Bloomberg Billionaires Index

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# 162 Li Zhenguo $11.4B

Random fact: The company has sale networks in more than 10 countries.

Overview

Li is the founder of Longi Green Energy Technology, the world's biggest maker of solar panel components. The Xi'an, China-based business produces silicon products for use in panels and had revenue of 80.9 billion yuan ($12.5 billion) in 2021. It supplies about one-quarter of the world's solar modules and wafers.

As of :
Last change +$296M ( +2.7%)
YTD change -$2.00B ( -14.9%)
Biggest asset 601012 CH Equity
Country / Region China
Age 54
Industry Energy
View net worth over:   Max 1 year 1 quarter 1 month 1 week

Relative Value

Li Zhenguo's net worth of $11.4B 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:

Li's wealth is derived from his 19% stake in Longi Green Energy Technology, a solar panel company. The Xi'an, China-based business is the world's biggest producer of solar wafers meeting about one-quarter of the world's demand, according to its website.

Li owns the shares directly and with his wife, according to the company's 2022 first-quarter report. About 9% of his stake is pledged and removed from the net worth calculation. The valuation was updated on June 2, 2022 to reflect a reduction in the pledged share count and this led to an increase in the calculation of about $400 million.

A liability is included based on an analysis of insider transactions, dividends, taxes and market performance.

Feng Li, a spokesman for the company, declined to comment on the net worth calculation.

Biography

Birthdate: 5/1/1968
Family: Married, No children
Education: Lanzhou University

Li was born in May 1968. He studied physics in central China before graduating from Lanzhou University at the age of 22.

He began his career at a state-owned factory that made mono-crystalline silicon rods, according to an interview Li gave in 2019.

Li founded the predecessor of Longi in Xi'an, China in 2000. By 2007, it had built a silicon ingot facility with a 1000 tonne capacity, according to the company's website.

Longi started trading publicly trading in Shanghai in 2012. Lerri Solar was acquired in 2014.

The company was responsible for about one-quarter of the world's demand for solar modules and wafers in 2020.

Milestones
  • 2000 Longi is founded.
  • 2009 Completes a 350MW silicon slicing plant.
  • 2012 Starts trading publicly in Shanghai.
  • 2014 Wafer shipment exceeds 2GW.