Once one of the richest celebrities in China and greeted as the “Warren Buffett”, Zhao Wei now finds himself in financial ruin. Recent reports by Sina Finance and Sohu reveal that the actress’s activities have been frozen by the Popular Court of the District of Beijing Dongcheng due to debts linked to the family business of the ex -husband.
Zhao’s fall derives from an expensive error – Act as a guarantor For a company of self-tank vehicles managed by Huang Li, her ex-husband of Huang Youlong. The company did not fail in 2021, leaving enormous unpaid debts behind them. While Huang Li and her husband disappeared and Huang Youlong was entangled in tens of millions of dollars in financial difficulties, Zhao Wei was left to support the liabilities.
Although he finalized the divorce in 2021, Zhao continued to face the consequences. At a certain point, even the gangsters also approached her to collect the debts.
According to Tianyancha’s corporate app, Zhao’s shares in three companies – Tibet Longwei Culture & Media Co., Ltd., Dongrun Investment Co. and Hebao Entertainment Group – have been frozen for three years. Without the remaining activities in China, Zhao is unable to repay even modest debts, such as a loan of 14,000 yuan (~ $ 2,000 USD).
Its commercial empire, once evaluated at around $ 1 billion dollars, has completely collapsed. This financial turmoil is not new to Zhao. In 2018, she and Huang were fined of 300,000 yuan each by the China Securities Regulatory Commission (CSRC) for manipulation of the share market and were prohibited by the activity of the titles for five years. While according to Huang reported abroad, Zhao faced over 400 legal actions in China and tried to manage the bellies alone.
Now, Zhao Wei is prohibited by the titles market, in the black list by film and entertainment projects and has no visible income sources. His glamor of public image has given way to a life obscured by legal battles, debt and financial collapse – a clear reminder of how quickly the fortunes can change in the entertainment and business worlds.
Sources: K14
