Wife gets $1.5b after divorce
ZHOU Yahui, chairman of Chinese online gaming company Kunlun, has agreed to a divorce settlement with his wife Li Qiong, the company announced on Tuesday.
The 7.5 billion yuan (S$1.5 billion) divorce agreement stands as the Chinese A-share market's most expensive divorce ever.
She will receive shares of Kunlun from him.
As the share price ended at 25.33 yuan apiece on Tuesday, she walks away with around 7.5 billion yuan worth of shares, or 26.4361 per cent of the company.
However, Mr Zhou is reported to still retain control of the company.
Reports on divorce of entrepreneurs have been in the news in recent years.
One comparable to Mr Zhou's case would be Gary Wang, former CEO of video service firm Tudou.com.
He went through an expensive divorce in 2011, having to pay US$7 million (S$9.6 million) in the final settlement.
ASIA NEWS NETWORK