Chinese Billionaire Hides Wealth from Children, Not Stingy But…..


Jakarta, CNBC Indonesia – About 24 years ago the Chinese billionaire, Zhang Yudong or Zhang Sr., made a decision anti-mainstream which is proven to work now. While other billionaires open up their wealth to their own families, Yudong doesn't. It turns out he committed “fraud” on his own children regarding their assets.

This story was told by the child himself, Zhang Zilong or Zhang Jr. (24), some time ago to Jiupai News. Zhang Jr. stated that for the first 20 years of his life, his father did not tell him that he came from a very rich family.


In fact, everyone knows that Zhang Sr. is a well-known Chinese businessman. He is the founder of the food brand, Mala Prince, which produces up to US$ 83 million or Rp. 1.3 trillion in goods per year.

During this time, Zhang Jr. only to be told that his father was not a big businessman and company founder, but was just an ordinary businessman who was in debt for business operations. On this basis, the family has told him that in living life he must be concerned and simple so as not to bother his parents.

As a result, he just followed along while growing up in a simple flat in Pingjiang, Hunan Province. Then when he went to school from elementary to college, Zhang Jr. You also have to take part in a series of complicated selections, without any special features. Likewise when you are working. The man born in 2000 had to work hard to help his family pay debts for a business with a salary of US$800 or Rp. 12 million per month.

At this point, when he had made great efforts to help the family get rid of debt and poverty, his father told him an interesting fact: all this time Zhang Jr. actually comes from a very rich family, not from a miserable family.

Quote South China Morning Post (SCMP) (26/3/2024), Zhang Sr.'s reasons cover up his wealth so that his children do not live a spoiled life. In that way, Zhang Sr. succeeded in making his children have simple and hardworking personalities who would be useful when they grow up.

When this fact came to light, Zhang Jr. admitted that he was surprised, but he was also happy that he came from a conglomerate family. He no longer lives in a simple flat, but has moved to a villa worth US$ 1.4 million or Rp. 22 billion. Even so, this fact does not make Zhang Jr.'s life worse. changed.

In the SCMP report, Zhang Jr. still lives simply and works hard, even though he already works at his father's company and lives very richly. His father did not give him special privileges and made him have to pursue a career like other employees.

He was only given the task of helping the company go public And go-international. If this business is successful, his father will transfer ownership of the company to him. However, if it fails of course that doesn't happen.

[Gambas:Video CNBC]

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