NewsBite

She made $600m selling fish oil. Now Jina Chen wants her company back

She made $600m selling fish oil. Now Jina Chen wants her company back

One of the country’s wealthiest immigrant families has pitted itself against investment funds controlled by Beijing in a fight over the future of Nature’s Care.

Aaron PatrickSenior correspondent

Subscribe to gift this article

Gift 5 articles to anyone you choose each month when you subscribe.

Subscribe now

Already a subscriber?

It was Christmas Eve, and most families were making holiday plans, with one eye on the storms threatening to roll across Australia’s east coast. The Wus – wealthy and very, very private – had other things on their minds.

Jina Chen, the matriarch, Alex Wu, her husband, and Michael and Jack Wu, their two children, had come up with an audacious play. Even though they were the targets of one of the biggest attempted asset seizures in Australian Taxation Office history, the Wus were working on a plan to take back control of their family business – one they had sold for a fortune to an entity far more formidable than the tax office: the Chinese government.

Subscribe to gift this article

Gift 5 articles to anyone you choose each month when you subscribe.

Subscribe now

Already a subscriber?

Read More

Aaron Patrick
Aaron PatrickSenior correspondentAaron Patrick is the senior correspondent. He writes about politics and business from the Sydney newsroom. Email Aaron at apatrick@afr.com

Latest In Healthcare & fitness

Fetching latest articles

Original URL: https://www.afr.com/companies/healthcare-and-fitness/she-made-600m-selling-fish-oil-now-jina-chen-wants-her-company-back-20240301-p5f943