Chinese Billionaire Zhao Bingxian Ordered to Pay Ex-Wife $75 Million After 15-Year Divorce Battle

A Beijing court has finalized a significant divorce settlement, ordering Chinese investor Zhao Bingxian to pay his ex-wife Lu Juan $75 million (approximately Rs 664 crore). The ruling marks the conclusion of a 15-year legal battle that began when Lu initiated divorce proceedings in 2010.

The settlement mandates an equal division of shares in Beijing Zhongzheng Wanrong Investment Group, the company the couple co-founded. This high-profile case has attracted considerable attention across Chinese social media platforms, with many fascinated by the substantial settlement amount.

Zhao Bingxian, 63, widely known as "China's Warren Buffett," holds a master's degree in finance from Shanghai Jiao Tong University. He met Lu Juan in 1986 while serving in the People's Liberation Army, and they married in 1988. Lu's family background in investing influenced their career path, with her grandfather's guidance leading them to begin trading shares in the 1990s.

Together they established Zhongzheng Wanrong, with Lu managing financial aspects while Zhao oversaw capital operations. Their venture proved successful, with their investment firm helping numerous mainland Chinese companies list on stock exchanges in Hong Kong, Shanghai, and Shenzhen. Zhao also authored a book on capital operations in 1997, which became a bestseller in China and contributed to his nickname "China's Warren Buffett."

The marriage deteriorated when Lu filed for divorce in April 2010, citing multiple instances of domestic violence. "After I expressed my desire to divorce, he threatened that the divorce would cause a significant drop in share prices, affecting him and his associates," Lu told the Beijing Morning Post.

The divorce proceedings became increasingly contentious, with Zhao reportedly delaying the process by repeatedly failing to appear in court, citing illness or business commitments. The situation escalated when Lu removed a steel safe containing company assets, resulting in Zhao accusing her of theft and her subsequent 37-day detention. Although Lu initially withdrew her divorce application, she refiled in August 2011 due to continuing issues.

The case was finally heard in June 2023 at the Tongzhou District People's Court in Beijing. The court ruled that the couple's common property should be divided equally and declared a disputed share transaction document from 2010 as invalid, concluding it had been forged by Zhao. Despite Zhao's appeal, the Beijing No 3 Intermediate People's Court upheld the original verdict, finalizing the 536 million yuan (approximately $75 million) alimony payment to Lu.

The court's decision was disclosed on November 4 by Shandong Wohua Pharmaceutical Company, where Zhao serves as chairman, bringing public attention to the resolution of this protracted legal battle.