Li Jinyuan (businessman)

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Li Jinyuan
Born Chinese: 李金元
1958
Cangzhou, Hebei
Residence Tianjin
Nationality Chinese
Alma mater Nankai University
Occupation Businessman
Known for Founder of Tiens Group
Board member of Tiens Group

Li Jinyuan (Chinese: 李金元; born 1958) is a Chinese billionaire and philanthropist. He is the founder, chief executive, and chairman of Tiens Group, a direct seller of healthcare products. He was featured on Forbes' 2011 list of the world's billionaires as the 24th richest person in China at that time.

Early life and education[edit]

Li Jinyuan was born in Cangzhou, Hebei Province, in 1958.[1] He dropped out of school at the age of 14 and worked in an oilfield for two years before starting in business on his own account.[2] He has an MBA from Nankai University.[1]

Career[edit]

Li founded Tiens Group, a direct seller of healthcare products, in Tianjin in 1995.[1] It was reported in 2015 that the company had 12,000 employees.[3] He is now chairman and chief executive.[4]

In 2011, Forbes magazine estimated his wealth at $1.2B US,[1] making him the 24th richest person in China at that time.[3]

He received press attention in 2015 when he took 6,400 of his employees on holiday to France at a cost of £24m.[3] Li was pictured greeting his employees at the opening parade standing in a United States Army jeep.[5] The event required the booking of 140 hotels in Paris, and 7,600 tickets on France's high-speed TGV trains to transport his staff to the French coast where over 4,000 rooms were required in hotels in Monaco and Cannes.[3] The visit was described by the International Business Times as an "expensive gesture" that demonstrated the "growing economic power of China".[6]

Philanthropy[edit]

According to Forbes, Li has created a Tiens Meijing International Charitable Foundation with an endowment of approximately $100 million and also provided $100 million to start a private school in Tianjin known as the Tianshi College which in 2011 enrolled over 3,000 students.[1]

The Economic Times reported in 2016 that Li had "contributed generously to flood and tsunami-relief efforts and the fight against the SARS virus".[2]

References[edit]

  1. ^ a b c d e Li Jinyuan. Forbes. Retrieved 15 August 2018.
  2. ^ a b Meet five billion dollar titans of China apart from Alibaba's Jack Ma. The Economic Times, 24 May 2016. Retrieved 15 August 2018.
  3. ^ a b c d Li Jinyuan: Chinese billionaire takes 6,400 Tiens Group staff on holiday at cost of £24m. Ben Tufft. The Independent, 10 May 2015. Retrieved 15 August 2018.
  4. ^ Li Jinyuan. Bloomberg. Retrieved 15 August 2018.
  5. ^ The ultimate package holiday: Chinese billionaire takes 6,400 staff to France. Nicola Davison, The Telegraph, 10 May 2015. Retrieved 15 August 2018.
  6. ^ Chinese billionaire Li Jinyuan takes 6,400 staff on holiday to France. Mark Piggott, International Business Times, 9 May 2015. Retrieved 15 August 2018.