Guo Wengui: a Manhattan caper worthy of a spy thriller

Chinese billionaire Guo Wengui fled Xi Jinping’s regime to claim asylum in the US. But now the American authorities are after him too.

Guo Wengui
(Image credit: © DON EMMERT/AFP via Getty Images)

When it comes to nautical notoriety, the Lady May, a 151-foot aluminium superyacht registered under the Cayman flag, is not quite up there with Robert Maxwell’s Lady Ghislaine. But it is getting there. The vessel, owned by the exiled Chinese billionaire, Guo Wengui – an ally and business partner of Steve Bannon, Donald Trump’s political strategist – was the scene of Bannon’s dramatic arrest in August 2020 on fraud charges. Now it is the centrepiece of Guo’s fight for financial survival, says Bloomberg. Earlier this month, a New York court ordered the businessman to pay $134m in fines “for moving and keeping the yacht out of reach” of his US creditors. Guo responded by filing for bankruptcy protection last week.

A useful bargaining chip

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Jane writes profiles for MoneyWeek and is city editor of The Week. A former British Society of Magazine Editors editor of the year, she cut her teeth in journalism editing The Daily Telegraph’s Letters page and writing gossip for the London Evening Standard – while contributing to a kaleidoscopic range of business magazines including Personnel Today, Edge, Microscope, Computing, PC Business World, and Business & Finance.

She has edited corporate publications for accountants BDO, business psychologists YSC Consulting, and the law firm Stephenson Harwood – also enjoying a stint as a researcher for the due diligence department of a global risk advisory firm.

Her sole book to date, Stay or Go? (2016), rehearsed the arguments on both sides of the EU referendum.

She lives in north London, has a degree in modern history from Trinity College, Oxford, and is currently learning to play the drums.