Manage updates with the Download App
Report: Hong Kong gazillionaire increases stake in Facebook
Li Ka-shing, who acquired a $60 million stake in Facebook last year, announced in a company earnings call that he has invested another $40 million.
Li Ka-shing, the Hong Kong telecom mogul who invested $60 million in Facebook last year, has upped his stake to $100 million and may invest even more, MarketWatch reported Thursday.
Facebook was valued at an eyebrow-raising $15 billion when Microsoft purchased a 5 percent stake at $240 million.
According to MarketWatch, Li made the initial announcement during the earnings call for his company, Hutchison Whampoa. "Facebook is doing very well and we could have some synergy between the 3G services of Hutchison and Facebook, so the customers could use Facebook on mobile phones," Li reportedly said.
Among Li's other investments is peer-to-peer video start-up Joost.
