Ruan is the chairman of Gongniu Group, a maker of electrical sockets and switches in China. The Cixi, Zhejiang-based company reported revenue of 10 billion yuan ($1.5 billion) in 2020 and has sales outlets in more than 300 cities across the country. It began trading publicly on the Shanghai stock exchange in February 2020.
Ruan Liping's net worth of $6.11B can buy ...
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The majority of Ruan's fortune is derived from his 43% stake in Gongniu Group, an electrical appliance maker in China. The Cixi, Zhejiang-based company reported revenue of 10 billion yuan ($1.5 billion) in 2020. It has sales outlets in more than 300 cities across the country, according to the company's website.
Ruan owns his stake directly and through investment vehicle Ningbo Liangji Industry, which he co-owns with his younger brother Ruan Xueping, according to the company's 2021 third-quarter report.
Cash investments are valued based on an analysis of dividends, insider transactions, taxes and market performance.
Liu Shengsong, a spokesman for the company, declined to comment on the net worth calculation.
Ruan was born in 1963. He graduated from the Wuhan University of Hydraulic and Electrical Engineering in the 1980s. He started his career as an electrical engineer in a state-owned institution but later quit his job to start his own business producing sockets. This business became Gongniu Group in 1995.
Ruan likes to play basketball and he named his business Gongniu, which also translates to "bull", after the National Basketball Association team the Chicago Bulls, according to a local media interview with Ruan in 2017.
By the end of 2019, the company had annual sales of 10 billion yuan ($1.5 billion) and sales outlets in more than 300 cities across China.