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 97.5 billion yuan ($14.1 billion) and provided food, lifestyle and travel services to more than 450 million customers in 2019. It began trading publicly in Hong Kong in 2018.
Wang Xing's net worth of $17.9B can buy ...
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Wang's fortune is derived from his 11.3% 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 450 million customers in 2019, according to its 2019 annual report.
Wang owns the shares through holding companies Crown Holdings and Shared Patience Inc., according to the company's 2019 annual report and a Hong Kong stock exchange filing dated Sept. 19, 2019.
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.