Bloomberg Billionaires Index

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# 139 Luo Liguo $12.8B

Random fact: It built China's largest silicon rubber plant in 2011.

Overview

Luo is the founder and chairman of Hoshine Silicon Industry, a Chinese manufacturer of silicon products. The Zhejiang-based company produces about 800,000 tons of industrial silicon annually. Hoshine Silicon Industry also has an energy division and reported revenue of 21.3 billion yuan ($3.3 billion) in 2021.

As of :
Last change +$953M ( +8.0%)
YTD change +$350M ( +2.8%)
Biggest asset 603260 CH Equity
Country / Region China
Age 66
Industry Industrial
View net worth over:   Max 1 year 1 quarter 1 month 1 week

Relative Value

Luo Liguo's net worth of $12.8B 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:

Luo's fortune is derived from his stake in Hoshine Silicon Industry. The Zhejiang-based company produces about 800,000 tons of industrial silicon annually, according to the company's website.

Luo owns about 76% of Hoshine Silicon through holding company Hoshine Group and his children, according to a June 2, 2022 filing. About one-quarter of his shares are pledged, according to the June 2022 filing, and are excluded from the net worth calculation.

The cash calculation is based on dividends, insider transaction, taxes and market performance.

Gong Liping, a company spokesperson, didn't respond to a request for comment on Luo's wealth.

Biography

Birthdate: 3/1/1956
Family: Married, 2 children

Luo was born in Zhejiang, China in March 1956 and started his career as a supervisor at a state-owned factory in 1979 and later promoted to department head by 1989. He held various roles at different companies between 1989 and 2001, including a real estate group.

He founded Hoshine Group in 1989 and started the silicon business in 2005, according to company's website. It started trading publicly trading on the Shanghai Stock Exchange in 2017.

He has a daughter and son, who have served as vice chairman and assistant to Hoshine Silicon's chairman, respectively.

Milestones
  • 1989 Hoshine Group was founded.
  • 2005 Hoshine started silicon business.
  • 2013 Set up a research and development center.
  • 2017 Hoshine started trading in Shanghai.