Ding is the chairman of Anta Sports Products, a manufacturer of sport shoes and athletic apparel. The Fujian-based business has more than 11,000 stores in mainland China and reported revenue of 35.5 billion yuan ($5.1 billion) in 2020. The group's collection of brands includes Anta, Fila, Amer Sports and Descente.
Ding Shizhong's net worth of $7.02B can buy ...
... and is equivalent to ...
The majority of Ding's wealth is derived from his 19% stake from Anta Sports Products, a Chinese sportswear maker. The Fujian based business reported a revenue of 35.5 billion yuan ($5.1 billion) in 2020 and more than 11,000 stores in mainland China, according to its 2020 annual report.
The group's brands include Anta, Fila and Amer Sports, according to the company's annual report. He own his shares through a family trust, according to a Dec. 20, 2021 Hong Kong stock exchange filing. The billionaire family donated 84.5 million shares to charity in December 2021 and this led to a $500 million decrease in the net worth calculation.
The value of his cash is based on an analysis of stock dividends, insider transactions, taxes and market performance.
A company representative declined to comment.
Born in 1970, Ding started trading sportswear in Beijing at the age of 17, according to a Sohu News report. In 1991, he co-founded Anta Sports with his father Ding Hemu and brother Ding Shijia in Fujian, China, according to the company's website.
Anta opened its first retail store in Beijing in 2001, according to the company's website. It began trading publicly in Hong Kong in 2007.
Anta acquired FILA's mainland, Hong Kong and Macau business in 2010. It later led a consortium that acquired Finland's Amer Sports for $5.2 billion in 2018.