Married Chinese billionaire seen kissing woman in lift, infidelity rumours wipe S$3.79 billion off company's stocks (opens original article in a new tab)

A married Chinese billionaire, Chen Tao, faced infidelity rumors after a video showed him with a woman in a lift, causing his company's stock to drop by S$3.79 billion. The stock later rebounded, and the company denied the rumors affected operations.

• Chen Tao's company, Victory Giant, saw a S$3.79 billion stock drop after infidelity rumors.
• A video showed Chen with a woman in a lift, leading to online accusations.
• Victory Giant's stock rebounded after falling 9% following the rumors.