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#3283

William Fung

Source of wealth: Sourcing

Net Worth

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Earnings per second

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Modules

Biography

William Fung and his older brother Victor own a significant stake in Li & Fung, which operates as a middleman between global manufacturers and retailers in the U.S. and Europe.

William stepped down as chairman of Li & Fung in 2020 when Victor's son, Spencer, took the helm.

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, exporting porcelain and silk.

Financial Assets

Exchange
HONG KONG
Ticker
3328-HK
Company
Bank of Communications Co., Ltd
Exchange
HONG KONG
Ticker
1123-HK
Company
China-HongKong Photo Products Holdin
Exchange
HONG KONG
Ticker
2-HK
Company
CLP Holdings Ltd.
Exchange
HONG KONG
Ticker
831-HK
Company
Convenience Retail Asia Ltd.
Exchange
HONG KONG
Ticker
787-HK
Company
Global Brands Group
Exchange
LONDON
Ticker
HSBA-GB
Company
HSBC Holdings PLC
Exchange
HONG KONG
Ticker
1346-HK
Company
Lever Style Corporation
Exchange
HONG KONG
Ticker
272-HK
Company
Shui On Land Ltd.
Exchange
HONG KONG
Ticker
16-HK
Company
Sun Hung Kai Properties Ltd.
Exchange
HONG KONG
Ticker
891-HK
Company
Trinity Limited
Exchange
HONG KONG
Ticker
303-HK
Company
Vtech Holdings

The Great Lie of Mega-Fortunes: The Case of William Fung

Billionaires are often presented under the romantic myth of the 'self-made person': a narrative designed to justify opulence as the natural reward for hard work, effort, or ingenuity. However, when confronting such extreme volumes of wealth with macroeconomic reality, the meritocracy narrative completely breaks down. No individual can legitimately generate through personal effort a fortune equivalent to millions of times the average working-class salary. Capital at the top does not grow because of exceptional talent; it expands through an implacable dynamic where accumulated money works exponentially faster than people, devouring the wealth generated by productive labor.

The immense fortune of William Fung, linked to Logistics and 'Sourcing', has not been built in a free-market vacuum, but through rent-seeking, the use of exclusive elite influence, the consolidation of monopoly positions, or inherited wealth. Far from taking real private risks, billionaire empires structurally depend on state support through direct subsidies, infrastructure use, exploitation of R&D, public contracts, and offshore tax engineering. While this wealth is equivalent to the physical weight of 7 tons of pure gold, the rest of the planet suffers from an artificial scarcity of basic resources. The fact that this wealth is enough to fully fund the public health system of DR Congo, a country with more than 105800000 million inhabitants for 0.5 years, proves that unlimited accumulation is not an entrepreneurial achievement, but the hijacking of democratic sovereignty.

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