Chinese game designer Kunlun’s billionaire Chairman Zhou Yahui agrees to pay for spouse $1.1 billion in . + divorce settlement. (Picture Credit: Gilles Sabrie for Forbes)
A high-flying billionaire that is chinese making among the country’s costliest divorce proceedings settlements ever.
Zhou Yahui, who purchased a managing stake in gay-dating software Grindr earlier in the day this present year, decided to move 278 million stocks in the online video video gaming company Beijing Kunlun Tech to Li Qiong, based on a stock exchange filing that is chinese. Today the shares are worth 7.3 billion yuan ($1.1 billion), based on Kunlun’s closing price of 26.4 yuan.
Zhou, who holds a 34.5per cent stake in Kunlun—worth 10.1 billion yuan($1.5 billion)– following the settlement, will maintain control over the business. Li will adhere to the share that is original period, that may expire in January 2018, in line with the filing.
A graduate of this Tsinghua that is prestigious University Beijing, Zhou made their fortune by dispersing Chinese online flash games abroad. International areas accounted for 74% of Kunlun’s 1.78 billion yuan in profits this past year.
The business is diversifying into online finance and social networking. Last Zhou invested in UK lending startup LendInvest year. Kunlun can also be an element of the Chinese consortium that agreed in July to cover $600 million for the customer company of Norwegian web web browser Opera, after the initial $1.2 billion buyout offer for the entire Opera computer Software failed because of privacy issues from U.S. regulators.
The divorce 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 regarding the populace in 2008 to 2.8per cent this past year, in line with the Ministry of Civil Affairs.
The united states isn’t any complete stranger to exorbitant divorce or separation 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, paid wife Wang Haiyan 2.26 billion yuan ($359 million) because their divorce or separation settlement.
Wang Wei, founder of Chinese on the web video site Tudou, stands to reduce the absolute most from their divorce or separation. Tudou’s bid for a preliminary general public providing on the Nasdaq ended up being postponed to 2011 after their ex-wife petitioned an area court to really have the stocks frozen. Wang ultimately reached money well worth $7 million, www.brightbrides.net/haitian-brides but competing Youku took the opportunity to offer its stocks to U.S. investors in late 2010. The sooner use of money permitted Youku to develop faster, plus it suppressed need for Tudou’s IPO a 12 months later on. Youku fundamentally 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 pay for 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 settlements ever.
Zhou Yahui, whom purchased a managing stake in gay-dating application Grindr previously this present year, decided to move 278 million stocks inside the online video video video gaming business Beijing Kunlun Tech to Li Qiong, in accordance with a stock exchange filing that is chinese. The shares can be worth 7.3 billion yuan ($1.1 billion), according to 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)– following a settlement, will keep control over the business. Li will comply with the original share lock-up period, that may expire in January 2018, based on the filing.
A graduate associated with the prestigious Tsinghua University in Beijing, Zhou made their fortune by dispersing Chinese online flash games abroad. International areas taken into account 74% of Kunlun’s 1.78 billion yuan in profits a year ago.
The organization is diversifying into online finance and social media marketing. Last year Zhou committed to British financing startup Lendspend. Kunlun normally area of the Chinese consortium that agreed in July to cover $600 million for the consumer company of Norwegian web web web browser Opera, after the initial $1.2 billion buyout offer for the entire Opera computer computer computer Software failed as a result of privacy issues from U.S. regulators.
The breakup doesn’t influence Kunlun’s operations, an organization spokeswoman says.
Asia’s divorce or separation price, once minuscule, is increasing quickly. It climbed from 1.7percent for the populace in 2008 to 2.8per cent this past year, in line with the Ministry of Civil Affairs.
The united states isn’t 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 dollars ($2.75 billion) in 2012.
Into the year that is same Yuan Jinhua, vice president of hefty gear manufacturer Sany, compensated wife Wang Haiyan 2.26 billion yuan ($359 million) as his or her divorce proceedings settlement.
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