Bloomberg Billionaires Index

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# 427 Cheng Xue $5.82B

Random fact: Built world's largest cluster of fermentation tanks in China.

Overview

Cheng is the vice chairman of Foshan Haitian Flavouring & Food, China’s largest soy sauce maker. The Foshan-based company reported revenue of 22.8 billion yuan ($3.3 billion) in 2020. The food producer makes more than 300 different condiments including oyster sauce, vinegar, chicken stock and oil.

As of :
Last change +$59.4M ( +1.0%)
YTD change -$1.52B ( -20.8%)
Biggest asset 603288 CH Equity
Country / Region China
Age 52
Industry Food & Beverage
View net worth over:   Max 1 year 1 quarter 1 month 1 week

Relative Value

Cheng Xue's net worth of $5.82B 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 Cheng's wealth is derived from her stake in Foshan Haitian Flavouring & Food, China’s largest soy sauce maker. She owns about 11% of the company, according to the company's 2021 third-quarter report. Foshan Haitan makes more than 300 products, according to its website.

Cheng holds the shares directly and through privately-held Guangdong Haitian Holding. The billionaire holds 13% of this Foshan-based holding company, according to its 2019 annual report on China's AIC website. The holding company isn't valued separately because it doesn't disclose financial results. The fortune is calculated using the value of the publicly traded stakes.

A liability is included based on an analysis of dividend income, insider transactions, taxes and market performance.

Guo Luojiang, a spokesman for Foshan Haitian, declined to comment on the net worth calculation.

Biography

Birthdate: 2/26/1970
Family: Unmarried, No children

Cheng was born in 1970.

Foshan Sauce Shop was restructured as a limited company and renamed as Foshan Haitian Flavouring & Food in 1995.

Cheng served as Haitian's advertising head in 1997 and became a board director in November 2010, according to company's 2018 annual report.

The company began trading publicly in Shanghai through an initial publicly offering in 2014. The Foshan-based business produces over 300 kinds of sauces and flavoring products annually, according to the company's website.

Milestones
  • 1994 Haitian restructures from state-owned company into a limited liability company.
  • 2013 Sales revenue exceeds 10 billion yuan.
  • 2013 Introduces smart robot handling system in Haitian factories.
  • 2014 Haitian goes public on the Shanghai Stock Exchange.