You will be redirected back to your article in seconds

Li invests in Facebook

Businessman puts $60 million in site

HONG KONG – Billionaire Hong Kong businessman Li Ka-Shing (second ref: Li) has reportedly invested $60m buying a stake in social networking website Facebook.

Deal would appear to give Li no more than a 0.4% stake in the company, though press reports say that he has an option to invest a further $60 million. Agreement may pave the way for cooperation between Facebook and Tom.com, an Internet group that Li controls.

Microsoft recently paid $240 million for a 1.6% stake, which would value Facebook at $15 billion.

Li appears to have bought the stake through a company other than his main Hutchison Whampoa and Cheung Kong vehicles, though he did not offer any further details.

More Scene

  • 'Atlanta' TV show premiere

    'Atlanta Robbin' Season' Will 'Show What Makes the City Tick,' Producer Says

    HONG KONG – Billionaire Hong Kong businessman Li Ka-Shing (second ref: Li) has reportedly invested $60m buying a stake in social networking website Facebook. Deal would appear to give Li no more than a 0.4% stake in the company, though press reports say that he has an option to invest a further $60 million. Agreement […]

  • Mr Chow 50th Anniversary celebration

    Mr. Chow 50th Anniversary Party Draws Stevie Wonder, Heidi Klum & More Stars

    HONG KONG – Billionaire Hong Kong businessman Li Ka-Shing (second ref: Li) has reportedly invested $60m buying a stake in social networking website Facebook. Deal would appear to give Li no more than a 0.4% stake in the company, though press reports say that he has an option to invest a further $60 million. Agreement […]

  • Paley Center for Media presents They

    African-American Showrunners Talk Strides in TV Representation

    HONG KONG – Billionaire Hong Kong businessman Li Ka-Shing (second ref: Li) has reportedly invested $60m buying a stake in social networking website Facebook. Deal would appear to give Li no more than a 0.4% stake in the company, though press reports say that he has an option to invest a further $60 million. Agreement […]

  • 'Annihilation' film premiere

    'Annihilation' Star Jennifer Jason Leigh Responds to Whitewashing Accusations

    HONG KONG – Billionaire Hong Kong businessman Li Ka-Shing (second ref: Li) has reportedly invested $60m buying a stake in social networking website Facebook. Deal would appear to give Li no more than a 0.4% stake in the company, though press reports say that he has an option to invest a further $60 million. Agreement […]

  • Viola Davis Women in the World

    Viola Davis on #MeToo: 'If You're Dedicated to Change, Let It Cost You Something'

    HONG KONG – Billionaire Hong Kong businessman Li Ka-Shing (second ref: Li) has reportedly invested $60m buying a stake in social networking website Facebook. Deal would appear to give Li no more than a 0.4% stake in the company, though press reports say that he has an option to invest a further $60 million. Agreement […]

More From Our Brands

Access exclusive content