Bloomberg Billionaires Index

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# 286 Fan Hongwei $5.45B

Random fact: Fan's husband, Chen Jianhua, is also a billionaire.

Overview

Fan is the chairman and general manager of Hengli Petrochemical Co., the largest chemical fibers maker in China. The Dalian-based business reported revenue of 92.6 billion yuan ($9.1 billion) in 2018. The company produces a range of polyester chips and filaments for use in packaging, electronic and pharmaceutical industries.

As of :
Last change -$40.4M ( -0.7%)
YTD change -$1.47B ( -21.2%)
Industry Energy
Biggest asset 600346 CH Equity
Citizenship China
Age 53
Wealth Self-made
View net worth over:   Max 1 year 1 quarter 1 month 1 week

Relative Value

Fan Hongwei's net worth of $5.45B 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
0%
of the top 100 U.S. college endowments
0%
of the top 200 U.S. executives’ total awarded compensation
0%
of U.S. existing home sales
0
times the median U.S. household income

Latest News

Net Worth Summary

Cash
Private asset
Public asset
Misc. liabilities
Confidence rating:

Fan is the chairman and general manager of Hengli Petrochemical Co., the largest chemical fibers maker in China, according to the company's 2018 annual report.

Fan owns a 45% stake of Hengli Petrochemical, directly and through five other investment vehicles, according to the company's 2019 third-quarter report. About 15% of her stake is pledged, according to a company disclosure dated Oct. 28, 2019, and removed from the net worth calculation.

Fan also owns a 4% stake in Hengli Group, the holding company of publicly-traded Hengli Petrochemical. The group reported revenue of 93.3 billion yuan ($13.6 billion) in 2018, according to its annual report. The value of the stake is calculated based on the average price-to-earnings multiple of three publicly traded peers: Hengyi Petrochemical Co., Tongkun Group Co. and Hengli Petrochemical Co.

Gu, a spokeswoman for the company, declined to comment on the net worth calculation.

Biography

Birthdate: 2/1/1967
Family: Married, No children
Education: Nanjing Normal University

Born in 1967, Fan Hongwei worked as an accountant before she took a loan of 3 million yuan with her husband to acquire a bankrupted state-owned textile factory in Wujiang, Jiangsu province in China. Fan's husband, Chen Jianhua, had already been successful in business by trading silk.

Fan became the general manager of Wujiang chemical fibre textile factory, the predecessor of Hengli Group in May 1994, according to a biography in the company's 2018 annual report. Six years later, she became a director of Hengli Group.

Hengli Petrochemical, the main unit of Hengli Group, became publicly traded on the Shanghai stock exchange in November 2016 through a backdoor listing, according to a company filing.

Milestones
  • 1994 Fan's husband starts the chemical fibre business.
  • 2004 The group acquires property and tourism businesses.
  • 2015 Company has the world's largest purified terephthalic acid production line.
  • 2018 Opens for business in Singapore.