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 billionaire that is chinese making among the country’s costliest divorce proceedings settlements ever.
Zhou Yahui, whom purchased a managing stake in gay-dating software Grindr previously in 2010, decided to move 278 million stocks inside the online video gaming business Beijing Kunlun Tech to Li Qiong, based on 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 business. Li will adhere to the share that is original period, that may expire in January 2018, in line with 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 revenues year that is last.
The organization is diversifying into online finance and social media marketing. Last year Zhou dedicated to British financing startup Lendspend. Kunlun can be area of the consortium that is chinese agreed in July to cover $600 million for the customer business of Norwegian web web browser Opera, after the first $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 divorce proceedings does affect Kunlun’s operations n’t, an organization spokeswoman states.
Asia’s breakup price, once minuscule, is increasing quickly. It climbed from 1.7percent of this populace in 2008 to 2.8per cent a year ago, 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.
When you look at the exact same 12 months, Yuan Jinhua, vice president of hefty equipment manufacturer Sany, compensated wife Wang Haiyan 2.26 billion yuan ($359 million) as their breakup settlement.
Wang Wei, founder of Chinese on the web video site Tudou, stands to reduce the absolute most from their divorce proceedings. Tudou’s bid for a preliminary general public offering on the Nasdaq had been postponed to 2011 after their ex-wife petitioned a nearby court to truly have the shares frozen. Wang sooner or later reached a settlement worth $7 million, but competing Youku took the possiblity to offer its shares to U.S. investors in belated 2010. The sooner usage of money permitted Youku to cultivate faster, also it suppressed interest in Tudou’s IPO a 12 months later on. Youku ultimately acquired Tudou in 2012. The business 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 or separation 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 controlling stake in gay-dating software Grindr previously in 2010, decided to move 278 million stocks inside the online gaming business Beijing Kunlun Tech to Li Qiong, relating to 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, who 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 will expire in January 2018, based on the filing.
A graduate of this prestigious Tsinghua University in Beijing, Zhou made their fortune by dispersing Chinese games abroad. russian brides club Overseas areas taken into account 74% of Kunlun’s 1.78 billion yuan in profits year that is last.
The business is diversifying into online finance and social media marketing. Last Zhou invested in UK lending startup LendInvest year. Kunlun can be an element of the Chinese consortium that agreed in July to cover $600 million when it comes to consumer company of Norwegian web web browser Opera, after the initial $1.2 billion buyout offer for the whole Opera computer computer Software failed as a result of privacy issues from U.S. regulators.
The divorce proceedings does affect Kunlun’s operations n’t, 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 2.8per cent this past year, in line with the Ministry of Civil Affairs.
The united states isn’t any complete stranger to exorbitant breakup 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 year that is same Yuan Jinhua, vice president of hefty gear manufacturer Sany, compensated wife Wang Haiyan 2.26 billion yuan ($359 million) as their breakup settlement.