Teddy Wang was a prominent Chinese businessman and founder of the Chinachem Group who was kidnapped for ransom in 1990 and later declared legally dead.
Teddy Wang's hometown is Wenzhou and was born in Shanghai, China to Wenzhounese parents.
He was a childhood playmate of Kung Yu Sam (aka Nina Wang). He was the son of Wang Din-shin, who had established a paint and chemical business. The Wangs moved to Hong Kong, and the business became the Chinachem Group, eventually one of Hong Kong's largest and most powerful companies based on a lucrative pharmaceutical division.
Wang was abducted on 12 April 1983, when his Mercedes was hijacked. He was taken away and chained to a bed for eight days until Nina Wang paid a ransom of 33 million Hong Kong dollars. Wang was kidnapped again for a second time on 10 April 1990 as he left the Jockey Club in Hong Kong, at the age of 57.
His abductors demanded HK$60 million. Several of the alleged kidnappers were caught and said that the 57-year-old Wang had been thrown into the sea from the sampan—a small Chinese boat—where he was held. His body was never found and he was declared legally dead in 1999.
Wang's will was disputed by Nina Wang, the eventual chief beneficiary.