Chinese game designer Kunlun's billionaire Chairman Zhou Yahui agrees to cover spouse $1.1 billion in . + divorce proceedings settlement. (Picture Credit: Gilles Sabrie for Forbes)
A high-flying billionaire that is chinese making among the country’s costliest divorce or separation settlements ever.
Zhou Yahui, whom purchased a controlling stake in gay-dating software Grindr previously this current year, consented to move 278 million stocks inside the online video gaming business Beijing Kunlun Tech to Li Qiong, based on A chinese stock market filing. Today the shares are worth 7.3 billion yuan ($1.1 billion), based on Kunlun’s closing price of 26.4 yuan.
Zhou, whom holds a 34.5per cent stake in Kunlun—worth 10.1 billion yuan($1.5 billion)-- after the settlement, will keep control of the business. Li will comply with the original share lock-up period, that will expire in January 2018, in line with the filing.