Shi at the World Economic Forum annual meeting in 2012
Yangzhong, Jiangsu, China
|Alma mater||Zhejiang University
University of New South Wales
|Occupation||Founder, former Chairman & CEO
|Net worth||US$2.9 billion (2008)|
Shi Zhengrong (Chinese: 施正荣; Chinese: 施正榮; pinyin: Shī Zhèngróng, born 1963) is a Chinese-born Australian businessman. He is the founder and, up to March 2013, chairman and chief executive officer of Suntech Power.
Shi was born in Yangzhong, Jiangsu province, China. He finished his undergraduate study at Changchun University of Science and Technology in Changchun, and obtained his Master's degree from Shanghai Institute of Optics and Fine Mechanics, the Chinese Academy of Sciences. Afterward, Shi went to the University of New South Wales's School of Photovoltaic and Renewable Energy Engineering where he obtained his doctorate degree on solar power technology.
He acquired Australian citizenship and returned to China in 2001 to set up his solar power company - Suntech Power. According to Forbes Magazine, as of March 2008, he was one of the wealthiest people living in China, with a personal net worth of US$2.9 billion.
Shi was elected Fellow of the Australian Academy of Technological Sciences and Engineering in 2009.
Amid fierce price competition on its products, on 20 March 2013, the Suntech board declared bankruptcy in the wake of defaulting on US$541 million-worth of bonds, Shi having been ousted from the chairmanship earlier that month. The Financial Times, quoting the Shanghai Securities News, reported at the time that Shi's movements were being restricted and that he was not allowed to leave China pending an investigation into his role at Suntech.
He has donated funds for renewable energy research to the University of NSW, Australia "because he felt it was not getting an appropriate level of government support", according to Australian Greens Senator Christine Milne.
- "The alternative rich list". 2006-09-22. Retrieved 2007-05-07.
- Reuters http://www.reuters.com/finance/stocks/officerProfile?symbol=STP&officerId=710789
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- School of Photovoltaic and Renewable Energy Engineering
- "#396 Shi Zhengrong". The World's Billionaires (Forbes). 5 March 2008.
- Financial Times, Dark times for Suntech's solar star.
- 'Climate of fear' in solar research, The Canberra Times, 30 May 2006. Accessed 5 June 2006.