Early Life
Victor Fung Kwok-king was born in Hong Kong on October 16, 1945. He received his early education at King George V School in Hong Kong. Fung's academic journey led him to the Massachusetts Institute of Technology (MIT), where he earned Bachelor of Science and Master of Science degrees in Electrical Engineering. He furthered his education at Harvard University, obtaining a Ph.D. in Business Economics.
Rise to Success
After completing his Ph.D., Fung taught as a professor of finance at Harvard Business School before returning to Hong Kong in 1974 to join the family-owned Li & Fung Group. He became the Group Chairman, along with his brother William, owning a controlling stake of 32% in the business. Under his leadership, Li & Fung grew into a global leader in supply chain management.
Key Business Strategies
Victor Fung played a crucial role in transforming Li & Fung into a global supply chain giant. The company focuses on connecting manufacturers with retailers worldwide. His strategies emphasized innovation, digital transformation, and adapting to the changing retail landscape.
Philanthropy
Victor Fung is actively involved in philanthropy through the Fung Group, with a focus on education. He and his brother, William, have made numerous donations to educational institutions, including Harvard, Tsinghua University, and MIT. They also support the Fung Scholars Programme, providing opportunities for gifted youngsters to experience different cultures.