Victor Fung (businessman)
Victor Fung Kwok-king | |
|---|---|
| Born | 1945 Hong Kong |
| Occupation | Businessman |
| Years active | 1974–present |
| Known for | Group Chairman of Li & Fung |
Victor Fung Kwok-king (; also known as Victor K. Fung; born 1945 in Hong Kong) serves as the Group Chairman of the Li & Fung conglomerate. Together with his brother William, he possesses a 32% ownership interest in the firm, which was originally established by their grandfather.
He has undertaken prominent public service roles, including leadership positions as chairman of the Airport Authority Hong Kong, the Hong Kong University Council, and the Greater Pearl River Delta Business Council.
Education
Fung earned both Bachelor and Master of Science degrees in electrical engineering from the MIT. He further obtained a doctorate in business economics from Harvard Business School, where he also contributed as a finance faculty member.
As the eldest child of Fung Hon Chu and Lee Pui Yiu, he represents the third generation of the Fung family engaged in Li & Fung’s operations. His early education took place at King George V School in Hong Kong, after which he excelled in the University of London Entrance Examination in 1962. Subsequently, he pursued studies at MIT, completing a Bachelor's degree in Industrial Management and a Master's degree in Electrical Engineering by 1966. In 1970, he finalized his PhD at Harvard and returned to Hong Kong four years later to join the family enterprise. Alongside his brother Fung Kwok Lun, they collectively control 70% of Li & Fung’s shares.
Career
Currently, Victor Fung holds the position of Group Chairman at Li & Fung, while his brother William acts as Group Managing Director. The company traces its origins to their grandfather, Fung Pak-liu, who founded it in 1906; it was subsequently led by their father, Fung Hon-chu.
Fung leads the Hong Kong-Japan Business Co-operation Committee and serves as co-chair of the France-based think tank The Evian Group at IMD. Since 2008, he has been the chairman of the International Chamber of Commerce. His previous leadership roles include chairmanships at the Hong Kong Trade Development Council (1991–2000) and the Airport Authority.
In response to the 2008 financial crisis, Fung was appointed by Hong Kong’s Chief Executive Donald Tsang to serve on the "Task Force on Economic Challenges" in 2008. During this challenging period, Li & Fung implemented staff reductions aimed at cost savings, a decision that faced public scrutiny.
Personal
Fung is married with three children and holds citizenship in the United States.