Victor Fung
| Victor Fung | |
|---|---|
| Born |
1945 Hong Kong |
| Nationality | Chinese/American |
| Alma mater |
Massachusetts Institute of Technology Harvard School of Business |
| Occupation | businessman |
| Net worth | $2.9 billion[1] |
| Relatives | William Fung – brother |
Victor Fung Kwok-king (Chinese: 馮國經; sometimes Victor K. Fung;[2] born 1945 in Hong Kong), GBS (2003), is the Group Chairman of Li & Fung group of companies. Together with his brother William, he owns a controlling stake of 32% in the business, which was founded by his grandfather.
He has held a number of public and other offices, including Chairman of the Airport Authority Hong Kong, Hong Kong University Council and the Greater Pearl River Delta Business Council.
Education
Fung has Bachelor of Science and Master of Science degrees in Electrical Engineering from MIT. After earning a PhD in Business Economics from Harvard Business School, he stayed there as a Professor of Finance. For his early education, he enrolled in King George V School in Hong Kong.
Career
At present, Victor Fung is the Group Chairman of Li & Fung Group, and his brother William is the Group managing director. The business was founded by their grandfather, Fung Pak-liu, in 1906 and subsequently led by their father, Fung Hon-chu.
Fung is chairman of the Hong Kong-Japan Business Co-operation Committee and co-chair of France-based The Evian Group at IMD forum and think tank. He is also chairman (2008– ) of the International Chamber of Commerce.
He was formerly chairman of the Hong Kong Trade Development Council (1991–2000) and chairman of Airport Authority.
In 2008, Fung was appointed by Donald Tsang, the Chief Executive of Hong Kong, to be the member of "Task Force on Economic Challenges" to evaluate the situation and identify new opportunities during the financial tsunami.[3] The company laid off employees to cut costs, for which he was publicly criticised.[4] Other positions in civil and public service:
- Member of Chinese People's Political Consultative Conference of People's Republic of China
- Commission on Strategic Development of the HKSAR Government
- Informal Business Advisory Body to the World Trade Organization
- Hong Kong Representative on the APEC Business Advisory Council (1996), (2001)
- Hong Kong Government Judicial Officers Recommendation Committee (?-2006)
- Chairman, Fung Global Institute[5]
Honours
- Hong Kong's Businessman of the Year 1995
- Top 25 Managers in BusinessWeek magazine 1995
- Awarded Gold Bauhinia Star (GBS) in 2003 for distinguished service to the Hong Kong community.
- Businessman of the Year 2005 Forbes Asia magazine
- One of "60 Years of Asian Heroes" (Time Asia magazine)
Personal
Fung is married with three children and like his brother William holds American citizenship.[6]
See also
References
- ↑ Forbes "#10 Victor Fung", Forbes, 2 March 2010
- ↑ "Victor K. Fung", FT Press. Retrieved 1 March 2011.
- ↑ CE appoints members of Task Force on Economic Challenges
- ↑ Li & Fung denies layoff report, will cut costs by 10%
- ↑ About FGI, institute web page. Retrieved 10 April 2012.
- ↑ http://www.forbes.com/lists/2010/10/billionaires-2010_Victor-Fung-family_OA08.html
External links
| Political offices | ||
|---|---|---|
| Preceded by Lydia Dunn |
Chairman of the Hong Kong Trade Development Council 1991–2000 |
Succeeded by Peter Woo |
| Political offices | ||
| Preceded by Wong Po-yan |
Chairman of the Hong Kong Airport Authority 1999–2008 |
Succeeded by Marvin Cheung |
| Academic offices | ||
| Preceded by Dr T. L. Yang |
Chairman of the Council of the University of Hong Kong 2001–2009 |
Succeeded by Dr Leong Che-hung |