Wang Chuanfu
Encyclopedia
Wang Chuanfu is a Chinese
chemist
and businessman. Founder of BYD Company
, he is the wealthiest man in China as of late 2009.
, outside of Shenzhen
. Founded with his cousin Lu Xiangyang when he was just 29 years old, BYD Company is currently the world's biggest mobile phone
batteries manufacturer. In early 2009, he was reportedly worth US$1.3 billion, placing him #559 on Forbes
magazine's list of billionaires. In late 2009, his worth grew to $5.1 billion and was crowned China's richest man on the Hurun Rich List. This was due largely to a fivefold increase in his company's value after Warren Buffett
bought 225 million new shares of BYD in 2008.
People's Republic of China
China , officially the People's Republic of China , is the most populous country in the world, with over 1.3 billion citizens. Located in East Asia, the country covers approximately 9.6 million square kilometres...
chemist
Chemistry
Chemistry is the science of matter, especially its chemical reactions, but also its composition, structure and properties. Chemistry is concerned with atoms and their interactions with other atoms, and particularly with the properties of chemical bonds....
and businessman. Founder of BYD Company
BYD Company
BYD Co Ltd is a Chinese manufacturer of automobiles and rechargeable batteries based in Shenzhen, Guangdong province.Hailed for its innovations, BYD has grown to become a major manufacturer of rechargeable batteries, most notably mobile phone batteries....
, he is the wealthiest man in China as of late 2009.
Biography
Wang was born in China 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. After high school he studied chemistry at the Central South Industrial University of Technology, and went on to earn a master's degree in 1990 from the Beijing Non-Ferrous Research Institute. He spent several years as a government researcher, but in 1995 he entered the private sector and founded his own company, BYD CompanyBYD Company
BYD Co Ltd is a Chinese manufacturer of automobiles and rechargeable batteries based in Shenzhen, Guangdong province.Hailed for its innovations, BYD has grown to become a major manufacturer of rechargeable batteries, most notably mobile phone batteries....
, outside of Shenzhen
Shenzhen
Shenzhen is a major city in the south of Southern China's Guangdong Province, situated immediately north of Hong Kong. The area became China's first—and one of the most successful—Special Economic Zones...
. Founded with his cousin Lu Xiangyang when he was just 29 years old, BYD Company is currently the world's biggest mobile phone
Mobile phone
A mobile phone is a device which can make and receive telephone calls over a radio link whilst moving around a wide geographic area. It does so by connecting to a cellular network provided by a mobile network operator...
batteries manufacturer. In early 2009, he was reportedly worth US$1.3 billion, placing him #559 on Forbes
Forbes
Forbes is an American publishing and media company. Its flagship publication, the Forbes magazine, is published biweekly. Its primary competitors in the national business magazine category are Fortune, which is also published biweekly, and Business Week...
magazine's list of billionaires. In late 2009, his worth grew to $5.1 billion and was crowned China's richest man on the Hurun Rich List. This was due largely to a fivefold increase in his company's value after Warren Buffett
Warren Buffett
Warren Edward Buffett is an American business magnate, investor, and philanthropist. He is widely regarded as one of the most successful investors in the world. Often introduced as "legendary investor, Warren Buffett", he is the primary shareholder, chairman and CEO of Berkshire Hathaway. He is...
bought 225 million new shares of BYD in 2008.