Lin is the chairman of Eastroc Beverage Group, the second biggest energy drinks maker in China. The Shenzhen-based company reported revenue of about 7 billion yuan ($1.1 billion) in 2021 and has six manufacturing bases across the country. It was formerly a state-owned firm and after rapid growth became publicly traded in 2021.
Lin Muqin's net worth of $5.16B can buy ...
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Lin's wealth is derived from his 54% stake in Eastroc Beverage (Group) Co., a Chinese beverage maker and distributor. The Shenzhen-based business reported revenue of about 5 billion yuan ($719 million) in 2020 with six manufacturing bases in the country, according to the company website.
Lin owns the shares directly through four investment vehicles, according to the company's 2022 first-quarter report.
Cash holdings are valued based on an analysis of historical transactions, dividends, market performance and taxes.
Liu Lihua, a representative of the company, didn't respond to a request for comment on the valuation.
Born in 1964, Lin graduated from Sun Yat-san University in China with a masters degree in business administration. He started his career as a technician at a construction material company in Shenzhen before leaving about a decade later, according to a company filing.
He became a sales manager at a beverage company in 1988 before becoming a vice general manager of Eastroc Industrial, the predecessor of Eastroc Beverage, in 1997.
Eastroc Industrial was incorporated as a state-owned firm in 1994 and it was privatized in 2003 after Lin and other employees acquired shares in the company. Lin became chairman in October of that year and the company later changed its name to Eastroc Beverage.
Eastroc Beverage began trading publicly in Shanghai in May 2021.