Born at the finish line, but the billionaire son was raised by his father very “paradoxical”, later founded a billion-dollar empire on his own.
Billionaire Ly Gia Thanh has 2 sons, Ly Trach Cu and Ly Trach Giai. In which, Ly Trach Giai is the second child, born in Hong Kong (China) on November 8, 1966, originally from Chaozhou, Guangdong.
According to Forbes magazine, the 93-year-old capitalist owns a fortune of about 35.4 billion USD as of May 2022, thereby ranking 37th in the list of the richest people in the world and the richest person in Hong Kong. Kong (China). Therefore, his children are often referred to as “princes” because they were born right from the finish line.
However, Ly Trach Giai once revealed his father’s strict and strange upbringing. The billionaire did not let his children enjoy a luxurious life, but applied a different method.
Taught by poverty
Since his son was young, although he had his own driver and car, Mr. Ly let his son go to school by tram and bus. He also took his children to the poor area to teach them to understand poverty and sympathize with the poor.
Later, Ly Trach Giai used to live and study abroad very early. At that time, Ly Gia Thanh had become an international seaport tycoon and was famous for his wealth, but his second son in the US still had to study and work like other students from ordinary families. Sometimes it’s manual jobs like working as a cashier at McDonald’s and a golf course attendant.
Ly Trach Giai used to have a hard time studying and working like any other normal student.
The billionaire affirmed: “If you only feed your children with wealth, they will be like trees growing in a glass cage, looking big but the roots are weak. Over time, life becomes difficult. When they stumble, they will be helpless. That way, I will spoil my children.”
Thanks to that, Ly Trach Giai learned how to blend in with everyone, regardless of class. The young master of the Ly family took the initiative to live in a dormitory, in a tiny room, even though he owns a separate apartment.
A friend of Ly Trach Giai at Stanford University once revealed, “He just wants to live a simple life, not to be special. That’s why we became friends.”
Not taught how to make money
As adults, both sons of billionaire Ly Gia Thanh have shown remarkable business ability. People think this comes from the business lessons of the great father. However, Ly Trach Giai shared the exact opposite.
Ly Gia Thanh very little teaches his children the experience of surviving in the fierce marketplace, with daring business lessons. Instead, he just taught his children the morality of being human.
This was revealed in an interview, someone asked Ly Trach Giai: “What secrets did your father teach you to make money successfully?”.
Ly Trach Giai replied, “Actually, my father didn’t teach me any methods of making money. He just taught me the principles of being human.”
The 93-year-old billionaire once shared that he often brought his sons to attend company meetings since they entered college. They may not be able to fully understand what comes in the meeting, but thanks to that, they learn what business is.
Specifically, he said: “They just sit there and watch. My aim is not to teach them how to do business. But they need to know, business is not simple, it takes a lot of work, a lot of meetings and the help of many people to complete.”
In his way of dealing with people, Ly Gia Thanh also applies the same thing. When someone came to find and propose cooperation to develop the real estate market, Mr. Ly asked the other party how they wanted to share profits in this category.
The opponent only humbly gave 5% after careful calculation because he did not dare to suppress the more part. Seeing this, Ly Gia Thanh actively proposed to double the profit for the partner, ie 10%.
Through this action, the businessman helped his partner to be satisfied, extremely happy with the cooperation relationship of the two sides. In their work, they are also dedicated to redouble their efforts, contributing to the strict management of the items, preventing all acts of undermining or undercutting, causing damage to the common interests.
This is the smart, wiser point of this successful businessman. He not only made the category a success but also built a good reputation for life.
Such behavior is also the principle that Ly Gia Thanh wants to teach his son: As long as you still keep a bright mind, think for the other party, do not plan to separate, the opponent will always feel the warmth. and remember yourself first when you need to choose.
Efforts and training by yourself
Being born at the finish line doesn’t mean putting in less effort than others. Billionaire Ly Gia Thanh himself used to work 16 hours a day until he was 80 years old, so he wants his sons to have the same spirit. He always created conditions for Ly Trach Giai to study and practice with his own strength.
In 1989, Ly Trach Giai started working at Hutchison Whampoa Limited – a Fortune Global 500 company. Here, the young master of the Ly family demonstrated his business intelligence inherited from his father and was called by the title “” little superman”.
After 2 years, Ly Trach Giai came up with a completely new business idea. He founded StarTV with an investment of 400 million USD, the first satellite cable TV service in Asia.
After only 3 years, StarTV has received much success when attracting 45 million viewers from 11 million households in Asia, receiving up to 300 million USD in advertising money. At the time, it was estimated that Lee had made more than HK$5 billion in just a few years.
In 1993, StarTV was sold for $950 million, becoming the first successful deal that made Ly Trach Giai’s reputation. This is also the “first pot of gold” laying the foundation for future business.
After that, the young master of the Ly family established Pacific Century Group (PCG), an investment group in many fields such as technology, media, telecommunications, financial services… Pacific Century CyberWorks (PCCW) has become a one of the biggest telecommunications service providers in the Hong Kong market.
These achievements quickly helped Ly Trach Giai become one of the TOP 30 leading technology “giants” in the world voted by Times magazine in 1998.
In 1999, the young master with the surname Li was awarded the Outstanding Business Achievement Award by the South China Morning Post and DHL, jumping to fourth place on the Hong Kong Rich List.
In 2009, Li Zekai was also awarded the Order of China for World Excellence. The award is recommended by the International Business Daily of the Ministry of Commerce.
Later, PCG changed its name to PineBridge Investment, expanding many business activities. As of March 31, 2022, the company managed $146.0 billion in global assets for discerning investors around the world. Li Zekai becomes the Non-Executive Director of PineBridge’s current leadership team.
Up to the present time, on November 5, 2022, with a fortune of 4.7 billion USD, Mr. Ly Trach Giai ranked 18th in the list of “Hong Kong’s 50 Richest (2022)” of Forbes.
So, even though he did not inherit the family’s huge estate, the young master of the Ly family could still build his own empire, becoming a billionaire like his father, Mr. Ly Gia Thanh.
*According to Forbes, Sohu
at Blogtuan.info – Source: cafebiz.vn – Read the original article here
