Jack Ma’s Wife Buys Former Italian Embassy in London for $25.7 Million

Staff Writer

Nov. 14, 2025

Jack Ma’s wife, Cathy Ying Zhang, has purchased the former Italian Embassy in London’s Belgravia for $25.7M, adding to the family’s growing global property portfolio.

The wife of Chinese billionaire Jack Ma has acquired a historic London residence once used as the Italian Embassy, marking one of the city’s notable high-end property deals of 2024.

According to the Financial Times, Cathy Ying Zhang purchased the Belgravia townhouse for $25.7 million (GBP 19.5 million) last autumn, based on UK Land Registry data and sources familiar with the transaction. The sale ranked as the 34th most expensive London property deal of 2024, according to LonRes.

A Landmark Residence With Diplomatic History

The 7,948-square-foot mansion occupies a prime corner in Belgravia and carries significant historical value. It served as the Italian Embassy during the 1920s and later housed the Italian defense attaché. The building was eventually converted into a private home featuring a lift, cinema, and six bedrooms.

The property first made headlines in 2024 when it hit the market with an asking price of $28.3 million (GBP 21.5 million). When the house quietly sold months later, the buyer’s identity was initially undisclosed. The investigative journalism group SourceMaterial later confirmed Zhang as the purchaser.

Cathy Ying Zhang.

Expanding Global Property Holdings

The acquisition adds to an already substantial international real estate portfolio associated with Ma and Zhang.

In 2024, Ma purchased three adjoining shophouses in Singapore for $34.6 million (SGD 45 million). Zhang also owns a Hong Kong-based entity previously used by Ma to acquire a château and vineyards in France.

Their earlier real estate purchases include a luxurious property on Hong Kong’s Victoria Peak acquired via BVI-registered firms, which once served as the Belgian consul’s residence. In the United States, Ma paid $23 million in 2015 for a sweeping 28,100-acre estate in New York’s Adirondacks, complete with a horse barn, trout streams, and a maple syrup operation.

As of November 11, 2025, Jack Ma’s net worth stands at $30.6 billion, making him the world’s 70th richest individual, according to Forbes.