Teddy Wang Teh-huei (; 9 September 1933 – missing since 10 April 1990) was a
Chinese businessman and founder of the
Chinachem Group who was kidnapped for
ransom
Ransom is the practice of holding a prisoner or item to extort money or property to secure their release, or the sum of money involved in such a practice.
When ransom means "payment", the word comes via Old French ''rançon'' from Latin ''red ...
in 1990, and later declared
legally dead. His wife,
Nina Wang
Nina Wang, born Kung Yu Sum () 29 September 1937 – 3 April 2007) was Asia's richest woman, with an estimated net worth of US$4.2 billion at the time of her death. She was the widow of Hong Kong chemical magnate Teddy Wang, who was kidnapped ...
later launched a lengthy legal battle over her husband's
will
Will may refer to:
Common meanings
* Will and testament, instructions for the disposition of one's property after death
* Will (philosophy), or willpower
* Will (sociology)
* Will, volition (psychology)
* Will, a modal verb - see Shall and will
...
.
Life and career
Teddy Wang was born in
Shanghai,
China
China, officially the People's Republic of China (PRC), is a country in East Asia. It is the world's most populous country, with a population exceeding 1.4 billion, slightly ahead of India. China spans the equivalent of five time zones and ...
to
Wenzhounese parents, the son of paint and chemical business proprietor Wang Din-shin. He was a childhood playmate of Kung Yu Sam (Nina Wang). In 1948, when she was 11 and him being 15, they renewed their friendship, and they married in 1955. The Wangs moved to Hong Kong, and the business became the Chinachem Group, eventually becoming one of the territory's largest and most powerful companies due to its lucrative pharmaceutical division.
Kidnapping and death in absentia
Wang was abducted on 12 April 1983, when his
Mercedes-Benz was hijacked. He was taken away and chained to a bed for eight days until Nina Wang paid a ransom of
HK$33 million.
Wang was kidnapped again on 10 April 1990 as he left the Jockey Club in Hong Kong. His abductors demanded HK$60 million. His wife Nina paid an installment of $34 million, but Wang was not returned. Several of the alleged kidnappers were caught and said that the 56-year-old Wang had been thrown into the sea from a
sampan
A sampan is a relatively flat-bottomed Chinese and Malay wooden boat. Some sampans include a small shelter on board and may be used as a permanent habitation on inland waters. The design closely resembles Western hard chine boats like th ...
on 13 April. His body was never found and he was declared legally dead in 1999. Wang's will was disputed by Nina, the eventual chief beneficiary. According to Nina's personal assistant, she had received phone calls from Teddy up to the year 2000.
See also
*
''Crime Story'', based on his final kidnapping
*
List of people who disappeared
Sources
Forbes
References
External links
Corporate Page
{{DEFAULTSORT:Wang, Teddy
1933 births
1990s missing person cases
Billionaires from Shanghai
Businesspeople from Shanghai
Chinachem
Hong Kong billionaires
Hong Kong chief executives
Kidnapped Hong Kong people
Missing person cases in China
People declared dead in absentia