Mail Order Brides From Ukraine

Chinese Internet Tycoon Zhou Yahui Agrees To Cover Wife $1.1 Billion In Breakup

Chinese Internet Tycoon Zhou Yahui Agrees To Cover Wife $1.1 Billion In Breakup

Chinese game developer Kunlun’s billionaire Chairman Zhou Yahui agrees to cover spouse $1.1 billion in . + divorce or separation settlement. (Picture Credit: Gilles Sabrie for Forbes)

A high-flying Chinese billionaire is making among the country’s costliest divorce proceedings settlements ever.

Zhou Yahui, whom purchased a managing stake in gay-dating software Grindr earlier in the day this season, consented to move 278 million stocks in their online video video gaming business Beijing Kunlun Tech to Li Qiong, relating to a stock exchange filing that is chinese. The stocks can be worth 7.3 billion yuan ($1.1 billion), centered on Kunlun’s closing price of 26.4 yuan today.

Zhou, whom holds a 34.5per cent stake in Kunlun—worth 10.1 billion yuan($1.5 billion)– after the settlement, will keep control of the organization. Li will comply with the original share lock-up period, that will expire in January 2018, based on the filing.

A graduate for the prestigious Tsinghua University in Beijing, Zhou made their fortune by circulating Chinese online flash games abroad. International areas taken into account 74% of Kunlun’s 1.78 billion yuan in profits this past year.

The business is diversifying into online finance and social media marketing. Last Zhou invested in UK lending startup LendInvest year. Kunlun is also an element of the Chinese consortium that agreed in July to cover $600 million when it comes to customer company of Norwegian web browser Opera, after the first $1.2 billion buyout offer for your Opera computer computer Software failed because of privacy issues from U.S. regulators.

The divorce or separation does affect Kunlun’s operations n’t, a business spokeswoman states.

Asia’s divorce proceedings price, once minuscule, is increasing quickly. It climbed from 1.7percent for the populace in 2008 to 2.8percent a year ago, in accordance with the Ministry of Civil Affairs.

The united states is not any complete complete stranger to exorbitant breakup settlements. Wu Yajun, the billionaire chairwoman of home designer Longfor Properties, paid husband Cai Kui 20 billion Hong Kong bucks ($2.75 billion) in 2012.

Into the year that is same Yuan https://russianbrides.us/ukrainian-brides Jinhua, vice president of hefty gear manufacturer Sany, compensated wife Wang Haiyan 2.26 billion yuan ($359 million) as their divorce proceedings settlement.

Wang Wei, founder of Chinese on the web video site Tudou, stands to get rid of the essential from their divorce proceedings. Tudou’s bid for a preliminary offering that is public the Nasdaq had been postponed to 2011 after their ex-wife petitioned an area court to truly have the stocks frozen. Wang eventually reached funds well well worth $7 million, but competing Youku took the opportunity to offer its shares to U.S. investors in belated 2010. The sooner usage of money permitted Youku to cultivate faster, plus it suppressed interest in Tudou’s IPO a later year. Youku ultimately acquired Tudou in 2012. The organization has become owned by Chinese ecommerce giant Alibaba.

Chinese game designer Kunlun’s billionaire Chairman Zhou Yahui agrees to cover spouse $1.1 billion in . + divorce proceedings settlement. (Picture Credit: Gilles Sabrie for Forbes)

A high-flying Chinese billionaire is making among the country’s costliest divorce or separation settlements ever.

Zhou Yahui, whom purchased a managing stake in gay-dating software Grindr previously this season, consented to move 278 million stocks in their online video video gaming business Beijing Kunlun Tech to Li Qiong, based on A chinese stock market filing. The stocks can be worth 7.3 billion yuan ($1.1 billion), predicated on Kunlun’s closing price of 26.4 yuan today.

Zhou, whom holds a 34.5per cent stake in Kunlun—worth 10.1 billion yuan($1.5 billion)– after the settlement, will keep control of the organization. Li will adhere to the share that is original period, that may expire in January 2018, in accordance with the filing.

A graduate of this prestigious Tsinghua University in Beijing, Zhou made their fortune by dispersing Chinese games abroad. International areas taken into account 74% of Kunlun’s 1.78 billion yuan in profits year that is last.

The organization is diversifying into online finance and media that are social. Last Zhou invested in UK lending startup LendInvest year. Kunlun can be the main consortium that is chinese agreed in July to cover $600 million when it comes to customer business of Norwegian web web web browser Opera, after the first $1.2 billion buyout offer for the entire Opera computer computer Software failed as a result of privacy concerns from U.S. regulators.

The divorce or separation doesn’t influence Kunlun’s operations, a business spokeswoman states.

Asia’s divorce or separation price, once minuscule, is increasing quickly. It climbed from 1.7percent of this populace in 2008 to 2.8percent this past year, in line with the Ministry of Civil Affairs.

The united states is not any complete stranger to exorbitant divorce proceedings settlements. Wu Yajun, the billionaire chairwoman of home designer Longfor Properties, paid spouse Cai Kui 20 billion Hong Kong bucks ($2.75 billion) in 2012.

Into the exact same 12 months, Yuan Jinhua, vice president of hefty gear manufacturer Sany, compensated wife Wang Haiyan 2.26 billion yuan ($359 million) as their breakup settlement.