Bloomberg Billionaires Index

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# 403 Frank Wang $5.01B

Random fact: A DJI drone was found on the White House's south lawn.

Overview

Wang is the founder and largest shareholder of SZ DJI Technology, the world's largest manufacturer of recreational drones. The Shenzhen, China-based company has more than 6,000 employees and offices in five countries including the U.S. and Germany. It had revenue of 18 billion yuan ($2.7 billion) in 2017.

As of :
Last change -$15.8M ( -0.3%)
YTD change -$768M ( -13.3%)
Industry Technology
Biggest asset SZ DJI Technology Co Ltd
Citizenship China
Age 39
Wealth Self-made
View net worth over:   Max 1 year 1 quarter 1 month 1 week

Relative Value

Frank Wang's net worth of $5.01B 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 Wang's wealth is derived from closely held SZ DJI Technology, the world's largest maker of recreational drones. The company reported revenue of 18 billion yuan ($2.7 billion) in 2017. 

It's valued based on the average price-to-sales, enterprise-value-to-sales and price-to-earnings multiples of three publicly traded peer companies: Aerovironment, GoPro and Parrot.

A 2014 filing with the Hong Kong Companies Registry disclosed his stake at 51 percent, and this analysis assumes his ownership was diluted to 49 percent in line with the valuation implied by the company's financing. A later filing showed he moved his ownership to a British Virgin Islands-based DJI Company, which doesn't release ownership details.

Kevin On, a spokesperson for the company, declined to comment on Wang's net worth.

Biography

Birthdate: 1/1/1980
Family: Unknown, No children

Wang was born in 1980 to a teacher's family in Hangzhou, Jiangsu province. His passion for flight began in elementary school when he started reading books about aerospace and airplanes. He dropped out of East China Normal University in his junior year because he thought the university was too focused on social science instead of technology. He then applied to the Hong Kong University of Science and Technology and studied electronic engineering there.

He built the first unmanned aerial vehicle in his dorm room in 2006 and started his company in the Chinese city of Shenzhen in the same year. During the first few years of operation the business survived by using capital from Wang's friends Lu Di and Xie Jia, who now control 16 percent and 14 percent of the company respectively.

DJI has made Wang the first billionaire to emerge from the drones industry.

Milestones
  • 1980 Wang Tao is born in Hangzhou, China.
  • 2002 Drops out of East China Normal University.
  • 2003 Studies computer science at Hong Kong University of Science and Technology.
  • 2006 Starts DJI Technology in Shenzhen.
  • 2010 His alma mater invests HK$200 million in DJI.
  • 2014 Sequoia Capital invests $30 million in DJI.
  • 2014 DJI releases its best-selling drone "Phantom."
  • 2015 Raises $75 million from Accel Partners.