William Fung’s profile picture

William Fung

William Fung’s profile picture
Net worth 2018: $1.5 Billion
Residence: Hong Kong, Hong Kong
Country: Hong Kong
BirthDay: 1949
Children: 3
Education: Bachelor of Arts / Science, Princeton University; Master of Business Administration, Harvard University
BIOGRAPHY

William Fung was bornon 1949 in Hong Kong, Hong Kong, Hong Kong. William Fung is #1593 in List Billionaires People In The World. William and Victor Fung's Li & Fung is a middleman between Chinese manufacturers and retailers in the U.S. and Europe. Still the world's largest supplier of clothes and toys, the company is seen as a bellwether of the global retail sector. But the brothers' fortune has fallen dramatically since 2011 as more brands take greater control of their supply chain by dealing with factories themselves. Fung Pak-liu cofounded the company in 1906 with Li To-ming, who sold his stakes to the Fungs four decades later. Pak-liu's grandson Victor chaired Li & Fung until younger brother William took over in 2012. Victor's son Spencer has been serving as Li & Fung's chief executive since 2014; in 2016 daughter Sabrina succeeded uncle William as deputy chairman of the family's menswear retailer Trinity. The other two members of the fourth generation, Victor's younger son Stephen and William's son Terence, have also been rising in the family business.

NET WORTH STATISTIC
2009

$1.7 Billion

2010

$3.5 Billion

2011

$4.4 Billion

2012

$3.8 Billion

2013

$2.6 Billion

2014

$2.5 Billion

2015

$2.2 Billion

2016

$1.6 Billion

2017

$1.5 Billion

2018

$1.5 Billion

TIMELINE
Dr. William Fung Kwok Lun, BSE, OBE, JP (Chinese: 馮國綸) (born 1949 in Hong Kong with family roots in Heshan, Guangdong) is a Hong Kong entrepreneur who is the group managing director of Li & Fung Group, one of the largest trading companies in Hong Kong.Fung was born in 1949 in Hong Kong. He attended Princeton University in its class of 1970, majoring in electrical engineering. He subsequently earned a master in business administration from the Harvard Business School.Fung is one of two sons of Fung Hon-chu, former head of Li & Fung and grandson of Fung Pak Liu, founder of the family firm. He is the younger brother of Dr. Victor Fung Kwok King, the chairman of the group.Fung joined the family firm, and he helped it expand to Taiwan, South Korea, Singapore and China.Fung is also non-executive director of HSBC Holdings and an independent non-executive director of CLP Holdings Limited, VTech Holdings Limited, Shui On Land Limited and Singapore Airlines.Dr Fung served as the international chair of the Pacific Economic Cooperation Council from 1999 to 2001.Fund endowed the "Fung Scholarship" at his alma mater, Princeton University. In 2009, he was appointed to the university's board of trustees.Fung is married with three children and, like his brother Victor, holds American citizenship.
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