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# 202 Zhang Yong $8.12B

Random fact: Quit job at a tractor factory to start Haidilao with a friend.

Overview

Zhang is a co-founder and chairman of Haidilao International Holding, China's biggest chain of hotpot restaurants. The Beijing-based business has more than 460 restaurants and reported revenue of 17 billion yuan ($2.6 billion) in 2018. Zhang also has a stake in publicly-traded Yihai International Holding, a Haidilao supplier.

As of :
Last change +$83.8M ( +1.0%)
YTD change +$4.31B ( +113.4%)
Industry Food & Beverage
Biggest asset 6862 HK Equity
Citizenship Singapore
Age 48
Wealth Self-made
View net worth over:   Max 1 year 1 quarter 1 month 1 week

Relative Value

Zhang Yong's net worth of $8.12B 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 Zhang's fortune is derived from his half-share of a majority stake in restaurant chain Haidilao International Holding. The Beijing-based business is the largest hotpot chain in China and has more than 460 locations, according to the company's 2018 annual report.

He controls a 58 percent stake with his wife, Shu Ping, through discretionary trusts via holding companies, according to the same annual report. Zhang and Shu are described as co-founders in the prospectus and each is attributed a half share of their combined shareholding in this analysis because they are joint beneficiaries of the trusts that hold the shares.

They also own a total of 36 percent of Yihai International, another Haidilao Group subsidiary traded in Hong Kong, according to a filing dated March. 8, 2019. Zhang is credited with half of their combined stake.

Yang Yingying, a spokesperson for Haidilao, said the billionaire declined to comment on the net worth calculation.

Biography

Birthdate: 1/1/1971
Family: Married, 1 child

Zhang was born in a small county of Jianyang in China in 1971. He attended a vocational school and was sent to work in a tractor factory after graduation. He quit his job two years later and set up his first hotpot restaurant with his friends in his hometown in 1994.

He opened his second outlet in Henan province in 1999, and gradually expanded the brand across the country, according to Haidilao's website. The company, named after a term in a version of the game Majong, first expanded outside China with a site in Singapore in 2012, and later opened hotpot restaurants in Los Angeles and Seoul.

With his wife he owns a stake Yihai International Holding, the seasoning supplier that became publicly traded in Hong Kong in 2016.

Haidilao began trading publicly in Hong Kong in 2018.

Milestones
  • 1971 Born in Jianyang, Sichuan, China.
  • 1994 First Haidilao hotpot restaurant set up in Jianyang, China.
  • 2010 Launches hotpot delivery service.
  • 2012 Haidilao subsidiary brand U-Ding-U opens.
  • 2012 First overseas outlet opens in Singapore.
  • 2013 Moves seasoning and sauce factory from Sichuan to Henan, China.
  • 2013 Enters the US market.
  • 2016 Yihai International, a seasoning supplier, starts trading in Hong Kong.