Facebook Gets Another $60 Million
While still not officially announced there is news that Facebook got another $60 million from Chinese billionaire Li Ka-shing. He is the chairman of Cheung Kong Holdings Limited and Hutchison Whampoa Limited and is 79 years old. He has massive investments in all sorts of companies and has recently invested in more internet companies.
According to sources, Li is not making the investment in Facebook via the companies he controls, but through another investment entity. He also has the right to invest another $60 million in Facebook, meaning he will own .4 percent, and Microsoft’s 1.6%.
He has recently invested in more Internet companies, including a $45 million investment in Joost (the Internet television site founded by the co-founders of Skype). Read about him on Wikipedia and he’s right out of The Millionaire Next Door. You couldn’t tell by the way he dresses or acts that he’s one of the richest men in the world.
Ka-shing is the richest man in Asia and the ninth richest person in the world. His wealth is valued at $23 billion.
I’m not really sure why he’s invested in Facebook, but perhaps there may be some possible partnerships with his other companies (like Tom.com, a Chinese media company). Facebook is still raising capital (and I’m curious exactly what they plan to do with all the capital). Also, they are not giving Li a seat on the board – but then again Microsoft doesn’t get a seat either.