Late Wahaha Tycoon’s Family Owns Hundreds of Millions in Hong Kong, U.S. Real Estate

The passing of Zong Qinghou, the late founder of the Hangzhou Wahaha Group Co. Ltd., has led to a high-profile inheritance dispute that has exposed the family's vast and previously concealed international assets. Among these are prime luxury real estate in Hong Kong and the U.S., intricate offshore holdings, and a bank account containing $1.8 billion. The unfolding court battles and revelations have transformed public perceptions of Zong, who had long cultivated an image of thrift and modesty in Chinese business circles. [para. 1][para. 2]

A closer examination of legal and property documents reveals that the Zong family invested considerably in elite real estate properties around the globe. These assets include a coveted mansion on Barker Road, Hong Kong’s most prestigious residential enclave, and a sprawling Bel Air estate in Los Angeles, previously owned by hotel magnates. These discoveries challenge Zong’s reputation as a frugal entrepreneur and show the depth of his wealth and the family’s global footprint. [para. 2]

Zong Qinghou, who died in February 2024, built Wahaha from the ground up, making it one of the most successful beverage companies in China. His business career was previously thrust into the spotlight during a long and public legal struggle in the 2000s with French food conglomerate Danone SA. The dispute revolved around control of Wahaha and stretched across international jurisdictions before concluding in 2009. [para. 3]

The inheritance battle intensified after Zong’s death, as three individuals came forward claiming to be Zong’s children and initiated inheritance lawsuits in both mainland China and Hong Kong. They are challenging Zong’s only publicly acknowledged child, daughter Zong Fuli, the designated heiress to the Wahaha empire. [para. 4]

The family’s assets in Hong Kong are centered around a duplex mansion in Altadena House on Barker Road, a neighborhood favored by top government officials and business elites, including high-profile figures such as Lee Shau-kee and Jack Ma. Land Registry records show the 378-square-meter property is owned by Sealine Holdings Limited, directed by Zong's widow, Shi Youzhen. Such indirect ownership through corporate entities is common for Hong Kong’s ultra-wealthy, partly due to tax optimization strategies. Comparable units in this development have sold for up to HK$248 million ($31.6 million) as of November 2024. [para. 5][para. 6][para. 7]

Zong Fuli has also personally benefited from Hong Kong's property market, buying a Mid-Levels apartment in 2009 for HK$11.1 million and selling it for HK$26 million in 2018—a 136% return. [para. 8]

The family's U.S. real estate portfolio is equally impressive. In January 2024, the family paid $25 million in cash for a Los Angeles Bel Air mansion, a property whose original list price was $55 million and once belonged to Rick and Kathy Hilton. The family also owned a property in San Marino, where Zong Fuli studied, and has historic ties to the U.S.—including Zong’s temporary possession of a U.S. green card and Zong Fuli’s former American citizenship. [para. 9][para. 11][para. 12]

The Wahaha–Danone legal dispute also unearthed the family’s offshore businesses, with claims of 87 unauthorized companies registered mostly in tax havens such as the British Virgin Islands, and assets estimated at 5.6 billion yuan by 2006. The legal feud, which involved international courts, ended with Zong buying back Danone’s 51% stake for 300 million euros, a fraction of Danone’s original demand. [para. 13][para. 14]

Overseas business records further disclose that Zong Fuli acquired a BVI-registered company, Purple Mystery Investment Ltd., in 2015, and she remains its legal representative. This company shares a Hong Kong address with another family-run business, with her mother as the sole director, cementing the international and complex nature of the Zong family's holdings. [para. 15]