China’s emergence as the world’s greatest automobile marketplace has developed business possibility not only for global giants like GM and Ford scrappy, ambitious entrepreneurs are also earning fortunes and finding success. Here’s a listing of the country’s 5 richest businesspeople from the market as they are ranked on the new 2014 Forbes Billionaires Record published this month.
(Rank, name, business identify, estimated fortune)
196. Wei Jianjun, Great Wall Motor Excellent Wall Motor, $ 6.9 billion
China’s richest car entrepreneur is Wei Jianjun, who chairs Wonderful Wall Motor, one of the greatest non-state businesses and a massive maker of SUVs. Wei runs his empire from Baoding, south of Beijing, in Hebei Province. Sales at the business in the very first 3 quarters of last 12 months rose by virtually a third from a 12 months earlier to $ 9.3 billion. For all of last year, Wonderful Wall made 127,141 pick-up trucks, 421,593 SUVs and 208,785 sedans. Excellent Wall was a member of Forbes Asia’s Fab 50 record of the region’s greatest large organizations last year.
345. Wang Chuanfu, BYD BYD, $ 4.3 billion
Wang Chuanfu chairs BYD, a sedan and battery maker. Wang noticed his net really worth climb virtually $ 2 billion from a year ago as the share price tag of BYD enhanced. BYD is about 10% owned by Warren Buffett’s Berkshire Hathaway. He has had much better many years: Wang was China’s richest man in 2009 with a net really worth of $ 5.8 billion.
446. Lu Guanqiu, Wanxiang Group, $ 3.5 billion
Lu Guanqiu chairs the Hangzhou-primarily based Wanxiang Group, China’s largest car parts firm. Wanxiang, which is presently an established U.S. producer with a lot more than 3,000 personnel stateside, won a bankruptcy auction for the assets of Fisker Automotive, the defunct manufacturer of the Karma plug-in hybrid sports activities automobile in February.
506. Lu Xiangyang, BYD, $ 3.2 billion
Lu is the vice chairman of BYD and companion of Wang Chuanfu.
973. Li Shufu, Geely Automobile, $ one.85 billion
Li Shufu chairs Geely Car Holdings, a single of China’s 10 biggest automakers and one particular of handful of to uncover accomplishment outside of China. Geely’s EC7–its best offering model– is also a single of the prime offering automobile designs in the Ukraine, Egypt and Saudi Arabia. Geely exported 50,438 automobiles in the very first 6 months of 2013, up 26% from the very same time period last yr. Final yr, the company signed a strategic cooperation framework with Detroit Electric, a U.S. electric carmaker, to co-create electrical vehicles for the China marketplace. His private holding business acquired Volvo in Aug 2010.
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