Zuo Hui, founder of China’s biggest online real estate platform Beike Zhaofang, dies at 50

Zuo Hui, founder of Beike Zhaofang, has died from an “unexpected worsening of [his] illness,” according to filing to the New York Stock Exchange

Zuo, 50, was China’s 15th-wealthiest man according to Forbes, with a net worth estimated at US$14.8 billion

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Zuo Hui, president of Beijing Homelink Real Estate Brokerage, speaking during a session at the China Green Companies Summit in Zhengzhou, China, on Sunday, April 23, 2017. Photo: Bloomberg

Published: 6:06pm, 20 May 2021Updated: 6:05pm, 20 May 2021

Zuo Hui, founder and chairman of China’s biggest online real estate listings and transactions platform Beike Zhaofang, has died. He was 50.

Zuo, China’s 15th-wealthiest man with a net worth estimated at US$14.8 billion, died of an “unexpected worsening of [his] illness,” according to filing to the New York Stock Exchange, where shares of Beike, also known as KE Holdings, are listed.

“We are very saddened by the passing of Mr Zuo and extend our deepest sympathies to Mr Zuo’s family. Mr Zuo was our visionary founder and leader, and a leading figure in China’s housing transactions and services industry … we will move forward to execute on our strategy and growth initiatives, pursue our mission of admirable service, joyful living,” the company’s chief executive Peng Yongdong said in a statement.

Originally from Shaanxi province in central China, Zuo graduated with a bachelor’s degree from Beijing University of Chemical Technology in 1992, earning an executive MBA degree from Peking University in 2008, according to the company’s IPO prospectus. He made his fortune in sales and established an insurance business, according to local media, before he founded Beijing Lianjia Real Estate Brokerage, or known as Beijing Homelink Real Estate, in 2001.

A picture of Beike Zhaofang’s app on a smartphone. Photo: 163.com

“The company is operating in a normal way,” Beike wrote in response to a query by South China Morning Post. “The board will make arrangements for the company’s operations accordingly and will make the announcements within the next two weeks.”

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