
‘Wahaha Princess' Reveals China's Uncommon Prosperity
Kelly Zong, chief executive at one of China's largest beverage empires, is embroiled in an inheritance dispute. Three plaintiffs, identified by their lawyer as her 'half brothers and sister,' are seeking an injunction in Hong Kong to prevent her from dealing with assets worth about that amount. The feud surfaced just a year after the heiress won a battle for control of Hangzhou Wahaha Group following her father's death last February. As Bloomberg News reported, until now, Kelly Zong was the only child the public had known about. Her lawyer says she doesn't accept the evidence and that her father Zong Qinghou's directives were not given to her.
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Forbes
20 minutes ago
- Forbes
This Stock Has A 3.74% Yield And Sells For Less Than Book
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Fast Company
21 minutes ago
- Fast Company
Why is Trump going after Intel's CEO?
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In his letter, Cotton requested that Yeary respond by next week to questions about Tan's ties to Chinese firms and his prior tenure as CEO of Cadence Design Systems, which last month agreed to plead guilty in a past criminal case. He also cited Intel's receipt of nearly $8 billion in funding under the CHIPS and Science Act during Joe Biden's presidency last year. 'Intel is required to be a responsible steward of American taxpayer dollars and to comply with applicable security regulations,' Sen. Cotton wrote. 'Mr. Tan's associations raise questions about Intel's ability to fulfill these obligations.' TAN AND TRUMP Tan's past investments came under scrutiny following his appointment as CEO, though as a former venture capitalist the size and scope is perhaps not so unusual. A Reuters investigation found that Tan's investments in China were made through Walden International, the venture capital firm he founded in 1987, along with two Hong Kong-based holding companies. Reuters said it found no evidence that Tan was invested directly in any company that's banned by the U.S. Treasury's Chinese Military-Industrial Complex Companies List. What's more, Walden International wasn't an anomaly: It was one of five American venture capital firms that were the subject of a congressional investigation last year into investments in China's semiconductor industry that totaled $1 billion since 2001. The other funds on the list were GGV Capital, GSR Ventures, Qualcomm Ventures, and Sequoia Capital. But Walden International and, by virtue Tan, may be out of favor by the Trump administration for other reasons. GGV Capital split its U.S. and China operations into two firms last year, while GSR Ventures did so this year. Qualcomm donated $1 million to a nonprofit that supported Trump's 2024 election bid, while Shaun Maguire, one of Sequoia's partners, is a vocal Trump supporter and the firm has ties to David Sacks, the White House AI and crypto czar. 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Wall Street Journal
22 minutes ago
- Wall Street Journal
How to Counter China in America's Backyard
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