[li kashing] Li Ka-shing, the richest man in Hong Kong, is super concerned about Brexit — the possibility that the UK could leave the European Union after a closely contested referendum on Thursday. Li said to Bloomberg: "If Brexit happens, it will be detrimental to the UK and it will have a negative impact to the whole of Europe ... Of course I hope that the UK doesn’t leave the EU." Li is the chairman of CK Hutchison Holdings Ltd., a company that has made him the 24th richest man in the world with a net worth of $28.6 billion, according to Bloomberg. It's an energy, infrastructure, and telecom holding company that happens to derive 37% of its profit from customers in the UK. He also owns a real estate development firm. Three months ago, Li said that he would pull money out of the UK if it left the EU. This is pretty significant, given that he has said that he wants to create the biggest mobile-phone carrier in the UK. On Monday, billionaire investor George Soros, who famously shorted the British pound and "broke the Bank of England" back in the '90s, warned that Brexit could pull the pound down 20%. [bi graphics what's brexit anyway] SEE ALSO: HERE'S THE SIMPLEST WAY TO UNDERSTAND HOW A BREXIT WOULD AFFECT THE US Join the conversation about this story » NOW WATCH: FORMER GREEK FINANCE MINISTER: How I dealt with stress when Greece nearly defaulted
 |
| READ THE ORIGINAL POST AT www.businessinsider.com |
