Futu’s Li Hua Bounces Back From Crackdown, Amasses $9.6 Billion Fortune
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Pedestrians in Hong Kong walk past a sign bearing the logo of the online financial services platform Futu Holdings, which is bouncing back from a government crackdown. Sebastian Ng/SOPA Images/LightRocket via Getty Images Li Hua, founder of the Chinese online brokerage and wealth management platform Futu Holdings, has seen his net worth more than triple to $9.6 billion from 2024 levels, proof of a successful strategy to counter a government crackdown that threatened his core business. The 47-year-old, who is Futu’s chairman and CEO, derives his wealth from a stake in the Nasdaq-listed company. Shares have rallied more than 200% over the past year as investors approve of the company’s international expansion and progress in attracting new customers and investors who use one of the company’s apps. This vote of confidence comes after Futu was forced into survival mode following a government crackdown that started in 2022. Amid worries over capital outflow and data security, authorities in mainland China asked Futu and its competitor Up Fintech Holding to stop taking new onshore app users. The company’s Futubull trading app was removed from app stores in mainland China in 2023, dealing another blow to its attempts to grow. Existing users could still access the platform. Today, Futubull is still not available to onshore investors in mainland China. But over the past three years, Li has expanded to international markets including Malaysia, Singapore and the U.S. The company has devised clever marketing campaigns that include giving free Apple shares to users in Malaysia and sponsoring the New York Mets baseball team in the U.S. Amid the equity boom in markets such as the U.S. and Hong Kong, Futu’s retail users are eager to trade stocks via its Moomoo international platform. “They have made eye-catching progress in user acquisition, profit and sales,” Wang…
Filed under: News - @ August 27, 2025 9:26 am