Hong Kong: Why be content with almost $2 billion when your net worth can be multiples more simply by moving your company from one stock exchange to another? Zhou Hongyi did just that, relocating his online security firm to China and merging it into a shell company, which soared as much as 550% since he announced the plan in November. Qihoo 360 Technology Co. delisted from the New York Stock Exchange in July 2016 and began trading Wednesday in Shanghai as 360 Security Technology Inc . The shares swung between gains and losses on Wednesday -- opening 3.8% higher before declining 10% as of the close in Shanghai. Yue Jing, a company spokeswoman, declined to comment on Zhou’s net worth.

Source: Economic Times February 28, 2018 17:48 UTC