Dang is the chairman of Ningxia Baofeng Energy Group, a chemical products maker. The Yinchuan, China-based company produces about 1.7 million tons of methanol annually and reported revenue of 13.6 billion yuan ($2 billion) in 2019. It began trading publicly on the Shanghai stock exchange in May 2019.
Dang Yanbao's net worth of $8.08B can buy ...
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The majority of Dang's fortune is derived from his 69% stake in Ningxia Baofeng Energy Group, a chemical products maker. The Yinchuan, China-based business produces about 1.7 million tons of methanol annually and had revenue of 13.6 billion yuan ($2 billion) in 2019.
Dang holds the shares directly and through investment vehicles including Ningxia Baofeng Group and Dongyi International Group, according to the company's 2020 semi-annual report.
Huang Aijun, a spokesman for the company, declined to comment on the net worth calculation.
Born in February 1973, Dang graduated from Ningxia University in July 1996 and was awarded an executive master’s degree in business administration from Peking University in July 2007, according the Baofeng International's website.
Dang founded Baofeng Energy, a chemical product maker and distributor in Yinchuan, China in 2005, after serving different roles in trading and construction, according to the company's May 2019 prospectus.
Dang also holds several public offices in China; he's a committee member of the 12th Chinese People’s Political Consultative Conference, a representative at the 11th People’s Congress of Ningxia Hui Autonomous Region and counselor for the People’s Government of Ningxia Hui Autonomous Region.