Nina Wang
ChinaBiography of Nina Wang
Nina Wang, born Yu-Sum Kung, was born on September 29, 1937, in Shanghai. She grew up in Shanghai and became friends with Teddy Wang, whose father founded a chemical company. The Wang family later moved to Hong Kong, where their business, Chinachem Group, grew to become one of the largest and most influential pharmaceutical companies in Hong Kong.
Nina and Teddy rekindled their friendship in 1948 and eventually got married in 1955. Nina, known as "Little Sweetie," was the richest woman in Asia and the 35th richest person in the world, with a fortune of $4.2 billion USD, according to Forbes magazine.
In 1983, the Wangs' Mercedes was stolen with Teddy inside, and he was held captive for eight days until Nina paid the kidnappers $33 million. In 1990, Teddy was kidnapped again and was declared dead in 1999, although his body was never found.
After Teddy's disappearance, Nina took over the reins of Chinachem as the "chairwoman" and turned the company into Hong Kong's largest property developer. However, a bitter legal battle ensued over Teddy's estate, with at least three different wills coming into play.
In 2002, a court ruled that the 1990 will, leaving everything to Nina, was a forgery, and the majority of Teddy's estate went to his father. Nina was charged with forgery in 2005 but was acquitted by the Court of Appeal. She continued to lead Chinachem until her death.
Nina Wang passed away on April 3, 2007, in a Hong Kong sanatorium. The cause of her death was not disclosed, but it was rumored that she had ovarian cancer. She had been battling the disease since 2004, seeking treatment in the United States.
After her death, two of Nina's wills were published, one from 2002 and another from 2006. The 2002 will directed all the money to a charitable foundation, while the 2006 will named a feng shui consultant, Tony Chan Chun-chuen, as the beneficiary.
In 2010, a court ruled that Tony, who claimed to be Nina's secret lover, had forged her signature on the 2006 will and upheld the 2002 will. Tony was arrested and faced charges of document forgery.
Despite the legal battles and controversies surrounding her estate, Nina Wang was known for her modesty, humility, and insightfulness. Her contributions to the business world and philanthropy in Hong Kong made her a highly influential figure.
