Bloomberg Billionaires Index

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# 160 Wang Wei $9.62B

Random fact: Used WeChat to defend S.F. courier beaten by a fellow motorist.

Overview

Wang is the founder of S.F. Holding, the owner of China's largest parcel delivery company. S.F. Express has about 30,000 vehicles and more than 12,500 service outlets across the world. The company started trading publicly in Shenzhen in February 2017 and had revenue of 90.7 billion yuan ($13.7 billion) in 2018.

As of :
Last change -$220M ( -2.2%)
YTD change -$708M ( -6.9%)
Industry Services
Biggest asset 002352 CH Equity
Citizenship China
Age 49
Wealth Self-made
View net worth over:   Max 1 year 1 quarter 1 month 1 week

Relative Value

Wang Wei's net worth of $9.62B 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
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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:

The majority of Wang's fortune is derived from a 61 percent stake in S.F. Holding, the Shenzhen-based owner of S.F. Express, China's largest parcel delivery company, according to the company's first quarter report for 2019. It has about 35,000 vehicles and 15,600 service outlets across the world, according to the company's 2018 annual report.

Wang owns the shares through his 99.9 percent stake in Shenzhen Mingde Holdings Development. S.F. went public on the Shenzhen Stock Exchange through a reverse merger with Maanshan Dingtai Rare Earth & New Material in January 2017. About 37 percent of Wang's shares are pledged and excluded from his net worth. A change in the pledged share count led to a $2 billion decrease in calculation on July 10, 2019.

He also owns residential real estate in Hong Kong that's valued using the price per square foot of similar properties, according to data compiled by property broker Savills. He bought the asset in 2010, according to the South China Morning Post. A liability is applied to reflect the purchase.

The value of his liability reflects insider transactions, taxes, market performance and charitable giving.

Gan Ling, a spokeswoman for S.F. Express, declined to comment on the billionaire's net worth.

Biography

Birthdate: 10/1/1970
Family: Married, No children

Wang Wei was born in Shanghai in 1970. The son of an interpreter for the Chinese air force, he moved to Hong Kong as a child, according to a March 2013 brief by HSBC. He founded parcel delivery company S.F. Express in the Chinese port city of Shunde in 1993, using money borrowed from his father.

The company started by offering a one-day delivery service between Hong Kong and neighboring Shenzhen. Due to rising demand for cross-border shipments, Wang was able to expand his business to the rest of southern China. The company added cargo aircraft to its fleet of delivery vehicles as it began to increase its long-distance services. With more than 16,000 vehicles and 30 aircraft, S.F. Express delivers parcels in 14 countries, including the U.S., Australia and Russia.

Wang largely had kept a low-profile, declining all media interviews until 2011. He finally brought in outside investors in August 2013, when he sold a quarter stake in his closely held company to a consortium of Chinese state-backed companies.

Milestones
  • 1970 Born in Shanghai.
  • 1993 Sets up S.F. Express in Shunde, a port in southern China.
  • 2008 Establishes S.F. Holding Group as the parent company.
  • 2010 Buys a home in Hong Kong for $45 million.
  • 2012 Starts express delivery service to the U.S.
  • 2013 Develops drones to deliver packages to remote locations.
  • 2013 Sells a quarter stake in S.F. Express to a state-backed consortium.
  • 2014 Expands delivery network to Australia.