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.
Li Zhenguo's net worth of $11.4B can buy ...
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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.
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.