Bloomberg Billionaires Index

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

# 163 Fan Hongwei $11.3B

Random fact: The group's PTA production line has been called the world's largest.

Overview

Fan is the chairman and general manager of Hengli Petrochemical Co., the largest chemical fibers maker in China. The Dalian-based business had revenue of 198 billion yuan ($30.7 billion) in 2021. The company produces a range of polyester chips and filaments for use in packaging, electronic and pharmaceutical industries.

As of :
Last change -$33.1M ( -0.3%)
YTD change -$1.71B ( -13.2%)
Biggest asset 600346 CH Equity
Country / Region China
Age 55
Industry Energy
View net worth over:   Max 1 year 1 quarter 1 month 1 week

Relative Value

Fan Hongwei's net worth of $11.3B 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., a maker of polyester chips and filament.

She owns a 45% stake directly and through five holding companies, according to the company's 2022 first-quarter report and disclosures in May and June of the same year.

Fan also owns a 4.2% stake in Hengli Group, the holding company of publicly traded Hengli Petrochemical. The group reported revenue of 178 billion yuan ($27 billion) in 2020, according to its annual report. The value of the stake is calculated based on the average price-to-earnings multiple of publicly traded peers Hengyi Petrochemical Co. and Tongkun Group 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.