Once one of China’s wealthiest celebrities and hailed as the “female Warren Buffett,” Zhao Wei now finds herself in financial ruin. Recent reports from Sina Finance and Sohu reveal that the actress’s assets have been frozen by the Beijing Dongcheng District People’s Court due to debts linked to her ex-husband’s family business.
Zhao’s downfall stems from a costly mistake — acting as a guarantor for a self-balancing vehicle company run by Huang Li, her ex-husband Huang Youlong’s sister. The company went bankrupt in 2021, leaving behind massive unpaid debts. As Huang Li and her husband disappeared and Huang Youlong became entangled in tens of millions of dollars in financial trouble, Zhao Wei was left to shoulder the liabilities.
Though she finalized her divorce in 2021, Zhao continued to face the consequences. At one point, even gangsters reportedly approached her to collect debts.
According to the Tianyancha business app, Zhao’s shares in three companies — Tibet Longwei Culture & Media Co., Ltd., Dongrun Investment Co., and Hebao Entertainment Group — have now been frozen for three years. With no remaining assets in China, Zhao is unable to repay even modest debts, such as a 14,000 yuan (~$2,000 USD) loan.
Her business empire, once valued at around $1 billion USD, has collapsed completely. This financial turmoil is not new for Zhao. In 2018, she and Huang were fined 300,000 yuan each by the China Securities Regulatory Commission (CSRC) for stock market manipulation, and they were banned from securities activity for five years. While Huang reportedly fled abroad, Zhao faced over 400 lawsuits in China and tried to manage the fallout alone.
Now, Zhao Wei is banned from the securities market, blacklisted from film and entertainment projects, and has no visible sources of income. Her glamorous public image has given way to a life overshadowed by legal battles, debt, and financial collapse — a stark reminder of how quickly fortunes can change in the entertainment and business worlds.
Sources: K14