A billionaire in Hong Kong has decided to let the world know he's an eligible bachelor again by placing full page ads in the papers to announce that he has broken up with his girlfriend and given her nearly $250 million to hit the road.
Joseph Lau made headlines in late 2015 for purchasing a nearly $50 million diamond for his seven-year-old daughter. Lau placed the ads to say that he had broken up with Yvonne Lui in 2014 and that she would not be receiving any more money from him.
Lau, a 65-year-old retail mogul, has two children with 37-year-old Lui. The former couple met 15 years ago in a Louis Vuitton shop in London. Lui, a former beauty pageant contestant, was studying for a degree in chemical engineering when she met Lau in 2001.
Lui may not be getting any more money from Lau, however, he is allowing her to live in the house and use the cars and private jet that he has provided for his children. This provision is so that Lui can accompany his kids on trips and care for them. Take that in for a moment, she's basically been downgraded to being a nanny for her own kids and her baby daddy.
Lau's announcement made five points. He made it clear that he took care of Lui and gave her "lots of money, jewelry and other gifts, the total value of which exceeded HK$2 billion." He went on to say that, as a result, Lui has amassed considerable wealth and can take care of herself.
Lau and Lui never married. Lau is reportedly now in a relationship with his former assistant.
Joseph Lau is one of the richest people in Hong Kong and is well known for his lavish spending. He regularly drops eye popping amounts of money on rare pieces of art, has a red wine collection of 10,000 bottles, and is one of the first people to own a Boeing 787 Dreamliner for private use. He is known for dating some of the most beautiful women in Hong Kong and has quite a playboy reputation. He has a net worth of $7.2 billion.