ZEG was called China’s Blackstone. With 50,000 high-net-worth investors, nearly 5,000 corporate clients, and 13,000 financial advisors, It’s one of China’s largest wealth management companies. However, this financial giant has collapsed, filing for bankruptcy at the beginning of 2024. The rise and fall of ZEG and its subsidiary ZRT coincide with the come-and-go of China’s economic reforms. Its founder was an enigmatic man who died suddenly two years ago. Some say his death could have been prevented if he hadn’t trusted Xi Jinping. Who is Xie Zhikun, and could he have prevented his company’s demise?
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