Tech mogul gets US$13b richer just by leaving New York for China
Hong Kong
WHY be content with almost US$2 billion when your net worth can be multiples more simply by moving your company from one stock exchange to another?
Zhou Hongyi did just that, relocating his online security firm to China and merging it into a shell company, which soared as much as 550 per cent since he announced the plan in November. Qihoo 360 Technology Co delisted from the New York Stock Exchange in July 2016 and began trading Wednesday in Shanghai as 360 Security Technology Inc. The move boosted Mr Zhou's net worth to US$14.1 billion, making him China's 11th-richest person, according to the Bloomberg Billionaires Index.
