Tripti Joshi (Editor)

Victor Fung

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Nationality
  
Chinese/American

Occupation
  
businessman

Siblings
  
William Fung

Relatives
  
William Fung – brother

Nephews
  
Terence Fung

Name
  
Victor Fung


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Born
  
1945
Hong Kong

Alma mater
  
Massachusetts Institute of TechnologyHarvard School of Business

Education
  
Harvard Business School, Harvard University, Massachusetts Institute of Technology

People also search for
  
William Fung, Cheng Yu-tung, Spencer Theodore Fung

Net worth
  
1.95 billion USD (2015)

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Victor Fung Kwok-king, GBS (Chinese: 馮國經; sometimes Victor K. Fung; born 1945, Hong Kong) is the Group Chairman of Li & Fung group of companies. Together with his brother William, he owns a controlling stake of 32% in the business, which was founded by his grandfather.

Contents

He has held a number of public and other offices, including Chairman of the Airport Authority Hong Kong, Hong Kong University Council and the Greater Pearl River Delta Business Council.

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Education

Fung has Bachelor of Science and Master of Science degrees in Electrical Engineering from MIT. After earning a PhD in Business Economics from Harvard Business School, he stayed there as a Professor of Finance. For his early education, he enrolled in King George V School in Hong Kong.

Career

At present, Victor Fung is the Group Chairman of Li & Fung Group, and his brother William is the Group managing director. The business was founded by their grandfather, Fung Pak-liu, in 1906 and subsequently led by their father, Fung Hon-chu.

Fung is chairman of the Hong Kong-Japan Business Co-operation Committee and co-chair of France-based The Evian Group at IMD forum and think tank. He has been chairman since 2008 of the International Chamber of Commerce. He was formerly chairman of the Hong Kong Trade Development Council (1991–2000) and chairman of Airport Authority.

In 2008, Fung was appointed by Donald Tsang, the Chief Executive of Hong Kong, to be the member of "Task Force on Economic Challenges" to evaluate the situation and identify new opportunities during the financial tsunami. The company laid off employees to cut costs, for which he was publicly criticised.

Other positions in civil and public service:

  • Member of Chinese People's Political Consultative Conference of People's Republic of China
  • Commission on Strategic Development of the HKSAR Government
  • Informal Business Advisory Body to the World Trade Organization
  • Hong Kong Representative on the APEC Business Advisory Council (1996), (2001)
  • Hong Kong Government Judicial Officers Recommendation Committee (?-2006)
  • Chairman, Fung Global Institute

    • Honours

  • Hong Kong's Businessman of the Year 1995
  • Top 25 Managers in BusinessWeek magazine 1995
  • Awarded Gold Bauhinia Star (GBS) in 2003 for distinguished service to the Hong Kong community.
  • Businessman of the Year 2005 Forbes Asia magazine
  • One of "60 Years of Asian Heroes" (Time Asia magazine)

    • Personal

    Fung is married with three children and like his brother William holds American citizenship.

    References

    Victor Fung Wikipedia
    (Text) CC BY-SA