Desmond Shum knows well the cost of doing business in China. Born to a humble family that was marginalized during the Cultural Revolution, he became a wildly successful entrepreneur, along with his ex-wife Whitney, to the tune of billions of dollars. But just as quickly as the Chinese Communist Party elite helped enrich the couple, it tore them down.
In 2017, Whitney disappeared, not to be seen or heard from for four years. She reemerged only on the eve of Desmond’s new book, Red Roulette. If this sounds familiar, it’s because the CCP routinely disappears people who fall out of the Party’s favor. Most recently, tennis champion Peng Shuai vanished after accusing a high-ranking official of sexual assault.
Today, Desmond Shum talks about how all of this happens, as well as his personal experiences during China’s economic boom, how companies like Blackrock both support and fall for CCP propaganda and more.