Wu Yajun, One Of World's Richest Women, Hands Fortune To Daughter

Chinese real estate developer Wu Yajun, cofounder and chairperson of Hong Kong-listed Longfor Group Holdings, has transferred control of her 44% stake in the company to daughter Cai Xinyi “for the purpose of family wealth and succession planning,” Longfor said in a statement on Thursday. Cai will vote her shares in line with Wu’s instructions, the statement said.