Chinese Owner of Grindr to Pay $1.1 Billion to Wife in Divorce Settlement

Chinese billionaire Zhou Yahui, who owns significant shares of several tech companies including the popular gay dating app Grindr, is about to award $1.1 billion worth of company shares as a divorce settlement to his wife.

According to Bloomberg, the settlement will leave his wife Li Qiong with a 26.4% stake in Beijing Kunlun Tech Co., while Zhou will retain 34.5%. The settlement amount, equivalent to 278 million shares of his online gaming company, is considered to be one of China’s biggest divorce settlements ever.

“[This] could create the country’s most expensive divorce case,” said Shanghai Securities News (via Telegraph).

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“The value of the equity transfer will reach seven billion yuan, meaning the listed companies will basically be divided in half by the couple.”

As a China’s most affluent couple under the age of 40, Zhou and Li are worth around 23 billion yuan ($3.45 billion). While details on the transferring of shares were not made public, the Chinese local media has already labeled the nature of the transfer as a form of settlement from a divorce.

Li is about to own 207.4 million shares in Beijing Kunlun, with an additional 70.5 million shares via a new acquisition in BJ Yingrui Century. A previously agreed upon lockup period, however, will keep Li’s shares on hold until January 2018.

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Zhou has built his fortune by distributing Chinese online games internationally after he founded Kunlun as a web game distributor in 2008. Foreign markets covered 74% of the company’s 1.78 billion yuan ($266,648,700) in revenues last year.

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