Chinese idol singer Huang Zitao said to inherit assets worth $4 billion with father's death

Chinese idol singer Huang Zitao seems set to inherit assets worth a jaw-dropping $20 billion yuan (S$4 billion) with the passing of his father Huang Zhongdong.

The elder Huang died on Sept 11 due to an illness at the age of 52. His death was confirmed by Chinese entertainment company L.TAO Entertainment, which he and Zitao founded after the 27-year-old left the South Korean-Chinese pop group EXO.

Apart from owning two companies, Huang also had four or five properties and was reportedly the seventh richest person in Qingdao, a city in China.

Surprisingly, Zitao, an only child, had no idea that his father was rich until he was much older.

In previous interviews, Huang disclosed that he had never revealed the family's financial status to his son. He also told Zitao that the family was poor and Zitao was raised as if he was poor.

Huang recounted how Zitao dropped out of senior high school (secondary school) halfway and said he had found a good job distributing flyers. What Zitao didn't realise was that the location was in front of Huang's previous company.

Huang had said: "I sat in my car and cried watching Zitao distribute flyers in winter. I also watched as he took public transport home."

Close friends of the former K-pop star are confident that Zitao will return to showbiz despite his newfound riches.

A source reportedly said: "Zitao seeks his father's approval for almost everything. He's quite dependent on his father. Now that his father has suddenly died, it's definitely a blow to him. He looks very haggard. Give him some space.

"He loves performing and I believe after spending some time to settle his family affairs, he'll come back to showbiz."

bryanlim@asiaone.com