Another $60 Million For Facebook
Kara Swisher is reporting that Facebook has grabbed another investor - $60 million from Hong Kong billionaire Li Ka-shing.
While a lot of people were beginning to doubt Facebook’s ability to raise more money after getting a lofty $15 billion valuation following a $240 million investment from Microsoft last month, it seems the stakes are not too high for Hong Kong billionaire Li Ka-shing, who has made an investment of $60 million in the hot social networking company, according to sources with knowledge of the transaction.
The 79-year-old Ka-shing is the richest person of Chinese descent in the world, one of the richest and most influential investors in Asia, and the ninth richest man in the world according to Forbes with an estimated wealth of $23 billion on March 6, 2007. Presently, he is the Chairman of Hutchison Whampoa Limited (HWL) and Cheung Kong Holdings in Hong Kong.
Considered one of the most powerful figures in Asia, Li was named "Asia's Most Powerful Man" by Asiaweek in 2001. Forbes Magazine and the Forbes family honored Li Ka-shing with the first ever "Malcolm S. Forbes Lifetime Achievement Award" on September 5, 2006, in Singapore. In spite of his wealth, Li has a reputation for leading a no-frills lifestyle, and is known to wear simple black dress shoes and an inexpensive Seiko wristwatch. Li is also regarded as one of Asia's most generous philanthropists, donating over $1 billion USD to date to charity and other various philanthropic causes.
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