Hong Kong Billionaire Puts Another $40 Million Into Facebook
Written by on March 27th, 2008 in Ajax News.
What’s another $40 million to a billionaire? Hong Kong’s Li Ka-shing, chairman of telecom giant Hutchison Whampoa, revealed during a conference call that he has raised his stake in Facebook by another $40 million or more. This is on top of the $60 million he previously invested.
That brings his total personal investment in the U.S. social networking site to at least $100 million. No word on whether Facebook’s $15 billion valuation has changed from when Ka-shing first joined Microsoft in putting money into the company. We’re guessing not.
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Source: TechCrunch
Original Article: http://feeds.feedburner.com/~r/Techcrunch/~3/259280634/