How Vicki Zhao became richer by $101 million in less than 6 months

13 May 2015 / 1 year 5 months ago

Celebrities are among those making massive profits from the frenzied trading on China's stock exchanges, which have seen share prices soar in recent months.

According to a report on AsiaOne via China Daily, actress Zhao Wei, nicknamed "China's show-business Buffett" by the media, has gained 470 million yuan (S$101 million) in less than six months from an investment in Hong Kong-listed Alibaba Pictures Group, an entertainment company backed by e-commerce giant Alibaba, according to a Hong Kong exchange filing.

The 39-year-old and her tycoon husband, Huang Youlong, bought a 9.2 per cent stake in the company for 2.48 billion yuan at an average price of 1.3 yuan per share in December.

This proved to be a smart move, as the value of the stock has more than doubled - shares were trading at 2.71 yuan on Monday.

According to media estimates based on public information, the total value of Zhao and her husband's stock holdings exceeds 4.55 billion yuan, including a book profit of about 2.4 billion yuan.

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