Chu Lam Yiu is a Chinese billionaire and the founder of Huabao International Holdings, a fragrances and tobacco flavoring company. She founded the company in 1996 and took it public on the Hong Kong Stock Exchange through a "backdoor listing" in 2006.[1][2][3] According to Forbes, she is one of China's richest women with a net worth of USD 2.4 billion in 2022.[4]
In 2022, she was placed under investigation for “suspected disciplinary violations” along with her son, Lam Ka Yu, as the Chinese government began cracking down on corruption in the tobacco industry.[5] Her daughter, Lam Ka Yan, a Columbia University graduate, was named an executive director at the company amid the government probe.[6]
References
edit- ^ "Hong Kong Billionaire Loses Half Her Fortune on China Probe". Bloomberg.com. Retrieved 10 February 2022.
- ^ "China Targets Billionaire with Rough Justice". Bloomberg.com. Retrieved 10 February 2022.
- ^ Wang, Catherine. "China's Vaping Queen Sees Fortune Plunge 65% After Chinese Government Probe". Forbes.com. Retrieved 10 February 2022.
- ^ "Chu Lam Yiu". Forbes. Retrieved 2022-03-06.
- ^ White, Edward; Creery, Jennifer; Johnston, Ian (2022-02-11). "China's vaping queen is dethroned as Beijing targets tobacco". Financial Times. Retrieved 2022-03-06.
- ^ Flannery, Russell. "Chinese Billionaire's 24-Year-Old Daughter Joins Huabao Board Amid Gov't Probe". Forbes. Retrieved 2022-03-06.
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