The eldest granddaughter of Hong Kong’s richest man Li Ka-shing has joined the family foundation in expectation of assuming a more active role in charity work, Companies Registry records show.

Michelle Li, 24, is the first daughter of Li Ka-shing’s eldest son Victor Li. She was appointed a director of the Li Ka Shing Foundation in July, according to the records. The appointment meant she would be the youngest person among the 16 directors. A spokesperson for the foundation did not respond to enquiries over her roles.

The young Li entered the family business in 2018, when she was appointed a director of Tsz Shan Monastery in Tai Po, which Li Ka-shing funded. The next year, she was named a director of Chesterfield Realty, a property company privately owned by her grandfather.

Michelle Li had been keeping a low profile until she appeared in a photo at the Happy Valley racecourse with Li Ka-shing in 2018. When Victor Li was asked about plans for his daughter to join the family business, he asked reporters to give her some space as she was young and had a lot to learn.

When Li Ka-shing announced plans in 2012 to split the family estate, Victor Li inherited the Cheung Kong conglomerate while second son Richard Li received funds to explore new businesses. The remaining part of the wealth went to the foundation, which Li Ka-shing sometimes called his “third son.”

It is estimated that the foundation, established in 1980, has more than HK$100 billion (US$12.9 billion) in assets. It has given away HK$27 billion over the years, reaching 27 countries and regions, of which 80% of the projects were based in the Greater China area. Shantou University, founded by the foundation in 1981, was a flagship project that received HK$10 billion.

The foundation also focused on medical projects, such as handing out HK$100 million to support Hong Kong’s medical workers, and another HK$180 million worth of medical supplies globally. A project was launched last year to help small businesses, giving away HK$1 billion.

Victor Zheng, a scholar at the Chinese University of Hong Kong specializing in familial heritage, told Apple Daily that with the latest appointment, Michelle Li had entered the family business in broad terms, but had yet to take over the business. He said the foundation was not a core part of the family business and was not as complex as the operation of Cheung Kong.

“At 24, she is very young. It is understandable for her to get into the family charity business first,” Zheng said. Many new-generation members of wealthy families would first work outside the family to gain experience before taking over any business, he added.

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