India Tribune

Friday, Nov 28th

Last update:09:00:07 PM GMT

Headlines:
Serving the Asian Indian community in the US for over 36 years. ***** Established in 1977 ***** Published in three editions - Chicago, New York and Atlanta. ***** Reaches over sixty thousand people every week.
You are here: Home World China bride’s £100 m. dowry

China bride’s £100 m. dowry

Beijing: A Chinese kitchen and bathroom tile magnate has launched his daughter into marriage with a dowry of more than one billion yuan (£100 million).

Wu Ruibiao included as part of his largesse four boxes of gold, which were placed on his daughter’s bed as well as a Porsche and a Mercedes-Benz, which was handed over draped with red ribbons. According to the Straits News newspaper, Ruibiao’s daughter, who has not been named, decided to marry her childhood sweetheart, a local government official called Xu from Jinjiang, an entrepreneurial city on China’s south coast.

An eight-day public wedding banquet began on December 28. But the generosity of the father did not end there. A bank account has been opened with an initial deposit of 20 million yuan and five million shares in Wu’s company, Wanli, with an estimated value of 100 million yuan, were transferred.

Added to the gifts are a list of properties, including several villas and a retail store in Quanzhou city. Wu also gave 15 million yuan to two local charities, for good luck. In recent years, the billionaire entrepreneurs of Jinjiang have competed for bragging rights over who can amass the largest dowry.

According to one Hong Kong newspaper, marrying a girl from Jinjiang is “better than robbing a bank.” The full extent of the 54-year-old Wu Ruibiao’s wealth is unknown. According to company records, he only drew a salary of £12,000 last year. His daughter is already on the board of his  company,   Wanli, and recently masterminded a stock market listing in Korea.