Chinese tech tycoon, Zhou Yahui has agreed to pay his now ex-wife Li Qiong a massive $1.1 billion in divorce settlement.
Zhou, the chairman of online gaming firm Beijing Kunlun Tech agreed to transfer hundreds of millions of shares in his company to his wife. The huge settlement has made headlines in China and all over the world. It is also one of the most expensive splits to date.
World’s biggest divorce payout
A Beijing court issued a civil medication agreement that read that Zhou would hand over 278 million shares to Li. The value of those shares at the close of the stock exchange on Wednesday was 7.35 billion Yuan ($1.1 billion). This settlement eclipses the $975 million that American Oil tycoon, Harold Hamm paid his ex-wife last year.
Zhou Yahui and Li Qiong are China’s most affluent couple under the age of 40. They have shared assets of about 23 billion yuan (£2.6 billion). This is according to the Hurun Report, which tracks wealth amongst China’s super rich.