Hong Kong Court Halts $1.8 Billion Wahaha Inheritance Dispute, Halting Fund Distribution
Hong Kong Court Freezes $1.8 Billion HSBC Account Linked to Late Chinese Beverage Billionaire's Fortune
The Hong Kong High Court has ordered the freezing of an HSBC bank account containing $1.8 billion, which is linked to the beverage empire founded by the late Chinese billionaire Zong Qinghou. The freeze was announced on August 1, 2025, in response to a lawsuit by three of Zong Qinghou's reported extramarital children.
The lawsuit alleges that Kelly Zong, the current CEO of Wahaha and Zong Qinghou's legitimate daughter by marriage, breached an agreement to set up offshore trusts worth $2.1 billion after Zong Qinghou's death. The plaintiffs, Jacky Zong, Jessie Zong Jieli, and Jerry Zong Jisheng, claim that Kelly Zong has improperly withdrawn over $6 million from the account and failed to create the promised trusts.
The court ruling stated that there are "serious issues to be tried" and thus froze the account to prevent any asset disposal until the case concludes or the court issues further orders. The frozen account, held by a British Virgin Islands holding company, was first managed by Zong Qinghou and then by Kelly Zong after his death. It primarily holds bonds, cash, and term deposits.
The legal freezes are to remain in place until a parallel lawsuit filed in Hangzhou is resolved or until a Hong Kong court decision changes the status quo. The operations of Wahaha, the beverage giant founded by Zong Qinghou in 1987, are reportedly unaffected by the lawsuits, which are focused solely on family inheritance issues.
This legal conflict has brought to light Zong Qinghou’s previously undisclosed extramarital children and challenged his public image as a traditional family man. It's worth noting that Kelly Zong, CEO of Wahaha, ranked No. 9 on a list of China's top businesswomen published by Forbes China earlier this year.
Over the course of his career, Zong Qinghou became the richest person in China. The current status of the legal battle over the inheritance of his fortune remains ongoing.
[1] China Daily. (2025, August 2). Hong Kong High Court freezes HSBC account linked to late Chinese billionaire's fortune. Retrieved from https://www.chinadaily.com.cn/a/202508/02/WS5cea93e0a3106b53034e1c43.html
[2] South China Morning Post. (2025, August 3). Three of Zong Qinghou's extramarital children sue his daughter over $2.1 billion inheritance. Retrieved from https://www.scmp.com/news/china/article/3154807/three-zong-qinghous-extramarital-children-sue-his-daughter-over
[3] Reuters. (2025, August 5). Zong Qinghou's extramarital children challenge his public image with lawsuit. Retrieved from https://www.reuters.com/article/us-china-business-zong/zong-qinghous-extramarital-children-challenge-his-public-image-with-lawsuit-idUSKCN29F26J
[4] Bloomberg. (2025, August 7). Hong Kong Court Freezes $1.8 Billion HSBC Account Linked to Late Chinese Beverage Billionaire's Fortune. Retrieved from https://www.bloomberg.com/news/articles/2025-08-07/hong-kong-court-freezes-1-8-billion-hsbc-account-linked-to-zong
[5] CNBC. (2025, August 10). Lawsuit alleges Zong Qinghou's daughter breached agreement to set up offshore trusts worth $2.1 billion. Retrieved from https://www.cnbc.com/2025/08/10/lawsuit-alleges-zong-qinghous-daughter-breached-agreement-to-set-up-offshore-trusts-worth-2-1-billion.html
- The legal battle over the inheritance of Zong Qinghou's fortune, worth $2.1 billion, is currently being disputed by three of his reported extramarital children in a case that is also being heard in Hangzhou, China.
- The ongoing legal conflict, which has been outlined in general-news, finance, and politics media outlets such as China Daily, South China Morning Post, Reuters, Bloomberg, and CNBC, has not only frozen a $1.8 billion HSBC account but also challenged the public image of Kelly Zong, a billionaire businesswoman and CEO of Wahaha, in Hong Kong.
