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A new billionaire emerges after a signature

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Every year, over 200,000 marriages happen in Malaysia. Theoretically, we have over 400,000 happy people every year after they committed to be with one another for as long as they live, legally. Usually it involves signing a piece of important paper. On the other hand, we also have over 50,000 divorce cases every year. Theoretically, one major reason they got divorced is because they were no longer happy as a partner to the other. Image from Department of Statistics Malaysia (DOSM) below.

Most of the time, the man is seen as the breadwinner of the family. Thus, whether it’s a marriage or a divorce, they (men) should be responsible to ensure their partner is able to live their life without financial concerns. This may also meant giving away half of their wealth. One such case has just happened. The wife has been elevated to the status of a multi-billionaire, right after the divorce.

Image Source: dosm.gov.my

Article in stratistimes.com Mr Du Weimin, the chairman of Shenzhen Kangtai Biological Products Co, transferred 161.3 million shares of the vaccine maker to his former wife, Ms Yuan Liping. With this transfer Ms. Yuan is now a multi-billionaire. The shares were held by her but she had earlier signed an agreement delegating the voting rights to her former husband.

Ms. Yuan is a Canadian citizen who resides in Shenzhen and was a director in Kangtai between May 2011 to August 2018. She holds a bachelor’s degree in economics from Beijing’s University of International Business and Economics. The transferred shares were worth worth US$3.2 billion (RM13.69 billion) as of Monday’s (June 1) close. After the transfer, Mr. Du’s net worth has dropped to about US$3.1 billion (RM13.26 billion). Please read the full details here: Article in stratistimes.com

Okay, actually she (Ms. Yuan) owned those shares as per the article. However, as it was not under her name thus she was not recognised as a multi-billionaire then. She is now recognised as one. I think it’s very clear from the article that she is a professional herself and this was also not one of those ‘family drama’ which stretches into the court. Perhaps this is also best for the company since any prolonged disputes would not be good for the company as well.

By the way, Kangtai is involved in looking for a COVID-19 vaccine as well. If they found it, these two multi-billionaires will have an even higher ranking among the multi-billionaires in the world. Do we actually know how rich are these billionaires when compared to the world? Well, according to one report by Oxfam released in January 2020, the world’s 2,153 billionaires owns as much wealth as 60% of the world’s population. Full article for reference here. Well, happy reading.

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