Wang is the founder and chairman of Jiangsu Hengli Hydraulic, a Chinese manufacturer of hydraulic components. The Changzhou-based company's main products include pumps and cylinders for use in excavators and other heavy equipment. Hengli reported revenue of 9.3 billion yuan ($1.4 billion) in 2021.
Wang Liping's net worth of $9.15B can buy ...
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Wang's wealth is derived from his stake in Jiangsu Hengli Hydraulics, a Chinese hydraulic components and systems manufacturing company.
Wang owns about 67.4% of Hengli Hydraulics through holding companies, according to the company's 2022 third-quarter report. This includes shares held by his son and wife that are credited to Wang in the calculation to reflect his status as chairman.
The value of his cash investments is based on an analysis of dividends, insider transactions, taxes and market performance.
A representative of the company didn't respond to Bloomberg's request for comments.
Wang was born in Jiangsu, China in 1966.
He began working as a technician at a local pneumatic factory after finishing high school and founded Hengli in 1990, according to the company's website.
The company began producing tunnel machinery in 2006 and had SANY, XCMG Construction as clients. It started publicly-trading in Shanghai in 2011.
As of 2021, it had eight manufacturing bases across China, four R&D centers worldwide and sold products to more than 20 countries and regions.