Ruan is the vice-chairman of Gongniu Group, a maker of electrical sockets and switches in China. The Cixi, Zhejiang-based company reported revenue of 10 billion yuan ($1.5 billion) in 2020 and has sales outlets in more than 300 cities across the country. It began trading publicly on the Shanghai stock exchange in February 2020.
Ruan Xueping's net worth of $6.04B can buy ...
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The majority of Ruan's fortune is derived from his 43% stake in Gongniu Group, an electrical appliance maker in China. The Cixi, Zhejiang-based company reported revenue of 10 billion yuan ($1.5 billion) in 2020. It has sales outlets in more than 300 cities across the country, according to the company's website.
Ruan owns his directly and through investment vehicle Ningbo Liangji Industry, where he co-owns with his older brother Ruan Liping, according to the company's 2021 third-quarter report.
Cash investments are valued based on an analysis of dividends, insider transactions, taxes and market performance.
Liu Shengsong, a spokesman for the company, declined to comment on the net worth calculation.
Ruan was born in 1972. He finished his studies after graduating from middle school in China, according to Gongniu Group's prospectus for its initial public offering. His older brother Ruan Liping was an electrical engineer in a state-owned institution and left his job to start a business producing sockets. Ruan later co-founded and managed the business with his brother and it became Gongniu Group in 1995.
Ruan's brother likes to play basketball and he named his business Gongniu, which also translates to "bull", after the National Basketball Association team the Chicago Bulls, according to a local media interview in 2017.
By the end of 2019, the company had annual sales of 10 billion yuan ($1.5 billion) and sales outlets in more than 300 cities across China.