The 98-Year-Old Tycoon’s High-Tech Gambit

Author | Yezi

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In a blockbuster move, 98-year-old business magnate Li Ka-shing has divested a major UK telecom asset, pocketing approximately HK$45.5 billion in a single transaction. The news has sparked speculation: Is the legendary investor preparing for another strategic retreat?

Contrary to superficial interpretations, this is no simple cash grab. Instead, Li is executing a sophisticated "asset transformation"—shifting capital from traditional heavy industries into cutting-edge tech sectors including AI large models, quantum computing, and synthetic biology.

Central to this strategy is Horizons Ventures, Li’s private investment vehicle.

Long managed by his trusted confidante Solina Chau with capital from Li’s private foundation, Horizons Ventures has quietly built a portfolio of AI and tech pioneers. This raises compelling questions: What vision drives Li’s empire as it pivots from "buying half of Britain" to betting on global tech’s future?

HK$45.5 Billion Exit: The Super Investor’s Heavy Asset Retreat

To decode Li’s tech ambitions, we must first examine the mechanics of his latest deal.

On May 5, 2026, CK Hutchison Holdings (00001.HK) announced the full sale of its 49% stake in UK telecom giant VodafoneThree for £4.3 billion (≈HK$45.5 billion) in cash. The target, formed through the merger of Three UK (CK Hutchison subsidiary) and Vodafone, dominates Britain’s mobile market with 28 million users and critical 5G spectrum assets.

Why sell a market leader?

The calculus is brutally practical: the business is both capital-intensive and unprofitable. As a classic infrastructure play, telecom requires relentless network investments. Financial reports reveal VodafoneThree suffered £131 million pre-tax and £98 million post-tax losses last fiscal year. Under equity accounting, CK Hutchison absorbed HK$519 million in losses over just seven months.

For Li, whose mantra is "cash flow is king," this exit represents a textbook "sell high" opportunity. The deal will generate HK$4.7 billion in disposal gains for CK Hutchison, shedding a persistent drain on resources while converting illiquid assets into war chest cash. Investors cheered the move: CK Hutchison’s stock jumped 4.13% against market trends, boosting its market cap to HK$260 billion.

This follows a pattern. In early 2026 alone, Li accelerated his European divestment spree:

• January: Sold entire stake in UK rail leasing business
• February: Cheung Kong Property and partners offloaded UK Power Networks for HK$110+ billion, setting a European utility transaction record

From power grids to trains to telecom, the message is clear: Li is systematically reducing mature heavy assets to strengthen liquidity. But this is no retreat—it’s a prelude to a high-stakes tech offensive.

1,200X Returns! The Woman Steering Li’s "Invisible Empire"

Where is this capital flowing? Enter Horizons Ventures—Li’s secret weapon.

Founded in 2002 and singularly managed by Solina Chau, Horizons Ventures is Li’s exclusive private investment arm. While CK Hutchison generates steady cash flow, Horizons Ventures operates as a high-risk, high-reward venture capital vehicle.

What has it accomplished?

Dubbed the "pioneer of global tech VC," Horizons Ventures made early bets on Facebook (2007), Siri, Skype, and Spotify. But its crown jewel remains Zoom.

In 2013, Horizons led Zoom’s Series B and followed with Series C funding two years later, totaling $8.5 million. When COVID-19 turned Zoom into remote work’s essential tool, Li’s stake soared to $11 billion—over a third of his net worth at the peak. That’s a 1,200X return.

More impressively, while Zoom’s founders and Sequoia Capital cashed out post-IPO, Li held firm, reaping maximum gains. Chau revealed Horizons’ investment philosophy: bets must either synergize with Li’s traditional businesses or tackle monumental challenges through disruptive technologies.

This explains Horizons’ AI focus. Long before ChatGPT captivated the public, Li invested in DeepMind (AlphaGo’s creator) in 2012—earlier than Elon Musk. Acquired by Google, DeepMind delivered substantial returns.

From Infrastructure to Tech Utilities: The 98-Year-Old’s Bold Shift

At 98, Li Ka-shing is doubling down on tech.

A review of the Li family’s recent investments reveals a strategic pivot: from traditional infrastructure (water, power, telecom) to digital and biological infrastructure (AI, computing, bio-computing).

In late 2023, Li donated HK$60 million to Hong Kong medical schools for AI-driven education, declaring: "AI in medical research is no longer optional." Days later, Horizons led funding for edge AI chipmaker Kneron.

By 2026, this tech offensive intensified:

• AI Infrastructure/Bio-computing: Horizons led Cortical Labs’ Series B (March 2026), a Singaporean firm developing "synthetic biological intelligence" computers by linking human stem cell-derived neurons to silicon.
• AI Applications: Horizons spearheaded Harrison.ai’s $112 million Series C (February 2025), an Australian AI medical imaging startup.
• Fintech: As an existing investor, Horizons participated in Alpaca Securities’ $150 million Series D (early 2026).
• AI Assistants: Invested in Inflection AI (valued at $4 billion), competing with Microsoft, NVIDIA, and Bill Gates.

Beyond Horizons, CK Hutchison’s listed entities are also collaborating openly. In February 2024, smart logistics platform NEXX Global—backed by a former JPMorgan banker—secured Cheung Kong Property as its first strategic investor. Leveraging AI for autonomous trucks, this marks Li’s tangible AI deployment in physical industries.

The rationale is clear: Selling UK telecom made sense because it provided traditional network infrastructure with limited growth. Investing in AI chips, bio-computers, and smart logistics makes sense because these are society’s "new utilities."

Li Ka-shing has quietly positioned himself as a global pioneer in AI and life sciences.

References:

• “Li Ka-shing Sells UK Telecom Assets, Cashing Out Approximately HK$45.5 Billion,” Jiemian News
• “Straight Line Surge! Cashing Out ~HK$45.5 Billion, Li Ka-shing Sells Again,” China Fund News
• “Raking in 1,200 Times the Investment! Li Ka-shing’s Most Successful Lifetime Bet: From $8.5M to $11B! Hillhouse, Morgan Stanley Also Profited Handsomely,” China Fund News
• “Li Ka-shing Deploys AI! His CK Asset Becomes Largest Institutional Shareholder in This AI Startup,” Global Tide of Business
• “Gobi Partners Strategically Invests in Bio-Intelligence Firm Cortical Labs, Leading the Next Computing Revolution,” Gobi Partners

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