The chairman of Chinese ceramics firm Fujian Wanli Group, Wu Duanbiao, sponsored a lavish feast to celebrate on Sunday the wedding of his daughter.
The South China Morning Post reported that the lucky couple received almost $150 million in gifts from her doting father, who also paid for an eight-day banquet. The gifts include four boxes of gold jewelry, $3 million deposited in the couple's bank account, donations to charities in their names, five million shares in Fujian Wanli Group valued at $15 million, a Porsche and a Mercedes Benz, and an impressive property portfolio.
REUTERS Wu Yu and Ji Tingting pose during a photo session before their wedding in Shanghai November 9, 2011.
Because of the mega dowry provided by the rich father-in-law, the groom's finances vastly improved after his Sunday wedding to his childhood sweetheart. The groom, identified as a government official named Xu, used to earn only $24,000 a year before his marriage. The bride and groom were classmates since they were in kindergarten until high school.
Miss Wu then studied at Xiamen University and in the UK, and later became a board member of the family company.
The dowry is a common practice in many Asian countries to ensure the bride will be treated by the husband and his family. Seven-digit dowries are common among rich families in China's Fujian province. Besides the newly married couple, two rich billionaires from the province gave seven-digit dowries for their daughter and niece who married in December.
The son-in-law is apparently a lucky chap because due to the scarcity of eligible Chinese women due to China's law on single birth, many single Chinese men even pay fees beginning at $30,000 just to find a bride.
Matching-making sites such as this one are offering Chinese men and other males single Asian women for marriage.
The report of the mega dowry prompted the Apple Daily, a Chinese newspaper, to comment that marrying the daughter of a rich Fujian resident is "better than robbing a bank."