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Zoom buoys Li Ka-shing back to top of Hong Kong's rich list

Videoconferencing company's pandemic boom pays off for tycoon

Hong Kong "Superman" Li Ka-shing has continued to show investing savvy even after his 2018 retirement from his flagship companies.   © Reuters

HONG KONG -- Li Ka-shing regained the crown of Hong Kong's richest person last year, according to Forbes' 2021 list, thanks to an investment in Zoom Video Communications that helped boost his net worth by 20% to $35.4 billion.

Zoom has been a big winner in the coronavirus economy as companies turn to its videoconferencing service instead of face-to-face meetings, and its Nasdaq-listed shares soared nearly fivefold last year. The stake held by Li, an early investor in the company, accounts for roughly 20% of his net assets.

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