Bloomberg Billionaires Index

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# 269 Cao Renxian $7.92B

Random fact: Sungrow joined the Shenzhen stock exchange in 2011.

Overview

Cao is the chairman of Sungrow Power Supply, a solar inverter company with almost one-third of the global market. The Hefei, Anhui-based company makes inverters as well as batteries and energy storage systems. It built the world's largest inverter factory and had revenue of 24.1 billion yuan ($3.7 billion) in 2021.

As of :
Last change +$221M ( +2.9%)
YTD change -$2.53B ( -24.2%)
Biggest asset 300274 CH Equity
Country / Region China
Age 54
Industry Technology
View net worth over:   Max 1 year 1 quarter 1 month 1 week

Relative Value

Cao Renxian's net worth of $7.92B 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:

The majority of Renxian's fortune is derived from his stake in Sungrow Power Supply, a solar inverter manufacturer. The Hefei, China-based company built the world's largest inverter factory in 2019, according to the company website. It increased its global market share for PV inverters to 30% in 2021, according to an April 2022 report.

He owns 31% of the company directly as well as through his wife Su Lei and a holding company, according to a May 19, 2022 company filing. About 3% of his shares are pledged and removed from the calculation.

The value of his cash holdings is based on an analysis of stock dividends, insider transactions, taxes and market performance.

A spokesperson for the company didn't respond to a request for comment on the calculation.

Biography

Birthdate: 7/1/1968
Family: Unknown, No children

Cao Renxian was born in July 1968. He became a professor at Hefei University of Technology in 1993 and taught at the school for about five years.

Upon learning of the poor availability of electricity in rural western China, he decided to set up Sungrow Power Supply Co. in 1997. His first customer was an engineer from the southern Xinjiang Railway, to whom he sold a solar power supply system for railway signalling equipment.

He expanded the company internationally in 2006 and it joined the Shenzhen stock exchange in 2011. By 2019, Sungrow had built the world's largest solar inverter factory.

Milestones
  • 1993 Becomes a teacher at Hefei University of Technology.
  • 1998 Southern Xinjiang railway becomes Renxian's first client.
  • 2015 Sungrow attains the largest global market share for solar inverters.
  • 2018 Sungrow opens a factory in Bangalore, India, its first outside China.