Victor Fung
$1.1B
Born
Oct 16, 1945
Age
80
Source of Wealth
Sourcing
Residence
Hong Kong,
Citizenship
United States
Marital Status
Married
Children
3
Education
Doctorate, Harvard University; Bachelor of Arts/Science, Massachusetts Institute of Technology
- Victor Fung and his younger brother William own a significant stake in Li & Fung, which operates as a middleman between global manufacturers and retailers in the U.S. and Europe.
- Victor chaired Li & Fung until William took over in 2012. Victor's son, Spencer, became executive chairman in 2020.
- In 2020 Li & Fung was privatized through a deal worth $930 million.
- In 2022, Danish shipping giant A.P. Moller-Maersk acquired the brothers' logistics business, LF Logistics, for $3.4 billion.
- Their grandfather, Fung Pak-liu, founded Li & Fung with partner Li To-ming in 1906 by exporting porcelain and silk.
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