An inheritance battle following the death of revered Chinese beverage tycoon Zong Qinghou, the late founder of Hangzhou Wahaha Group Co. Ltd., has unearthed a sprawling international portfolio of luxury real estate and financial assets, including a bank account holding $1.8 billion.
Legal and property records reviewed by Caixin show that the Zong family made substantial investments in prestigious international assets — ranging from a hillside mansion in Hong Kong’s elite Barker Road district to a palatial Bel Air estate once owned by prominent hotel magnates. These revelations have led to a reassessment of Zong’s long-cultivated image as a frugal entrepreneur.
