Zhu Xingliang is a Chinese interior decoration businessman who has a net worth of $1.6 billion. Zhu Xingliang is one of the biggest success stories from China’s building boom within which he was able to build up his interior decoration business. Unfortunately, Xingliang was arrested in 2013 in a government corruption probe into his business affairs, including the scrutinizing of his shares in his interior design firm, Suzhou Gold Mantis, where Zhu is the largest shareholder.
Fallout from the probe extended to the U.S., where Gold Mantis had purchased California design house Hirsh Bender Associations. Shares in China’s largest interior decorator company Gold Mantis fell by 3.3% after the company confirmed that its controlling shareholder, billionaire Zhu Xingliang, had been arrested for suspected involvement in corruption. Xingliang, who sat on the board but didn’t formally serve as chairman or CEO, was detained at his home in connection with an investigation into wrongdoing by Ji Jianye, the former mayor of the eastern Chinese city of Nanjing, according to media reports. Ji “contracted many projects” to Gold Mantis, according to one report. Ji was replaced as mayor in October.
|Net Worth:||$1.6 Billion|