Bloomberg Billionaires Index

View profiles for each of the world’s 500 richest people, see the biggest movers, and compare fortunes or track returns.

# 48 Wang Chuan-Fu $25.4B

Random fact: His long-held goal is to sell cars to U.S consumers.

Overview

Wang is the founder and largest shareholder of BYD, a Chinese maker of electric cars. The Shenzhen-based company employs about 288,000 people and had revenue of 211 billion yuan ($32.8 billion) in 2021. Aside from cars and buses, it also makes rechargeable and nickel-cadmium batteries for use in mobile phones.

As of :
Last change -$202M ( -0.8%)
YTD change +$2.78B ( +12.3%)
Biggest asset 002594 CH Equity
Country / Region China
Age 56
Industry Consumer
View net worth over:   Max 1 year 1 quarter 1 month 1 week

Relative Value

Wang Chuan-Fu's net worth of $25.4B can buy ...

0
troy ounces of gold
0
barrels of crude oil

... and is equivalent to ...

0%
of the GDP of the United States
0%
of the total wealth of the 500 richest people in the world
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of the top 100 U.S. college endowments
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of the top 200 U.S. executives’ total awarded compensation
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of U.S. existing home sales
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times the median U.S. household income

Latest News

Net Worth Summary

Cash
Private asset
Public asset
Misc. liabilities
Confidence rating:

The majority of Wang's fortune is derived from a 19% stake in BYD, a car maker that trades publicly in Shanghai and Hong Kong. He holds the shares directly and through an asset management plan and the company employs about 288,000 people, according to the company's 2021 annual report.

The value of his cash investments is based on an analysis of these proceeds, as well as taxes and market performance.

According to a Hong Kong stock exchange filing dated June 18, 2015, Wang sold 25.7 million BYD shares and loaned the proceeds to employees to facilitate their share purchases. The amount he loaned to his workers is included as an asset in the net worth analysis.

Mia Gu, a spokeswoman at BYD, said the billionaire declined to comment on his net worth.

Biography

Birthdate: 4/8/1966
Family: Married, 1 child
Education: Central South University of Technology, Beijing Non-Ferrous Research Institute

Wang Chuan-Fu was born into a farming family in China's Anhui province in 1966. He graduated from Central South Industrial University, now known as Central South University, with a bachelor's degree in metallurgical physical chemistry in 1987. He received a master's degree in materials from the Beijing General Research Institute of Nonferrous Metals, where he worked as a deputy director, according to his profile at the Boao Forum.

He worked as the general manager of Bige Battery for a year and a half before using about $400,000 that he borrowed from his cousin to found BYD as a battery maker with 20 employees in 1995. The company was making lithium-ion batteries for handsets by 1997, and later expanded to cars, joining billionaire Li Shufu's Geely Automobile Holdings as one of country's first non-state owned electric carmakers.

BYD began trading on the Hong Kong stock exchange in 2002. It attracted the attention of billionaire investor Warren Buffett, who purchased 225 million shares for HK$8 (about $1) each through a unit of Berkshire Hathaway six years later. The company has benefited from some of the Chinese government's air pollution policies, including mandates that electric cars make up a certain amount of state vehicle purchases.

Milestones
  • 1966 Born into a farmer's family in China's rural Anhui province.
  • 1995 Starts BYD as a battery manufacturer with 20 employees.
  • 1997 Begins making lithium-ion batteries for consumer products.
  • 2002 BYD starts trading on the Hong Kong Stock Exchange.
  • 2008 Begins selling the world's first production plug-in hybrid.
  • 2010 Sets up BYD's North American headquarters in Los Angeles.
  • 2014 Announces solar collaboration with India's Hindustan Clean Energy.
  • 2015 Uber signs deal to test BYD's electric cars
  • 2016 In talks with several Chinese cities to build monorail systems.