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# 277 Yu Yong $7.67B

Random fact: First invested in China Molybdenum in 2004.

Overview

Yu is the chairman and president of Cathay Fortune Corporation, a closely-held investment group that reported revenue of 174 billion yuan ($27 billion) in 2021. The Shanghai-based business holds stakes publicly traded miner China Molybdenum Company, the second largest cobalt and niobium producer in the world.

As of :
Last change +$46.3M ( +0.6%)
YTD change -$450M ( -5.5%)
Biggest asset 603993 CH Equity
Country / Region China
Age 61
Industry Finance
View net worth over:   Max 1 year 1 quarter 1 month 1 week

Relative Value

Yu Yong's net worth of $7.67B can buy ...

0
troy ounces of gold
0
barrels of crude oil

... and is equivalent to ...

0%
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:

Yu's wealth is derived from a 99% stake in Cathay Fortune Corporation, a closely-held investment group. The Shanghai-based company, also known as Hongshang Industrial Holding Group, had revenue of 174 billion yuan ($27 billion) in 2021, according to its annual report.

It's holdings include stakes in China Molybdenum. The Luoyang, China-based miner is one of the main cobalt and niobium producer in the world, according to its website.

China Molybdenum is publicly traded in Shanghai and Hong Kong. Yu holds about 30% of the shares that trade in Shanghai, according to the company's 2022 first-quarter report. He also has about 8% of the Hong Kong shares, according to the company's 2021 annual report.

Yu also owns a 1.1% stake in electric vehicle battery maker Contemporary Amperex Technology via Tibet Hongshang Capital Investment, according to the company's 2022 first-quarter report.

Cathay Fortune's other investments aren't included in this analysis because their value is uncertain.

Gao Fei, a spokesperson for China Molybdenum, declined to comment on the net worth calculation.

Biography

Birthdate: 2/27/1961
Family: Married, No children

Yu Yong was born in Wafangdian, China on Feb. 27, 1961. He graduated from Dalian Radio and Television University with a degree of Corporate Management, according to the China Molybdenum's 2016 prospectus.

He started his career at a paper mill in his hometown in 1987, and became general manager at Dalian Dongli Art-Textile in 1992. Yu joined the board of Cathy Fortune Corporation in July 2003 and became chairman and president of the group in December 2009, according to the prospectus.

He joined Dalian People’s Congress in 2007. He has also held positions at Wafangdian Charity Foundation and the Liaoning Association of Enterprises with Foreign Investment.

Milestones
  • 1990 Founds Dalian DongLi Artistic Textile company.
  • 1998 Founds Cathay Fortune.
  • 2006 Becomes CEO of China Fortune Acquisition.
  • 2007 China Molybdenum begins trading on the Hong Kong Stock Exchange.
  • 2012 Offers $847 million for Botswana's copper mine Discovery Atlas.
  • 2012 China Molybdenum begins trading on the Shanghai Stock Exchange.
  • 2013 Backs Rio Tinto's sale $885 million Northparkes Copper Mine Sale.
  • 2014 Invests in China Molybdenum, a producer of steelmaking materials.