The founder of Prince Group was born in 1987 in Fujian, China. Currently, Chen Zhi has given up his Chinese nationality but has a Cyprus, Vanuatu, and Cambodian passport.
Starting out as a young entrepreneur opening video game centers in Fujian, Fujian Province, China, Chen Zhi invested in real estate in Cambodia since 2011, then established Prince Group, with cross-industry business areas, including entertainment, finance, and even an airline.
Chen Zhi lives mainly in Singapore. In 2017, Chen Zhi spent nearly $29 million on high-end properties in the Southeast Asian island nation, including a $12.5 million penthouse at gramercy Park, near orchard Road shopping mall.
An apartment worth $11.8 million at the Le Nouvel Ardmore designed apartment building in Singapore became the main center of operations, according to 2 sources familiar with the matter. This apartment has a wine cellar, overlooking the whole city, renovated into a business club, with a separate area for karaoke and cockfighting.
Chen Zhi travels across Singapore in luxury cars, including a black Mercedes-Maybach with the 5555 license plate. Chen Zhi's group often organizes parties, including on the 53m long luxury yacht NonNI II, which is usually parked on sentosa.
In 2018, Chen Zhi's family asset management office - DW Capital Holdings - was established in Singapore, self-managing about 44 million USD in assets. Chen Zhi and his colleagues also established a company called Skyline Investment Management in Singapore, specializing in car loans.
In a suburban area, companies controlled by Chen Zhi opened a common working space and had a tea, whisky, and cigarette warehouse exempted from taxes by Singaporean authorities.
Even when the US publicly announced the indictment of Chen Zhi, the family asset management office still posted personal assistant recruitment, work including going to the market, picking up and dropping off children to school, with a salary of up to more than 4,000 USD/month. A source said that Chen Zhi is married and has 3 children who used to live in Singapore.
On October 31, Singapore Police announced the launch of a law enforcement campaign against Chen Zhi and her colleagues and officials to seize more than $110 million in assets, and froze a yacht, 11 cars and many bottles of wine.
Chen Zhi also has assets in many other important locations. In London, the Prince Group's founder owns a $123 million office building on fenchurch Street, in the former financial area, along with a $14.8 million mansion and 17 apartments on New Oxford Street and Nine Elms, south of London.
In Taiwan (China), Chen Zhi Prince Group spent about 123 million USD to buy high-end real estate in Taipei from April to November 2019.
In Hong Kong (China), Chen Zhi and Prince Group controlled more than 300 million USD in assets, from shares in listed companies to real estate. Chen Zhi is a controlling shareholder of two companies listed on the Hong Kong (China) exchange, Geotech Holdings - a construction technical service provider, and Khoon Group - a Singapore-based electromechanical service provider. These two stocks have a total value of about 14 million USD.
Chen Zhi's empire even reached the remote Palau island nation. Here, Prince Group was accused of collaborating with organized criminal service providers to rent islands and build resorts.
