Tang has city government experience and his election would benefit Hong Kong, Li said in an e-mailed statement today. Tang, Hong Kong’s former chief secretary, saw his popular support fall after he acknowledged the construction of an illegally built basement and an extramarital affair.
Tang is vying for the chief executive position with former government adviser Leung Chun-ying and lawmaker Albert Ho in a race that will see Hong Kong’s 1,200-member election committee choose a a new leader on March 25. Tang has pledged to tackle a widening wealth gap as public anger surges over high property prices.
Li, the Cheung Kong Holdings Ltd. (1) chairman who sits on the election committee, said he won’t withdraw his money from Hong Kong if Leung wins. Li said in his statement he was responding to media reports, without specifying where the reports were published.
Li is 14th on the Bloomberg Billionaires Index with a net worth of $25.6 billion. Nicknamed “superman” by the local media for his investing prowess, he opened a plastic flower factory following World War II and began investing in Hong Kong real estate in 1967 after riots from China’s Cultural Revolution depressed prices.
To contact the reporter on this story: Michelle Yun in Hong Kong at myun11@bloomberg.net
To contact the editor responsible for this story: Peter Hirschberg at phirschberg@bloomberg.net
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