Wang is a co-founder and chairman of Meituan Dianping, the world’s largest on-demand food delivery company. The Beijing-based business had revenue of 65 billion yuan ($9.9 billion) and provided food, lifestyle and travel services to more than 400 million customers in 2018. It began trading publicly in Hong Kong in September 2018.
Wang Xing's net worth of $7.13B can buy ...
... and is equivalent to ...
Wang's fortune is derived from his 10.4 percent stake in Meituan Dianping, a Chinese online services company. Meituan Dianping is the world's largest on-demand food delivery service platform with more than 400 million customers in 2018, according to its 2018 annual report.
Wang owns the shares through holding companies Crown Holdings and Shared Patience Inc., according to the same annual report.
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 Dianping'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, and the new company became known as Meituan Dianping.
Meituan Dianping 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.