W ang Zhenhua is a Chinese real estate tycoon and the founder of Seazen Group (formerly Future Land Development), a major Chinese property developer. He built the company into a major national player with a large and diversified portfolio of residential and commercial properties, including a major chain of shopping malls under the Wuyue Plaza brand. However, his career has been completely derailed by a major personal scandal.
In 2019, he was arrested in Shanghai on charges of child molestation. The scandal was a massive public relations disaster for the company, and he was forced to resign as chairman, handing over the leadership to his son, Wang Xiaosong. He was later convicted and sentenced to a prison term. The company has also been severely impacted by the recent liquidity crisis that has engulfed the Chinese real estate sector. His fortune, which is derived from his family's stake in the company, has been massively diminished by these events.
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