The mother of the prime minister of China was a career schoolteacher in China, while the prime minister’s father was at one time ordered to tend to pigs. During the prime minister’s childhood, his family lived in extreme poverty he said in a speech in 2011.
Wen Jiabao, the Chinese Prime Minister has not only left his poverty behind, but so has his mother who is now 90 years of age. His mother, Yang Zhiyun has become incredibly rich, at least according to regulatory and corporate papers. One of the investments she has in her name is for a financial services business in China that is valued at more than $120 million.
What is not known is how a widow was able to accumulate her wealth or even if she was aware of all the holdings in her name. It happened following her son’s move up to the ruling elite in China, first as vice prime minister in 1998 and then in 2003 as prime minister.
A number of his relatives including his daughter, son, brother and a brother in law have also become extraordinarily rich while he has been in leadership. This is according to an investigation conducted by the New York Times. In all, the family is worth an estimated $2.7 billion.
The Chinese government has now blocked access to the New York Times on internet in China. They did the same thing to Bloomberg News last June when it reported that Xi Jinping’s extended family had amassed millions of dollars in assets. Jinping is the current Vice President and will become the next president of China when the once a decade power exchange is made at the beginning of 2013.