Bloomberg Billionaires Index

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# 313 Leng You-Bin $6.16B

Random fact: All Feihe infant milk formula products are made from fresh milk.

Overview

Leng is the chief executive officer of China Feihe, the largest baby formula producer in mainland China. The Beijing-based business also provides vitamin supplements, and had revenue of 5.1 billion yuan ($723 million) in 2018. It sells infant milk in more than 100,000 stores and has over 5,400 employees in China.

As of :
Last change +$156M ( +2.6%)
YTD change +$934M ( +17.9%)
Industry Consumer
Biggest asset 6186 HK Equity
Citizenship China
Age 51
Wealth Self-made
View net worth over:   Max 1 year 1 quarter 1 month 1 week

Relative Value

Leng You-Bin's net worth of $6.16B can buy ...

0
troy ounces of gold
0
barrels of crude oil

... and is equivalent to ...

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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:

The majority of Leng's fortune is derived from his stake in China Feihe, an infant milk maker in mainland China. Leng owns a 48% stake with his daughter through holding vehicles, according to the company's prospectus for its November 2019 initial public offering.

The value of his cash investments is based on an analysis of dividends, insider transactions, taxes and market performance.

Florence Chen, spokeswoman for the company, declined to comment on the billionaire's net worth.

Biography

Birthdate: 1/1/1969
Family: Married, 2 children
Education: Northeast Agricultural University, Shanghai Light Industrial College, Peking University

Hongguang Dairy, the predecessor of Feihe, was established in 1962 as a state-owned enterprise and later changed its name to Zhaoguang Dairy and registered "Feihe" as a trademark in 1984.

Leng started working in Zhaoguang Dairy in 1987 and had varying roles for about a decade. He studied dairy and food in college and graduated from Northeast Agricultural University in Heilongjiang, China in July 1995 through a correspondence course, according to the company's prospectus.

Between 1998 and 2001, Leng acquired 95.4% of the assets of Zhaoguang Dairy for 7 million yuan ($1 million). This was part of an enterprise restructuring by China’s state-owned companies,

Flying Crane U.S., a subsidiary owned by Feihe, was formerly traded on an over-the-counter bulletin board in early 2000s before switching to New York Stock Exchange in 2009. Four years later it delisted with a market value of $146 million.

Leng obtained a degree from the School of Economics of Peking University in 2002. He has been the chairman and chief executive officer of China Feihe since January 2013.

Milestones
  • 1962 Hongguang Dairy, the predecessor of Feihe, is established.
  • 1984 Registers brand name Feihe in China.
  • 2009 Flying Crane U.S. starts trading on the New York Stock Exchange.
  • 2013 Flying Crane U.S. is privatized.
  • 2019 China Feihe applies for an initial public offering in Hong Kong.