Chinese tech mogul Zhou Hongyi’s ex-wife given $1.7 billion stake in divorce
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Mr Zhou Hongyi gave a 6.25 per cent stake in cyber-security firm 360 Security Technology to his former partner Hu Huan after divorce negotiations.
PHOTO: GETTY IMAGES
BEIJING – The former wife of one of China’s wealthiest tech moguls could be a billionaire after the couple’s divorce.
Mr Zhou Hongyi, chairman of cyber-security firm 360 Security Technology, gave a 6.25 per cent stake – worth about US$1.3 billion (S$1.7 billion) – in the company to his former partner Hu Huan after divorce negotiations, according to a company filing.
Not much is publicly known about Ms Hu, who did not work at the company and held no shares before the agreement.
She was born in 1971, and is a Chinese citizen with Singapore permanent residence, according to a separate filing.
Mr Zhou, 52, remains the group’s actual controlling shareholder.
He delisted his Qihoo 360 Technology from the New York Stock Exchange in July 2016, and began trading in February 2018 in Shanghai as 360 Security Technology.
The move boosted Mr Zhou’s net worth at the time to more than US$13 billion, according to the Bloomberg Billionaires Index.
His fortune has since crumbled as China’s crackdown weighs on technology companies.
But the political tide could be shifting again.
His company surged 63 per cent in March as China’s state media lauded the growth of the country’s artificial intelligence sector.
Mr Zhou, in the meantime, was confirmed as a member of China’s top political advisory body. BLOOMBERG
