Wang Chuanfu (Chinese: 王传福; born 1966) is a Chinese chemist, billionaire entrepreneur, and the founder, chairman and CEO of BYD Company.

Wang Chuanfu
Wang in 2023
Born (1966-04-08) April 8, 1966 (age 58)
EducationCentral South University
Beijing Non-Ferrous Research Institute
Occupation(s)Chemist, businessman
OrganizationDelegate to the National People's Congress
Known forFounder and CEO of BYD Company
Political partyChinese Communist Party
SpouseMarried

Early life edit

Wang was born in Wuwei County, Anhui province to a family of poor farmers. While in high school he was cared for by his elder brother and sister because both of his parents had died.[1]

After high school, he studied metallurgical physical chemistry (冶金物理化学) at the then Central South Industrial University (nowadays the Central South University) and graduated in 1987.[2] He went on to earn a master's degree in 1990 from the Beijing Non-Ferrous Metal General Research Institute (北京有色金属研究总院; now GRINM Group).[3]

Career edit

He spent several years as a government-sponsored researcher, but in 1995 he entered the private sector and founded his own company, BYD Company, outside of Shenzhen.[3] Founded with his cousin Lu Xiangyang when he was 29 years old, BYD Company is currently the world's largest mobile phone batteries manufacturer.[4] In early 2009, he was reportedly worth US$3.4 billion, placing him 408th on Hurun Report's Global Rich List 2014.[5] In late 2009, his net worth grew to $5.1 billion and was crowned China's richest man on the Hurun Report. This was due largely to a five-fold increase in his company's value after Berkshire Hathaway bought 225 million new shares of BYD in 2008.[6]

In November 2021, Forbes reported that Wang's wealth had increased to $23.5 billion, making him the 14th richest person in China, this was due to a two-fold increase in BYD's share price over the previous year.[7]

Politics edit

Wang is a member of the Chinese Communist Party and has served as a delegate to the National People's Congress.[8][9][10]

Personal life edit

Wang is married and lives in Shenzhen.[11]

References edit

  1. ^ Gunther, Marc (2009-04-13). "Warren Buffett takes charge". Fortune After. Archived from the original on 2009-04-14. Retrieved 2009-04-13.
  2. ^ "中国首富王传福长沙4年笑与泪 毕业于中南大学-中南大学新闻网门户网站". 中南大学新闻网门户网站 (in Chinese). Retrieved 2024-05-06.
  3. ^ a b "The Stars of Asia: Wang Chuanfu". BusinessWeek. 2003-06-09. Archived from the original on June 19, 2003. Retrieved 2009-04-13.
  4. ^ "Wang Chuanfu: Building electric dreams in China". CNN. 2009-09-29. Archived from the original on 2009-08-28. Retrieved 2009-09-29.
  5. ^ "Wang Chuanfu". Hurun. Archived from the original on 2017-05-14. Retrieved 2009-04-13.
  6. ^ "BYD's Wang Chuanfu Tops China Rich List After Buffett Backing". Bloomberg. 2009-09-29. Retrieved 2009-09-29.
  7. ^ Flannery, Russell. "Stock, Sales Surge Lifts Wealth Of China EV Maker BYD's CEO". Forbes. Archived from the original on 2021-11-07. Retrieved 2021-11-08.
  8. ^ He, Laura (2020-07-17). "A US travel ban would bar China's top billionaire entrepreneurs from America". CNN. Archived from the original on 2021-06-17. Retrieved 2024-01-25.
  9. ^ Xia, Jun; Yao, Fiona Kun; Yin, Xiaoli; Wang, Xinran; Lin, Zhouyu (2023-12-27). "How Do Political and Nonpolitical Ties Affect Corporate Regulatory Participation? A Regulatory Capture Perspective". Business & Society. doi:10.1177/00076503231219687. ISSN 0007-6503.
  10. ^ Brendan, Scott (2017-03-07). "The Pomp and Politics of China's Annual Congress". Bloomberg News. Archived from the original on 2020-11-11. Retrieved 2024-01-25.
  11. ^ "Forbes profile: Wang Chuanfu". Forbes. Archived from the original on 27 October 2022. Retrieved 26 January 2021.