Richard Li founded Pacific Century Group (PCG) in 1993, an Asia-based long-term private investment group with interests across three core business pillars – financial services, technology, media & telecommunications (TMT), and property. In 1996, Pacific Century CyberWorks (PCCW) is founded, and was later renamed to PCCW Limited. Four years later, PCCW acquired Cable & Wireless HKT, formerly known as The Hong Kong Telephone Company Ltd., and formed the company with businesses in telecommunications, media, IT solutions, property development and investment, and other businesses.

In 2006, Li donated CA$1 million to the Canadian National Arts Centre Foundation, which led to the establishment of the Annual Richard Li Young Artist Chair, putting young musicians each year under the mentorship of musical maestros.

Later, in 2007, under Li’s direction PCCW volunteers participated in the District Elderly Campaign sponsored by the Oriental Daily News Charitable Fund, the Sun Charitable Fund, and Po Leung Kuk. The campaign’ mission was to deliver gift packages to the elderly living in the Lower Ngau Tau Kok Estate.

In September 2009, Li bought the asset management operations of AIG, AIG Investments, for around $500 million. Renamed PineBridge Investments, the business currently has approximately $85.5 billion of assets under management as of 30 June 2017.

In April 2009, Isabella Leong, Li’s girlfriend and a former Hong Kong singer, gave birth to his son, Ethan Li. In June 2010, Leong gave birth to Li’s twin sons in San Francisco.

In June 2011, Hong Kong’s stock exchange approved the carve-out of the telecommunications and mobile assets of PCCW, which also has broadband television, IT solutions and property businesses. In September 2011 the final hurdles were cleared by Hong Kong’s stock exchange for PCCW to list its telecommunications assets as HKT Trust, the city’s first publicly traded share stapled units. On 12 October 2011 PCCW shareholders approved the plan. Li’s involvement in the 2011 initial public offering of HKT Trust saw the company raise around $1.2 billion. In December 2013, HKT agreed to acquire CSL New World Mobility, a subsidiary of Australian network operator Telstra, for HK$18.8 billion. CSL currently runs the premium 1010 and mainstream CSL brands in Hong Kong. The transaction was completed in May 2014.

Li was awarded the Lifetime Achievement Award by the Cable and Satellite Broadcasting Association of Asia in November 2011.

In March 2011, Isabella announced to the media that the couple have ended their relationship. They have both announced that the split is amicable and that they will both take care of the children.

In February 2013, Li’s Pacific Century Group announced the acquisition of the Hong Kong, Macau and Thailand insurance business of ING Groep N.V., and later rebranded the business to FWD Group. Since then, FWD has expanded into Indonesia and the Philippines. Most recently, the company announced its entry into the Singapore, Vietnam and Japan markets.

In October 2013, FWD Group appoint Ronald Arculli as Chairman. In April 2015 former Canadian foreign affairs minister John Baird was appointed as non-executive director to FWD and PineBridge.

In March 2015, PCCW Media acquired mobile video provider VuClip and launched Viu. As of August 2017, Viu’s over-the-top (OTT) video service rolled out to 24 markets globally including Hong Kong, Singapore, Indonesia, Malaysia, India and Thailand.

PCCW OTT provides video streaming services under the “Viu” and “Vuclip” brands as well as a music streaming service under the “MOOV” brand. In August 2017, it secures new investors including Hony Capital, Foxconn Ventures and Temasek.