China's Richest Woman Loses One Third of Fortune After Divorce!

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China's Richest Woman Loses One Third of Fortune After Divorce!
Sat 24-11-2012

Multibillionaire businesswoman Wu Yajun, went through a divorce which cost her one third of her fortune!

She is no longer the richest woman in China following a peaceful and friendly divorce from husband Cai Kui.

The 48 year old chair of Hong Kong-listed developer Longfor Properties transferred almost 30% of her shares in the group to her husband, lowering her stake from 75.6% to 45.4% according to reports.

The pair, who had been married for 20 years, filed for divorce in August. The couple co-founded the company, originally known as Chongqing Zhongjianke Real Estate Co Ltd, in 1995. Wu Yajun, a former property journalist, is now thought to be worth $4.2 billion, down from an estimated $7.3 billion prior to the divorce.

The title of China’s richest woman now passes to Yang Huiyan, 31, the executive director of rival property developer Country Garden Holdings.