Bloomberg Billionaires Index

View profiles for each of the world’s 500 richest people, see the biggest movers, and compare fortunes or track returns.

# 103 Lv Xiang-yang $16.1B

Random fact: Berkshire Hathaway bought a 10% stake in BYD in 2008.

Overview

Lv is a director of BYD, a Chinese maker of electric cars. The Shenzhen-based company received backing from Warren Buffett's Berkshire Hathaway and reported revenue of 211 billion yuan ($32.8 billion) in 2021. Aside from cars and buses, it also makes rechargeable and nickel-cadmium batteries for use in mobile phones.

As of :
Last change -$156M ( -1.0%)
YTD change +$2.02B ( +14.4%)
Biggest asset 002594 CH Equity
Country / Region China
Age 59
Industry Consumer
View net worth over:   Max 1 year 1 quarter 1 month 1 week

Relative Value

Lv Xiang-yang's net worth of $16.1B 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 Lv's fortune is derived from his 22% stake in BYD, a publicly traded maker of batteries and automobiles in Shenzhen.

Lv owns the stake directly and through Youngy Investment, according to a May 27, 2022 company filing. About one-fifth of his stake is pledged and removed from the net worth calculation.

He also holds a 25% stake in Youngy Co. and a 15% stake in Youngy Health, according to company filings.

The billionaire's cash and other investments are based on an analysis of dividends, insider transactions, taxes and market performance.

Mia Gu, a spokeswoman for the company, declined to comment on the calculation.

Biography

Birthdate: 12/1/1962
Family: Married, No children

Born in 1962 in Anhui, central China, Lv is the elder cousin of Wang Chuan-fu, chairman of BYD. Lv started his career working in a China Central Bank unit in Anhui and later co-founded BYD with Wang in February 1995, according to the company's 2020 annual report.

The company was making lithium-ion batteries for handsets by 1997, and later expanded to cars, joining billionaire Li Shufu's Geely Automobile Holdings as one of country's first non-state owned electric carmakers.

BYD began trading on the Hong Kong stock exchange in 2002. It attracted the attention of billionaire investor Warren Buffett who bought a stake through a unit of Berkshire Hathaway in 2008.

The company has benefited from some of the Chinese government's air pollution policies, including mandates that electric cars make up a certain amount of state vehicle purchases.

Milestones
  • 1995 BYD was founded with 2.5 million yuan and 20 employees.
  • 1998 Founded the first overses unit in Europe.
  • 2002 Started publicly trading in Hong Kong.
  • 2011 Started trading in A shares in Shenzhen.