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Shu Ping, wife of hotpot giant Haidilao's billionaire chairman Zhang Yong, is selling as much as US$353 million worth of company shares, prompting the stock to hit its lowest since March 2022. Zhang Yong (right) and his wife Shu Ping, co-founders of the hotpot chain Haidilao, pose before an investors' luncheon ahead of the company's IPO in Hong Kong, China, on Sept. 10, 2018 She is offloading 259 million shares through a family trust holding vehicle at a discount of around 6%

Billionaire Lucio Tan, chairman of Philippine Airlines, has climbed to sixth place among the Philippines’ richest people this month as the flag carrier makes a major fleet expansion to tap growing travel demand. Lucio Tan, chairman of Philippine Airlines, attends a press conference in Manila on August 28, 2012 Tan’s net worth now stands at $2.9 billion, according to Forbes, moving him up from eighth place in 2025 and seventh in 2024. Philippine Airlines last month agreed to a

An heir to the late Ray-Ban billionaire Leonardo Del Vecchio's business empire is contesting a family deal valued at EUR10 billion (US$11.8 billion) that would allow a sibling to triple his stake ownership. Rocco Basilico (L) and Leonardo Maria Del Vecchio attend the Tribeca Festival Awards Night during the 2021 Tribeca Festival at Spring Studios on June 17, 2021 in New York City The legal claim was filed by Rocco Basilico, the son of Del Vecchio's widow, in a Luxembourg cour

Koon Poh Keong and his four siblings, who control Southeast Asia’s largest aluminum smelter Press Metal Aluminum Holdings, have risen to the second rank in Malaysia’s wealth this year thanks to a surge in the metal prices. Koon Poh Keong, CEO of Press Metal Aluminum Holdings Shares of Press Metal have surged 73% since the wealth of the brothers was last assessed, giving them a total net worth of US$9.7 billion, ranking only behind the country’s richest man Robert Kuok with a