Former entertainment reporter Chan Hoi-wan became the richest woman in Hong Kong overnight after she was transferred HKD11.3 billion in assets by her husband, fugitive tycoon Joseph Lau.
Lau transferred his 74.99 percent controlling stake in Chinese Estates Holdings (estimated worth HKD17 billion) to his wife and Lau Ming-wai, his son from his first marriage, on Wednesday due to his “very unstable health condition”. The move comes two weeks after Chan was appointed executive director of the company, SCMP reports.
Chan, who received 50.02 percent of the shares, is now estimated to be worth a total of HKD50 billion, making her the richest woman in Hong Kong. Chan, Lau’s former assistant, has two children with him. The couple were wed recently, on Dec. 7, 2016.
Lau has been living as a fugitive in Macau since 2014, after he was convicted of bribery and money laundering. He reportedly suffers from renal failure, heart disease and diabetes, and recently made headlines when he took out multiple full-page ads in Hong Kong newspapers detailing his breakup from longtime girlfriend Yvonne Lui.
