Zhang Li (; born ), is a Chinese billionaire who is a co-founder of Guangzhou R&F Properties. He is president of Fuli Group ().

Biography

Zhang is from Guangzhou, Guangdong, China. Zhang at beginning was an industrial worker in a textile factory which he joined in 1973, later became an official serving in the local government. In 1986, he became the chief manager of the Garden Village Hotel (). Two years later, he first entered the constructional industry, then developed his own business in the field of real estate. He has a long cooperation with the Hong Kong-based businessman LI Silian (). In 2002, Zhang first invested in Beijing, with 3.2 billion Chinese Yuan. He mainly invested in real estate in Beijing, to fit the demands of the Beijing 2008 Olympic Games. , Forbes reported Zhang's net worth as . In December 2023, Zhang resigned from his positions of

CEO A chief executive officer (CEO), also known as a central executive officer (CEO), chief administrator officer (CAO) or just chief executive (CE), is one of a number of corporate executives charged with the management of an organization especially ...

and board member of R&F properties.

Bribery charges and plea deal

On November 30, 2022, Zhang was arrested in London, England, on charges of bribing convicted felon

Mohammed Nuru Mohammed Nuru (born November 15, 1962, England) is an American former civil servant and convicted criminal. He was formerly the Director of the San Francisco Department of Public Works where he was involved in a corruption scandal. Personal li ...

in San Francisco. Zhang was released on bail of . , Zhang was confined to a "5-bedroom penthouse apartment on the 43rd floor of an R&F-owned tower." In July 2023, Zhang returned to San Francisco and admitted bribing Nuru in order to fast-track one of his projects in the city. Zhang plied Nuru with meals, gifts, hotel stays, and other benefits in exchange for Nuru's help in securing favorable treatment for the project. Zhang agreed to pay a $50,000 fine and admit his bribes and other corrupt acts as part of a plea deal with prosecutors. If he abides by the terms of the deal, the charges against him will be dropped in three years. As part of Zhang's plea deal, his company, Z&L Properties, was fined $1 million.

References

{{DEFAULTSORT:Zhang, Li Living people Billionaires from Guangdong Chinese real estate businesspeople Businesspeople from Guangzhou Chinese company founders Year of birth missing (living people)