Bloomberg Billionaires Index

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# 97 Liu Yongxing $17.4B

Random fact: Younger brother Liu Yonghao is also a billionaire.


Liu is the chairman of East Hope Group, a Shanghai-based conglomerate. The closely held company had annual revenue of more than 184 billion yuan ($28.6 billion) in 2021. It has about 30,000 employees and is involved in aluminum production, energy, agriculture, chemicals as well as commercial and residential real estate.

As of :
Last change +$56.7M ( +0.3%)
YTD change +$2.26B ( +14.9%)
Biggest asset East Hope Group (Aluminum)
Country / Region China
Age 74
Industry Industrial
View net worth over:   Max 1 year 1 quarter 1 month 1 week

Relative Value

Liu Yongxing's net worth of $17.4B can buy ...

troy ounces of gold
barrels of crude oil

... and is equivalent to ...

of the GDP of the United States
of the total wealth of the 500 richest people in the world
of the top 100 U.S. college endowments
of the top 200 U.S. executives’ total awarded compensation
of U.S. existing home sales
times the median U.S. household income

Latest News

Net Worth Summary

Private asset
Public asset
Misc. liabilities
Confidence rating:

Liu's wealth is derived from East Hope Group, a closely held conglomerate. The Shanghai-based company is owned by Liu, his wife and his daughter. Liu is credited with full ownership in the net worth analysis to reflect his status as chairman. The Shanghai-based group has about 30,000 employees and is involved in aluminum production, energy, agriculture, chemicals and real estate, according to the company's website.

The group had revenue of 184 billion yuan ($28.6 billion) in 2021, according a top 500 ranking by All China Federation of Industry and Commerce. Revenue for the aluminium and cement businesses has been estimated based on the ranking and financials from a 2017 bond filing by East Hope Enterprise Management, the parent of East Hope Group.

The aluminium unit is valued using reported financial results and the average enterprise value-to-Ebit and enterprise value-to-sales multiples of five publicly traded peers: Aluminum Corp of China Ltd, Yunnan Aluminium Co Ltd, Reliance Steel & Aluminum Co, Norsk Hydro ASA and Alcoa Corp.

The cement business is valued using the average price-to-earnings, enterprise-value-to-sales and enterprise-value-to-EBIT multiple of five publicly traded peers: Tangshan Jidong Cement Co, Asia Cement China Holdings Corp, West China Cement, Ningxia Building Materials Group Co and Anhui Conch Cement Co.

The financials used in the calculation were updated on Dec. 13, 2022 and this led to an increase in the valuation of almost $5 billion.

The other East Hope Group businesses are valued at one-times sales based on information in the top 500 ranking and 2017 bond filing. East Hope Group's materials and animal feed divisions were previously included here as separate assets. The methodology was changed to better reflect the bond filing.

A company spokeswoman, who declined to give her name, said the company declined to comment on the net worth calculation.


Family: Married, 1 child

In 1980, Yongxing Liu was a 32-year-old factory worker and mathematics student at a teacher's college in the southwestern China city of Chengdu. He and his wife had savings of about $30, which was to be used for his tuition. Tradition in China dictates that families should gather for elaborate holiday feasts before the Chinese New Year festival in the spring. All Liu could afford that year was an 8-pound goose, which he gave to his 4-year-old son, Xiangyu, to hold. Xiangyu was so excited that he accidentally let the goose escape, and with it, the main course for the family's holiday dinner.

Dismayed and disgraced, Liu set-up a street stand to make money by repairing radios to buy meat for his son. He earned about $50 in the first week, almost a year's pay from his factory job. The experience impressed upon him the notion that as long as he worked hard, he would be able to get out of poverty, Liu said in an interview with the 21st Century Business Herald in 2010.

Two years later, Yongxing quit his job and joined his three brothers -- Yongyan, Yongmei and Yonghao -- raising and selling quail. They sold their watches and bicycles, and pooled $500 in start-up capital. A decade after China embarked on economic reforms under the leadership of Deng Xiaoping, the brothers founded Hope Group in 1991 and turned it to one of the biggest animal feed makers in the country.

The brothers split the business in 1995, with Yongxing taking East Hope Group, which diversified into aluminum production in 2002. East Hope is now headquartered in Shanghai, where it moved from Chengdu in 1999.

  • 1948 Liu is born to a rural family in Xinjin, in China's Sichuan province.
  • 1980 Graduates from Chengdu Teachers College in capital city of Sichuan.
  • 1982 Starts quail breeding business with his three brothers in Sichuan.
  • 1991 Brothers turn quail breeding farm into pig feed maker Hope Group.
  • 1995 Liu founds East Hope after brothers split Hope Group into four companies.
  • 1999 Relocates company headquarters to Shanghai from Chengdu.
  • 2002 Company starts an aluminum manufacturing business in China.
  • 2014 Joins eight China tycoons to meet with Premier Li Keqiang in Beijing.