The investigation into Chinese politician Bo Xilai and his connection to Briton Neil Heywood’s death has shone a global spotlight on Bo’s extended family and their wealth.Bloomberg is out with a huge investigative piece on what this high-level politician/communist party member is worth.
The latest revelations include the news that one of Bo’s sons attended Columbia University and was employed at a top American financial firm; in addition to the fact that Bo’s family had an accumulated wealth of over $136 million in a country where politicians are paid modestly, according to Bloomberg.
An American lawyer that has worked with investment firms in China told the New York Times last week that the Bo family were like the “Kennedys of China.”
In addition, two sisters of Bo’s wife, Gu Kailai, has at least $126 million in real estate investments, Bloomberg reported. Gu Kailai has been arrested in China on suspicion of Heywood’s death.
Bo’s eldest son Li Wangzhi—from his first marriage—was employed at Citigroup’s Hong Kong office from 2005 to 2006, according to Bloomberg, which cited two of Li Wangzhi’s acquaintances, a Chinese website that lists the affiliation, and a Hong Kong’s Securities and Futures Commission registration.
A former classmate of Li Wangzhi told Bloomberg that Li did not seem to like his father, but that Bo’s name certainly opened lots of doors for him.
Li Wangzhi’s affiliations with high finance doesn’t end with Citigroup. According to Bloomberg, Li Wangzhi also worked in private equity in Dalian, China—the city that his father was mayor of from 1993 to 2000—after graduating from Columbia in 2003. Li is currently linked to at least two other investment firms in China, including one where he holds a managing director position.
Li Wangzhi has also used the names Brendan Li and Li Xiaobai in his business ventures, Bloomberg reported.
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