Bloomberg Billionaires Index

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

# 156 Sun Hongbin $9.83B

Random fact: Helped ease LeEco's cash crunch with $2.2 billion investment.

Overview

Sun is the founder and chairman of Sunac China Holdings, a real estate developer with more than 90 projects across China. The Tianjin-based business trades publicly on the Hong Kong stock exchange, employs more than 13,000 people and reported revenue of 125 billion yuan ($18.9 billion) in 2018. Sun is a U.S. citizen.

As of :
Last change -$347M ( -3.4%)
YTD change +$3.19B ( +48.1%)
Industry Real Estate
Biggest asset 1918 HK Equity
Citizenship United States
Age 56
Wealth Self-made
View net worth over:   Max 1 year 1 quarter 1 month 1 week

Relative Value

Sun Hongbin's net worth of $9.83B can buy ...

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troy ounces of gold
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barrels of crude oil

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of the GDP of the United States
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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:

Sun's wealth is derived from a 47 percent stake in Sunac China Holdings. He owns the shares directly and through British Virgin Islands-based Sunac International Investments Holdings, according to a filing to the Hong Kong Stock Exchange dated April 16, 2019. The Tianjin, China-based company has more than 240 property projects across the country, according to its website.

He's credited with a liability based on an analysis of insider transactions, dividends, taxes and market performance.

Wang Yaqi, Sunac's spokeswoman, declined to comment on the billionaire's net worth.

Biography

Birthdate: 1/1/1963
Family: Married, 2 children
Education: Harvard Business School, Tsinghua University

Sun was born in China's Shanxi province in 1963. He studied mathematics in college and graduated with a master's in engineering from Tsinghua University in 1985. 

He later joined the Lenovo Group, China's largest personal computer company, where he was seen as a potential successor to its founder, Liu Chuanzhi. Sun was found guilty of embezzlement in 1990 and sentenced to five years imprisonment. He was released in March 1994, appealed his conviction and was found innocent by a judicial review in 2003, according to Sunac's prospectus.

Sun set up his first real estate business, Sunco, in 1994 using a half a million yuan loan from Liu. The company failed and Sun sold it to Road King Infrastructure in 2006. He started Sunac China Holding in 2003, and listed the business in Hong Kong in 2010.

Sunac said in January 2017 that it would invest $2.2 billion on three companies affiliated with Jia Yueting’s LeEco, the holding group for a range of technology companies that market products from electric cars to smart TVs. Sun said in a briefing in Beijing that he’s looking at other opportunities to propel growth beyond the next five to 10 years. Sun became chairman of Leshi Internet, the public subsidiary of LeEco in July 2017.

Sun's U.S. citizenship is confirmed in a Leshi filing dated July 21, 2017.

Milestones
  • 1963 Sun Hongbin is born in China's Shanxi province.
  • 1985 Earns engineering degree from Tsinghua University.
  • 1990 Sentenced for embezzling funds from Lenovo; later found innocent.
  • 1994 Establishes first real estate business, Sunco.
  • 2003 Forms Sunac and focuses on luxury housing projects.
  • 2006 Sells 55 percent of Sunco for 1.28 billion yuan ($160 million).
  • 2009 Bain Capital and Deutsche Bank acquire Lehman Brothers' shares in Sunac.
  • 2010 Holds initial public offering in Hong Kong.
  • 2016 Revenue reaches 35.3 billion yuan ($5.3 billion).
  • 2017 Joins with Guangzhou R&F to buy Wanda's assets for combined $9.4 billion.