Chu Lam Yiu Explained

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]

Notes and References

  1. Web site: Hong Kong Billionaire Loses Half Her Fortune on China Probe. Bloomberg.com. 10 February 2022.
  2. Web site: China Targets Billionaire with Rough Justice. Bloomberg.com. 10 February 2022.
  3. Web site: China’s Vaping Queen Sees Fortune Plunge 65% After Chinese Government Probe. Catherine. Wang. Forbes.com. 10 February 2022.
  4. Web site: Chu Lam Yiu . 2022-03-06 . Forbes . en.
  5. News: White . Edward . Creery . Jennifer . Johnston . Ian . 2022-02-11 . China’s vaping queen is dethroned as Beijing targets tobacco . Financial Times . 2022-03-06.
  6. Web site: Flannery . Russell . Chinese Billionaire’s 24-Year-Old Daughter Joins Huabao Board Amid Gov’t Probe . 2022-03-06 . Forbes . en.

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