Bloomberg Billionaires Index

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# 235 Wang Xing $7.13B

Random fact: The company name means "beautiful and together" in Chinese.

Overview

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.

As of :
Last change +$97.4M ( +1.4%)
YTD change +$3.91B ( +121.8%)
Industry Technology
Biggest asset 3690 HK Equity
Citizenship China
Age 40
Wealth Self-made
View net worth over:   Max 1 year 1 quarter 1 month 1 week

Relative Value

Wang Xing's net worth of $7.13B can buy ...

0
troy ounces of gold
0
barrels of crude oil

... and is equivalent to ...

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of the GDP of the United States
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of the total wealth of the 500 richest people in the world
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of the top 100 U.S. college endowments
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of the top 200 U.S. executives’ total awarded compensation
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of U.S. existing home sales
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times the median U.S. household income

Latest News

Net Worth Summary

Cash
Private asset
Public asset
Misc. liabilities
Confidence rating:

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.

Biography

Birthdate: 1/1/1979
Family: Married, No children
Education: University of Delaware, Tsinghua University

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.

Milestones
  • 2005 Got a masters degree in computer engineering from University of Delaware.
  • 2005 Co-founded Xiaonei.com, China's first college social network website.
  • 2006 Sold Xiaonei.com to China InterActive Corp.
  • 2010 Meituan.com is launched.
  • 2013 Added hotel-booking and food delivery services.
  • 2015 Merged with Dianping Holdings.
  • 2017 Exceeded 5.8 billion transactions annually.
  • 2018 Acquired bike startup Mobike.