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Hong Kong's richest man to pay $14 million tuition fees for students

Li, who used to sweep factory floors as a young boy, was ranked 28th on Forbes rich list in 2019.

Hong Kong's richest man, Li Ka-Shing, will pay $14 million in tuition fees for a class of  undergraduates at Chinese university through his charitable foundation.
The Li Ka-Shing Foundation committed to pay tuition fees for up to five years for the incoming class of 2019 at Shantou University in the southern Chinese province of Guangdong.
The 90-year-old business tycoon moved to Hong Kong from Guangdong decades ago as a refugee and is worth $30.4 billion, BBC quoted Forbes reports. 
"The Foundation hopes this scheme can alleviate financial burdens for families and encourage the pursuit of personal interests and further learning to better prepare graduates for the challenges of an increasingly complex global economy," the foundation said in a statement.
Li, who used to sweep factory floors as a young boy, was ranked 28th on Forbes rich list in 2019. The 90-year-old business magnate retired last year from his businesses CK Hutchison Holdings and CK Asset Holdings groups involved in sectors including retail, telecoms and power. Now, his eldest son Victor Li heads the business empire.
Li was knighted by the UK in 2000, and earned the nickname "Superman" for his business and investment success. Last month, American billionaire, Robert F Smith, announced he would pay the loans of a US college class, thought to be worth $40 million, and benefitting nearly 400 students.