses and social upheaval. By seizing opportunities to acquire land at low prices, Li and his partners grew their empire. Sun Hung Kai Properties went public in 1972, after which the three partners went their separate ways, leading Li to establish Henderson Land Development.
Li’s contributions to Hong Kong’s housing needs were transformative. He adapted to the changing markets and social conditions, particularly during the Asian financial crisis. Innovative sales strategies bolstered consumer confidence, such as during the 1998 downturn, when he introduced the guaranteed 20% price drop compensation plan for property buyers.
Li also had bold plans for the future of his company. By 2011, he rallied for new strategies and reorganized management to secure continued growth, ensuring his sons, Li Jiajie and Li Jiacheng, each managed key areas of the business. "Li Jiajie takes over mainland business, and Li Jiacheng takes over Hong Kong business," reported local media on his succession plans.
Despite his tremendous wealth, which reached approximately $30.3 billion, Li was famously humble and often reflected on the true value of life beyond money. "I would exchange 99% of my wealth for 30 years of youth," he stated candidly in his autobiography, highlighting his perspective on life and priorities as he aged.
Over his lifetime, Li Zhaoji accumulated multiple residential, commercial, and iconic developments throughout Hong Kong, positioning Henderson Land as one of the top real estate firms. His legacy will be remembered as one of influential growth, shrewd investments, and unwavering dedication to his family and communities.
Li's funeral arrangements will be announced once his family finalizes plans for the ceremony. He leaves behind not only his corporate empire but also significant family connections, including at least seven grandchildren and four great-grandchildren. His eldest son, Li Jiajie, has three sons of his own, adding to the legacy of the family.
Throughout his life, Li demonstrated not just business prowess, but also deep familial devotion and wisdom. He mentored many and gave back to society through various charitable endeavors. His story reminds us of the intertwining nature of wealth and responsible familial and societal relationships.
With the passing of Li Zhaoji, Hong Kong mourns the loss of a titan of industry and philanthropy. His life and impact will continue to shape the city long after his passing.
