Wang Chuanfu

From Wikipedia, the free encyclopedia
In this Chinese name, the family name is Wang.
Wang Chuanfu
Wang in 2023
Born (1966-04-08) April 8, 1966 (age 58)
Wuwei County, Anhui, China
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

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

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. 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).[2]

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.[2] Founded with his cousin Lu Xiangyang when he was 29 years old, BYD Company is currently the world's largest mobile phone batteries manufacturer.[3] In early 2009, he was reportedly worth US$3.4 billion, placing him 408th on Hurun Report's Global Rich List 2014.[4] 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.[5]

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.[6]

Politics[edit]

Wang is a member of the Chinese Communist Party and has served as a delegate to the National People's Congress.[7][8][9]

Personal life[edit]

Wang is married and lives in Shenzhen.[10]

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. ^ a b "The Stars of Asia: Wang Chuanfu". BusinessWeek. 2003-06-09. Archived from the original on June 19, 2003. Retrieved 2009-04-13.
  3. ^ "Wang Chuanfu: Building electric dreams in China". CNN. 2009-09-29. Archived from the original on 2009-08-28. Retrieved 2009-09-29.
  4. ^ "Wang Chuanfu". Hurun. Archived from the original on 2017-05-14. Retrieved 2009-04-13.
  5. ^ "BYD's Wang Chuanfu Tops China Rich List After Buffett Backing". Bloomberg. 2009-09-29. Retrieved 2009-09-29.
  6. ^ 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.
  7. ^ 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.
  8. ^ 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.
  9. ^ 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.
  10. ^ "Forbes profile: Wang Chuanfu". Forbes. Archived from the original on 27 October 2022. Retrieved 26 January 2021.
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