What happened to Steven Zhang? His net worth and what the former Inter Milan president—now owned by the Oaktree investment fund—is up to today, balancing his business and private lives.
How much does Steven Zhang earn? This is a question that continues to circulate today, more than a year (2024) after his forced farewell to Inter, a club that under his presidency experienced one of the most successful seasons in its recent history. The transfer of ownership to the Californian company Oaktree marked a turning point for the Nerazzurri and, at the same time, closed a complex, controversial, yet fascinating chapter in the Zhang family’s Italian career.
Steven Zhang, the youngest former president in Inter’s history, remains a central figure in global football business today: the son of one of China’s great tycoons, educated between East and West, and capable of navigating international finance, sports management, and social life. He’s been in the news recently not only for the events surrounding Suning’s fall from power at the Milanese club, but also for his private life, thanks to a viral photograph of him alongside global pop icon Rihanna, sparking international media attention.
On the legal front, Zhang’s name has returned to the spotlight following the Milan Court’s acquittal in the case brought by China Construction Bank, relating to an alleged €320 million debt. This decision also had direct effects on Inter, which was freed from the obligation to pay him his €5.6 million outstanding salary. While this outcome isn’t enough to completely change Zhang’s Nerazzurri career, it has restored Steven’s status as a central figure in the international economic and financial landscape. But what does he do today and, more importantly, how much is his net worth?
What happened to Steven Zhang? Here’s what he does today
After leaving Inter, Steven Zhang has chosen a much more low-key profile than during his years in Milan. No public appearances related to European football, no operational role within the new Nerazzurri era led by Oaktree, which officially took control of the club in May 2024 after the enforcement of the pledge on the shares held by Suning. Since then, Zhang Jr. has gradually refocused his activities between Asia and the United States, focusing on private investments and the reorganization of family assets.
According to international financial sources such as Bloomberg and Financial Times, Steven Zhang continues to operate as an advisor and investor in technology and finance, with a particular focus on digital retail and innovative services, historically tied to Suning’s DNA. While he doesn’t hold any publicly disclosed senior positions, he remains an influential figure within the Chinese entrepreneurial ecosystem, especially in his relationships with international funds and Western financial institutions.
At the same time, Zhang has intensified his presence in the United States, where he maintains strong ties built during his academic training. His lifestyle now appears more private, but not without its share of attention: exclusive events, high-profile associations—see the rumors with Rihanna—and constant interest from the gossip media testify to his continued strong appeal. Football, at least for now, seems a thing of the past, but in the business world, Steven Zhang remains under special observation.
Biography and career of Steven Zhang, former Inter Milan president
Born in Nanjing on December 21, 1991, Steven Zhang grew up in one of the most influential families in Chinese business. His father, Jindong Zhang, founder of Suning, transformed a small appliance store opened in 1990 into a retail giant with tens of thousands of employees and a widespread presence throughout China in just a few decades. From a young age, Steven was prepared for a future as a global executive, with a curriculum designed to combine international vision and financial rigor.
After middle school in China, at just 15 years old, he moved to the United States to attend Mercersburg Academy in Pennsylvania. Here, he developed a solid Anglo-Saxon education, which led him to earn a degree in Economics from the prestigious Wharton School of the University of Pennsylvania, one of the most respected business schools in the world. He rejected offers from universities such as MIT and Duke University, immediately confirming his selective, finance-oriented profile.
After completing his studies, Zhang began his professional career at Morgan Stanley, an experience that allowed him to familiarize himself with the mechanisms of global markets. In 2016, he returned to China to take on the role of Director of Commercial Development at Suning, the very year the group acquired a 68.55% stake in Inter from Erick Thohir for approximately €700 million. He was then sent to Milan and appointed to the club’s board of directors.
On October 26, 2018, he officially became new president of Inter, the youngest in the club’s history. Under his leadership, Inter won the 2021 Scudetto, two Coppa Italia titles, and three Supercoppa Italiana titles, as well as reaching the 2023 Champions League final. At the same time, however, Suning’s financial difficulties emerged, exacerbated by the pandemic and the restrictions imposed by the Chinese government on overseas investments.
On the legal front, Zhang was involved in a dispute in Hong Kong regarding creditors owed 250 million euros, which he lost after an expert opinion confirmed the authenticity of the disputed signatures. The Italian situation was different, ending with an acquittal in the case brought by China Construction Bank. Finally, the failure to repay the €275 million loan contracted with Oaktree in 2021 led to the definitive loss of control of Inter, valued at over a billion euros according to Forbes.
Steven Zhang’s Net Worth
Quantifying Steven Zhang’s personal wealth precisely is not easy, especially after his departure from Inter and the restructuring of the family’s assets. What is certain is that his wealth has always been closely linked to that of Suning and, by extension, to the wealth of his father, Jindong Zhang. According to Forbes, in April 2022, the Suning founder was worth an estimated $7.4 billion, a slight increase compared to the previous year.
In recent years, however, the group has seen a sharp deterioration in its financial statements: In 2022, Suning closed its financial statements with a loss of 525 million euros, following the loss already recorded in 2021. Beijing’s policies of debt containment and reduction of investments in football have profoundly affected available liquidity, limiting the Zhang family’s ability to support Inter and refinance the debt with Oaktree. Following the failure of an attempt to involve Pimco, a handover became inevitable.
On a personal level, Steven Zhang earned a millionaire salary during his years as president, culminating in the 5.6 million euros in arrears that the club no longer has to pay him following his acquittal in Milan. Today, his income comes primarily from financial and consulting activities, as well as private, non-public holdings. The peaks of the past coincide with Inter’s golden years and Suning’s greatest expansion, while the present speaks of a reduced assets but still significant, supported by international relations and a solid financial background.
Steven Zhang, far from the spotlight of San Siro, thus remains a young protagonist of global capitalism: less president, more investor, with a future still to be written, given his very young age.
Original article published on Money.it Italy. Original title: Quanto guadagna Steven Zhang? Patrimonio e biografia dell’ex presidente dell’Inter
