Chinese billionaire Zhou Yahui and his billionaire wife Li Qiong are divorcing. Zhou is the founder and chairman of the huge online gaming operation Beijing Kunlun Tech which specializes in social media, gaming, and digital technology like internet banking and mobile software. Those sectors are enormous — and Kunlun is a major player, having raised hundreds of millions in financing from Silicon Valley (including Sequoia Capital) and gone public on a Chinese exchange.
It’s reported that Zhou will transfer 278 million shares of Kunlun to Li as part of a divorce settlement mediated by a Beijing court. At current price of Kunlun stock on the Shenzen market that equals roughly $1.1 billion. Like all large tech conglomerates, Kunlun is acquisitive. It bought 60% of the American gay dating site Grindr earlier this year, for about $90 million.