Bloomberg Billionaires Index

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# 251 Zhang Jindong $7.14B

Random fact: Suning bought Italian soccer club Inter Milan in 2016.


Zhang is founder and chairman of Suning Commerce Group, an electronics retailer in China. The Nanjing-based company has more than 10 million household products available for sale through its e-commerce platform and network of 11,000 stores in China. The retailer has also diversified into real estate development.

As of :
Last change -$81.0M ( -1.1%)
YTD change -$299M ( -4.0%)
Industry Retail
Biggest asset 002024 CH Equity
Citizenship China
Age 56
Wealth Self-made
View net worth over:   Max 1 year 1 quarter 1 month 1 week

Relative Value

Zhang Jindong's net worth of $7.14B can buy ...

troy ounces of gold
barrels of crude oil

... and is equivalent to ...

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

Latest News

Net Worth Summary

Private asset
Public asset
Misc. liabilities
Confidence rating:

The majority of Zhang's net worth is derived from a 35% stake in Suning Commerce Group, an electrical appliance retailer in China with a sales network of 11,000 online and offline stores, according to the company's website. 

Zhang holds the shares directly and through two closely held companies: Suning Electric and Suning Holdings, according to the company's 2019 third-quarter report. The holding companies don't disclose financial results and can't be valued so the fortune is calculated using the value of the publicly traded stakes.

Zhang owns 65% in Suning Real Estate. The closely-held company's valuation is based on average four multiples: price-to-book value, enterprise-value-to-sales, enterprise-value-to-EBITA and PE ratio of four publicly traded peers: China Vanke, Gemdale and Poly Real Estate and Longfor Properties.

He also paid $450 million to acquire stakes in two football clubs.

Zhang owns a 23.5% stake through private vehicles in Suning Financials, a unit valued at 56 billion yuan, according to a company disclosure dated Sept. 27, 2019. He also own a stake in Suning Sports, which is reported valued at $2.6 billion in a July 2018 report. The value of this stake is based on a Bloomberg analysis on the company's funding round.

Zhang's valuation was updated on Dec. 18, 2019 and this led to a $2.3 billion increase in his net worth, mainly due to the inclusion of stakes in Suning Financials and Suning Sports.

A liability is included to reflect an analysis of purchases, dividends, taxes and market performance.

Michelle Ge, a spokesperson for Suning, declined to comment on his net worth.


Birthdate: 3/1/1963
Family: Married, 1 child
Education: Nanjing Normal University

Zhang Jindong was born in a small town in eastern China's Anhui province in 1963. When he turned 18, he competed against other high school students academically and managed to enter Nanjing Normal University, where he majored in Chinese literature. At the time, university students were respected in China to the point of being called, "God's favored ones." The expression was intended to convey how fortunate the students were.

After spending five years at an industrial company, Zhang rented a 2,215-square-foot shop in central Nanjing and named it "Suning." He sold air conditioners in the 1990s, which at the time was considered a luxury item, Zhang said.

Sales boomed at Suning, partly because other well-established retailers were busy selling television sets and refrigerators. Zhang opened his first store outside Nanjing in 1996, and expanded the product line to include consumer electronics two years later. Suning stores occupied every major city in China by 2002. Zhang sold Suning shares on the Shenzhen Stock Exchange in 2004 to fund its further expansion.

The billionaire has recently focused on real estate, internet retailing and expanding beyond China. Suning acquired Japanese retail operator Laox in 2009. It took over Hong Kong-based electronics retailer Citicall Appliance in the same year. Its e-commerce business began in 2010. Zhang said in 2011 that his goals for Suning include doubling the number of stores to 3,500 by 2020, and for its revenue to climb sixfold to $56 billion in the same period.

  • 1984 Graduates from Nanjing Normal University; major in Chinese literature.
  • 1990 Opens first Suning store selling air conditioners in Nanjing.
  • 1996 Establishes first shop outside Nanjing in Yangzhou.
  • 2004 Sells Suning shares on the Shenzhen stock exchange.
  • 2009 Company takes over Japanese retail chain Laox.
  • 2012 Changes name from Suning Appliance to Suning Commerce Group.
  • 2015 Alibaba buys a stake in Suning for $4.6 billion.
  • 2016 Buys 70 percent of Italian soccer club Inter Milan