Haidilao Billionaire Co-Founder & 2nd Largest Shareholder Shi Yonghong Buys $35 Million Bungalow in Singapore from Lee Kuan Yew Daughter Lee Wei Ling
22nd September 2022 | Singapore
Popular spicy hotpot restaurant Haidilao billionaire co-founder & 2nd largest shareholder Shi Yonghong (estimated fortune of $3.7 billion), has bought a $35 million (S$50 million) 18,000 square feet bungalow in Singapore from Lee Wei Ling (daughter of Singapore former Prime Minister Lee Kuan Yew). The bungalow is at Cluny Hill, near Singapore Heritage site Botanic Garden, with the transaction taking place on 6th Sept 2022. Shi Yonghong had co-founded Haidilao in 1994 with his friend, Zhang Yong. The family fortune of Zhang Yong and Shu-Ping (wife) is estimated to be around $9 billion and is one of Singapore’s richest family. The family have became Singapore’s citizens and in 2019, have setup their family office Sunrise Capital Management in Singapore to manage their family assets. In 2021, Zhang Hanzhi, who is the son of billionaires and founders of Haidilao Zhang Yong (father) and Shu-Ping (mother) and in his early 20s, bought a $42 million bungalow in Singapore at Gallop Road. The bungalow is located beside his parents’ bungalow, which both are near Singapore’s botanic garden, a UNESCO World Heritage Site.
“ Haidilao Billionaire Co-Founder & 2nd Largest Shareholder Shi Yonghong Buys $35 Million Bungalow in Singapore from Lee Kuan Yew Daughter Lee Wei Ling “
Haidilao Hot Pot
Haidilao Hot Pot Restaurant was founded in 1994 by Zhang Yong, Shu-Ping (his wife) and 2 other co-founders (Shi Yonghong, Li Haiyan) in China (Jianyang, Sichuan Province) with their personal savings. The restaurant grew in China and in 2012, Haidilao opened its first overseas restaurant in Singapore at the popular clubbing and tourist destination Clark Quay. In 2013, the restaurant opened its first restaurant in United States (Los Angeles).
In 2016, Haldilao’s manufacturing and condiment business, Yihai International became listed on the Hong Kong Stock Exchange and in 2018, Haidilao became listed on the Hong Kong Stock Exchange.
Haidilao is known for its spicy Sichuan hotpot and attentive customer service. Today, Haidilao have around 800 restaurants worldwide with over 54 million members and more than 100,000 employees. In 2019, the group reported revenue of $4.09 billion and net profit of $360 million.
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