Bloomberg Billionaires Index

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# 327 Yao Liangsong $6.49B

Random fact: Founded a literature magazine when he was a school teacher.

Overview

Yao is the founder and largest shareholder of Oppein Home Group, the biggest cabinet maker in Asia. The Guangzhou-based company exports products to 128 countries around the world. It reported revenue of 11.4 billion yuan ($1.7 billion) in 2018 with 6,000 global showrooms and almost 20,000 employees.

As of :
Last change +$132M ( +2.1%)
YTD change +$1.87B ( +40.5%)
Industry Retail
Biggest asset 603833 CH Equity
Citizenship China
Age 56
Wealth Self-made
View net worth over:   Max 1 year 1 quarter 1 month 1 week

Relative Value

Yao Liangsong's net worth of $6.49B 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
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of the top 200 U.S. executives’ total awarded compensation
0%
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:

Yao’s net worth is derived from a 69% stake in Oppein Home Group. The Guangzhou-based company is the largest cabinetry manufacturer in Asia and exports products to 128 countries around the world, according to its website. It has almost 20,000 employees, according to the company's 2018 annual report.

Oppein began trading on the Shanghai Stock Exchange in March 2017 and had revenue of 11.4 billion yuan ($1.7 billion) in 2018. He owns his shares directly, according the company's 2019 third-quarter report. About 5% of his shares are pledged and removed from the net worth summary.

Yao also owns about 1.8 million convertible bonds, according to a company disclosure dated Nov. 4, 2019. The asset is valued based on Oppein Home Group's share price in December 2019.

Yang Yaoxing, a spokesperson for the company, declined to comment on the billionaire's wealth.

Biography

Birthdate: 8/1/1964
Family: Married, No children
Education: Beihang University

Yao Liangsong was born in Meizhou, China in August 1964. He graduated from the Beihang University with a degree of machine engineering and was assigned his first job as a teacher at an aviation school in Jiangxi in 1986, where he set up a school magazine called Grassland for the students, according to a television interview on Shenzhen-based CETV in 2009.

Yao left teaching and started his own restaurant business two years later, which failed and left him in debt, which he helped pay off by selling medical equipment. Yao's sister inspired him to establish Oppein Home Group in Guangzhou in 1994, according to Oppein's website on April 2017. The company began trading on the Shanghai Stock Exchange in March 2017 with Yao serving as chairman of the group. 

The billionaire maintains positions in the People's Political Consultative Committee of Guangzhou Baiyun District and the General Chamber of Commerce, according to the company's initial public offering prospectus in March 2017.

Milestones
  • 1964 Born in Guangdong, China.
  • 1994 Oppein is founded in Guangzhou, China.
  • 1999 Opens a 15,000 square meter plant to build artificial stone surfaces.
  • 2003 Establishes its first overseas office in the USA.
  • 2006 Increases sales reach to almost 120 countries.
  • 2011 Becomes the largest cabinetry manufacturer in Asia.
  • 2015 Launches a second brand "Oppolia" for the youth market.
  • 2017 Oppein started to trade in the Shanghai Stock Exchange.