One day you are rated among the richest youngest couples in the world and the next, you are headed for divorce. Such is the story of Chinese billionaires Zhou Yahui and wife Li Qiong with the lady walking away with $1.1 billion, approximately half of the man’s $2.6 billion net wealth. How Harsh!!
Divorces appear to be the norm in the western culture, however, the eastern countries, China in this case, have recently seen a surge in divorce rates- 2.8% from last year.
A statement released by Yahui’s Beijing Kunlun Tech, revealed that he would be transferring 278 million shares to Li Qiong. That number brings the total worth to 7.3 billion yuan equivalent to $1.1 billion, making it one of the most expensive divorce settlement in China and in the world. The cause of the divorce isn’t yet known but JustRichest suspects the usual “irreconcilable differences”.
Though it is unknown for how long the couple were married for, rumor has it they began an amorous relationship in their high school years.
On the brighter side, Yahui will maintain his position at the helm of the company where he holds over 34% stakes. Zhou Yahui was in 2015 rated #12 on Forbes List of Richest Young Tech Billionaires Under 40 with a net worth of $2.6 billion. He made his fortune by distributing Chinese online games abroad.
He was inducted into the billionaire’s club in 2015 when his Kunlun Tech found in 2008 launched its IPO, realizing $229 million. According to Forbes, about 74% of his wealth last year emanated from overseas.
The Tsinghua University alum has been making diversified investments via his Kunlun Tech. In January 2016, he enlarged his portfolio by paying paying $93 million for a controlling stake (60%) in gay exclusive dating app Grindr. Grindr boasts over 2 million users per day from over 196 countries worldwide. Kunlun in June 2015 made a $34 million investment in UK lending service LendInvest. The company is also a partner of Finland’s Angry Birds founder Rovio Entertainment.
Though $1.1 billion is no chicken feed, it isn’t the most expensive divorce payout in the world, or in China’s history. Snapping both title would be the $2.75 billion Longfor Properties chairwoman Wu Yajun paid to her husband Cai Kui back in 2012.
Another highly publicized divorce case was in 2009 when British-Croatian model Slavica walked away with $1.2 billion of Formula 1 boss Bernie Ecclestone’s net worth of $4 billion. Falling in love don’t cost a thing, but sadly, the same can’t be said when falling out.