Major Domus Family Office

02/08/2026

A Hong Kong court has rejected an appeal by Kelly Zong, heiress to China's Wahaha Group, keeping a US$1.8 billion HSBC account frozen amid an ongoing inheritance battle with her three half-siblings.

The Court of Appeal upheld previous orders preventing Kelly from accessing the funds and requiring her to disclose transactions related to the account. She was also ordered to pay HK$250,000 (US$31,880) in legal costs.

The dispute centers on claims by Jacky, Jessie and Jerry Zong, who allege that their late father, Wahaha founder Zong Qinghou, promised each of them a US$700 million offshore trust before his death in 2024. They argue Kelly failed to establish the trusts and instead withdrew more than US$6 million from the account intended to fund them. Documents submitted to the court reportedly include handwritten instructions from Zong and an agreement signed by all four siblings after his death.

While Kelly can still make a final appeal, the assets will remain frozen as the broader inheritance case continues. The high-profile dispute has drawn widespread attention in China, raising fresh questions about succession planning within the country's largest family-owned business empires.

01/08/2026

Hedge Funds are ‘forgetting to hedge’.

If quants are the masters of algorithmic trading and hedging, why are we seeing funds melt down or blow up?

A hedge fund linked to one of China’s best-known quant firms lost more than 40% of its value in just over three weeks of trading this month, underscoring the widespread pain for hedge funds as artificial intelligence-linked shares plummeted.

Read more at the link in our comments.

25/07/2026

Data center power demand in the US is projected to surge +253% from 2026 levels, to a record 194 gigawatts by 2035.

One gigawatt is roughly equivalent to the capacity of a single traditional nuclear reactor.

As a result, data centers are expected to account for ~20% of US electricity consumption by 2035, up from ~6% today.

To put this into perspective, data centers are estimated to consume ~12% of US electricity by 2030.

Much of this growth is concentrated in a handful of grid regions, such as PJM, which serves the District of Columbia and 13 states, including Virginia, Pennsylvania, and Ohio.

Electricity is the next AI bottleneck.

04/07/2026

From Factory Floor to Billionaire: The Story of Zhang Xin

Few entrepreneurial stories demonstrate the power of resilience and timing quite like Zhang Xin’s. Growing up during China’s Cultural Revolution, Zhang left Beijing as a teenager to work on factory assembly lines in Hong Kong, saving every dollar she could to fund her education at Sussex and Cambridge. Returning to China in the mid-1990s, she co-founded SOHO China and helped transform Beijing’s skyline during one of the greatest urbanisation booms in modern history. Her journey is a compelling reminder that vision, education and courage can turn extraordinary opportunities into lasting success.

Read the full Wall Street Journal story: How a Hong Kong Factory Worker Became One of the World’s Richest Self-Made Women

She was living with her mom in Hong Kong and working an assembly-line job six days a week. How did she become one of the richest self-made women on the planet?

🔗: https://on.wsj.com/4axYhw0

26/06/2026

Micron is officially the most traded stock in the US.

Daily turnover in Micron stock surpassed $70 billion for the first time, making it the most traded stock in the US.

This metric has surged +1,100% since the start of 2026.

This also puts Micron ahead of both Nvidia and Tesla, two of the most actively traded US stocks in 2025.

To put this into perspective, neither NVDA nor TSLA exceeded $70 billion in daily turnover over the last 12 months.

This comes as MU has surged +268% year-to-date and has been the biggest contributor to the S&P 500’s +7.5% gain so far this year.

Micron has become the center of the AI trade.

19/06/2026

US semiconductor ETFs, SMH, and SOXX, attracted +$4.7 billion in inflows last week, the largest combined weekly inflow on record.

This exceeds the previous weekly record by ~$1.8 billion, or ~62%.

Half of the most-traded ETFs in early June were related to semiconductor stocks.

As a result the semiconductor index, SOX, is up +90% year-to-date, massively outperforming other sectors.

15/06/2026

SpaceX on Friday saw its stock closing at around $161 after being priced at $135 per share. That put the company’s market capitalization above $2 trillion, after the biggest initial public offering in history. The stock added about $31 on Monday to close at $192.50.

SpaceX is valued at over $2 trillion after its stock rallied on the first day of trading last week.

23/05/2026

Global investors are rushing into Chinese equities:

Foreign inflows into Chinese stocks surged to +$29 billion in April, the highest monthly inflow since January.

This was also the 5th-largest monthly intake on record.

This marks a sharp recovery from two consecutive months of outflows in February and March.

Year-to-date, investors from overseas have poured +$72 billion into Chinese stocks.

As a result, the CSI 300 Index rose +8% in April and is up another +1% so far in May.

Foreign appetite for Chinese stocks is surging.

15/05/2026

Cerebras Systems soared 68% in its Nasdaq debut on Thursday, closing at $311.07 after selling shares at $185, well above the company’s expected range. That values the chipmaker at about $95 billion.

The company sold 30 million shares in its offering late Wednesday, raising $5.55 billion, the largest initial public offering for a U.S. tech company since Uber’s debut in 2019. If underwriters exercise their option to buy 4.5 million additional shares, total proceeds could reach $6.38 billion.

Cerebras is taking advantage of a bull market for silicon, as the chipmaker becomes one of the most notable pureplay AI IPOs to date.

09/05/2026

The Major Domus board recently convened in Sydney, hosting a select group of family offices and ultra-high-net-worth investors for a private discussion on evolving legacy trends in global family office structures and emerging investment opportunities amid the accelerating influence of artificial intelligence on financial markets.

A highly engaging closed-room session with leading investors, operators, and advisors exploring the intersection of capital preservation, generational wealth, and the AI-driven transformation of global markets.