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) 8 April 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 8 April 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.[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 (13 April 2009). "Warren Buffett takes charge". Fortune After. Archived from the original on 14 April 2009. Retrieved 13 April 2009.
  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 6 May 2024.
  3. ^ a b "The Stars of Asia: Wang Chuanfu". BusinessWeek. 9 June 2003. Archived from the original on 19 June 2003. Retrieved 13 April 2009.
  4. ^ "Wang Chuanfu: Building electric dreams in China". CNN. 29 September 2009. Archived from the original on 28 August 2009. Retrieved 29 September 2009.
  5. ^ "Wang Chuanfu". Hurun. Archived from the original on 14 May 2017. Retrieved 13 April 2009.
  6. ^ "BYD's Wang Chuanfu Tops China Rich List After Buffett Backing". Bloomberg. 29 September 2009. Retrieved 29 September 2009.
  7. ^ Flannery, Russell. "Stock, Sales Surge Lifts Wealth Of China EV Maker BYD's CEO". Forbes. Archived from the original on 7 November 2021. Retrieved 8 November 2021.
  8. ^ He, Laura (17 July 2020). "A US travel ban would bar China's top billionaire entrepreneurs from America". CNN. Archived from the original on 17 June 2021. Retrieved 25 January 2024.
  9. ^ Xia, Jun; Yao, Fiona Kun; Yin, Xiaoli; Wang, Xinran; Lin, Zhouyu (27 December 2023). "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 (7 March 2017). "The Pomp and Politics of China's Annual Congress". Bloomberg News. Archived from the original on 11 November 2020. Retrieved 25 January 2024.
  11. ^ "Forbes profile: Wang Chuanfu". Forbes. Archived from the original on 27 October 2022. Retrieved 26 January 2021.
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