Bloomberg Billionaires Index

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# 96 Sun Piaoyang $14.3B

Random fact: Graduated as top student from China Pharmaceutical University.

Overview

Sun is chairman of Jiangsu Hengrui Medicine, China's largest producer of anti-cancer drugs. He began leading the former state-owned drugmaker in 1990 and became its largest shareholder in 2006. The company produces anti-tumor, painkiller and anti-infective drugs, and had revenue of 17.2 billion yuan ($2.6 billion) in 2018.

As of :
Last change -$112M ( -0.8%)
YTD change +$8.24B ( +135.4%)
Industry Health Care
Biggest asset 600276 CH Equity
Citizenship China
Age 61
Wealth Self-made
View net worth over:   Max 1 year 1 quarter 1 month 1 week

Relative Value

Sun Piaoyang's net worth of $14.3B can buy ...

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troy ounces of gold
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barrels of crude oil

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of the GDP of the United States
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of the total wealth of the 500 richest people in the world
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of the top 100 U.S. college endowments
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of the top 200 U.S. executives’ total awarded compensation
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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:

Sun's wealth is derived from his 24% stake in Jiangsu Hengrui Medicine, China's largest manufacturer of anti-neoplastics (anti-cancer medicines). 

He owns his stake through holding company Jiangsu Hengrui Medicine. Sun controls 99.3% of the holding company, according to the China AIC website. The holding company isn't valued separately because it doesn't disclose financial results. The fortune is calculated using the value of the publicly traded stakes.

The stake used in this analysis was increased from 22% to 24% on June 4, 2019 following an analysis of ownership information on China's AIC website. This led to an increase in the net worth calculation of about $800 million.

Chen Wei, a media representative for the company, declined to comment on the billionaire's net worth.

Biography

Birthdate: 9/1/1958
Family: Married, 1 child
Education: China Pharmaceutical University

Sun was born in China's Jiangsu province, in 1958. He was a top student at China Pharmaceutical University in Nanjing, according to an Oct. 9, 2015 Week in China report, and earned his degree in 1982.

After graduation, Sun was assigned to work at a government-run pharmaceutical factory in Lianyungang, which was later reorganized as Jiangsu Hengrui Medicine. At the time, annual profitability was $13,500, according to Week in China.

The company was privatized in 1990, and Sun took the helm. He brought the company public in Shanghai in 2000, and led a buyout of a leading manufacturer of anti-tumor medicines in 2003. He became chairman of the board of Jiangsu Hengrui Medicine Co. the same year. The company produces anti-tumor medicines, painkillers, anti-infection medicines and aluminum foil, and had sales of $1.5 billion in 2015.

Sun has spearheaded attempts to enter the U.S. market. The U.S. Food and Drug Administration approved an antineoplastic injection produced by the company in 2011, making it the first Chinese pharmaceutical manufacturer to receive injection approval from the FDA, according to Xinhua News Agency. Sun announced a $100 million investment in New Jersey-based biotech startup Hengrui Therapeutics in June 2016.

The billionaire lives in Lianyungang with his wife, who also controls privately held Jiangsu Hansoh -- the second largest pharmaceutical company in the city, according to Week in China.

Milestones
  • 1958 Sun is born in Lianyungang, China.
  • 1982 Graduates from China Pharmaceutical University.
  • 1990 Starts to lead Jiangsu Hengrui Medicine.
  • 2000 The company goes public in Shanghai.
  • 2003 Becomes chairman of the board.
  • 2006 Buys out the company and becomes the controlling shareholder.
  • 2011 U.S. approves Jiangsu Hengrui's antineoplastic injection.
  • 2016 Invests $100 million in New Jersey-based Hengrui Therapeutics Inc.