A Beijing court has ordered Chinese investor Zhao Bingxian, often dubbed “China’s Warren Buffett,” to pay his ex-wife the equivalent of about $75 million in one of the country’s most closely watched divorce cases, according to South China Morning Post. Based on the current value of those shares, Zhao has been ordered to transfer roughly 536 million yuan — about ₹664.7 crore — to Lu.
The judgment ends a divorce battle that stretched 15 years. Lu filed for divorce in 2010, citing Zhao for domestic violence and asking for an equal division of marital assets, South China Morning Post reported. The case dragged through multiple hearings as Zhao repeatedly contested the claims and the financial terms.
The two met in 1986, when Zhao was working in the People’s Liberation Army, and they married two years later. Lu’s family had long invested in the stock market, and at their encouragement, the couple started trading shares in the early 1990s before jointly founding Zhongzheng Wanrong. Lu took care of financial management, and Zhao was in charge of capital operations.
A 1997 book he wrote on capital operations became a top-10 bestseller in China, and helped seal his reputation as a star investor. His firm later gained influence by helping mainland firms list on exchanges in Hong Kong, Shanghai and Shenzhen.
The ruling, which Shandong Wohua Pharmaceutical, where Zhao is chairman, announced earlier this month, has spurred public debate in China over asset division, spousal rights and transparency in high-profile corporate divorces.
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