Wang is a co-founder and chairman of Meituan, the world’s largest on-demand food delivery company. The Beijing-based business had revenue of 179 billion yuan ($27.8 billion) and provided food, lifestyle and travel services to more than 628 million customers as of June 30, 2021. It began trading publicly in Hong Kong in 2018.
Wang Xing's net worth of $13.7B can buy ...
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Wang's fortune is derived from his 9.5% stake in Meituan, a Chinese online services company. Meituan is the world's largest on-demand food delivery service platform with more than 628 million customers, according to its 2021 semi-annual report.
He owns the shares through holding companies Crown Holdings and Shared Patience, according to a Dec. 10, 2021 Hong Kong stock exchange filing.
Wang transferred about 57 million shares to WangXing Foundation, an irrevocable philanthropic group founded by the billionaire, according to the June 2021 filing. The foundation's stake was removed from the net worth calculation on June 4, 2021 and this led to a decrease of $2.3 billion.
Edmond Lococo, an external spokesperson for the company, declined to comment on the billionaire's net worth.
Wang Xing was born in 1979. His father was a Fujian-based businessman and he has an older sister. Like his sister, he studied at Tsinghua University and in 2001 received a bachelors degree in electronic engineering. Wang later enrolled at the University of Delaware and got his masters degree in computer engineering in 2005, according to Meituan's IPO prospectus.
Upon graduation, he started a social network website called Xiaonei.com for college students in China. He sold the business the next year and started fanfou.com, another social media platform. Wang co-founded Meituan.com in 2010 with Mu Rongjun. The business provides on-demand food delivery services as well as dining information, hotel booking and movie-ticketing. It merged with Dianping Holdings in 2015. The new company became known as Meituan Dianping and in October 2020 changed its name to Meituan.
Meituan is the world's largest on-demand food delivery service provider, according to its prospectus. It began trading publicly on the Hong Kong stock exchange in September 2018.