Li is the founder and chairman of Li Auto, a manufacturer of hybrid cars. The Beijing-based car maker produces sports utility vehicles including the Li One model that allows drivers to charge their car's battery with electricity or gas. Li Auto reported revenue of 27 billion yuan ($4.2 billion) in 2021.
Li Xiang's net worth of $5.66B can buy ...
... and is equivalent to ...
The majority of Li Xiang's fortune is derived from his stake in Li Auto, a maker of hybrid cars.
He owns about 21% of the company through investment vehicle Amp Lee, according to the company's 2021 annual report report.
A liability is included based on an analysis of capital raises, insider transactions, taxes and market performance.
A spokesperson for the company didn't respond to a request for comment on the net worth calculation.
Xiang Li was born in 1981.
After electing to skip college and explore entrepreneurial opportunities, he started the website Pcpop.com in 2000. Five years later he started another web-based business, AutoHome, which would become publicly traded in New York in 2013.
He left AutoHome in 2015 and began attracting investment for an electric car venture called CHJ Automotive.
Li Auto, as it became known, held an initial public offering in New York in 2020.