Ruan is a co-founder and chairman of Flat Glass Group, the producer of one-fifth of the world's solar glass. The Jiaxing, China-based company also manufactures standard glass and reported revenue of 8.7 billion yuan ($1.4 billion) in 2021. The company went public in Hong Kong in 2015 and in Shanghai in 2019.
Ruan Hongliang's net worth of $5.24B can buy ...
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The majority of Ruan's fortune is derived from his stake in Flat Glass Group. The Jiaxing, Zhejiang-based business makes about one-fifth of all solar glass, according to its 2021 annual report.
Ruan owns 66% of the company's Shanghai-traded A shares directly and with his wife and daughter, according to the 2022 third-quarter report. Ruan is credited with all of the stake to reflect his status as co-founder and chairman. About 2% of his stake is pledged and removed from the calculation.
He also owns less than 1% of the company's Hong Kong-traded H shares, according to the same 2022 third-quarter report.
A spokesperson for the company didn't respond to a request for comment on the net worth calculation.
Ruan was born in Jiaxing, a city in the Zhejiang province.
He started his career as a director in a glass factory in Jiaxing at the age of 23. He co-founded Jiaxing Naibang Trading Company, the predecessor of Flat Glass Group, in 1998.
The company started as a producer of construction materials and traditional glass products. In 2006, Flat Glass Group became the first Chinese company to produce solar photovoltaic glass, according to its 2019 prospectus.
The company began trading on the Hong Kong stock exchange in 2015 and on the Shanghai stock exchange in 2019.