On May 4, Ningde Times Board Chairman Zeng Yuqun topped the list of richest people in Hong Kong. According to the Forbes Real Time Billionaires list, Zeng Yuqun is now worth US$34.5 billion, surpassing Li Ka-shing and Lee Shau-kee, who have been occupying the richest seats in Hong Kong for years.
According to the Forbes Real Time Billionaires list, Tsang Yuk-kwan’s personal wealth not only surpasses Li Ka-shing’s US$34.4 billion, but also surpasses Lee Shau-kee’s US$32.1 billion, making him the richest person in Hong Kong.
In April this year, Tsang Yuk-kwan was ranked 52nd on the 2021 Forbes Global Rich List with US$28.4 billion.
Public information shows that Tsang Yuk-kwan was born in 1968 and is a permanent resident of Hong Kong.
Tsang Yuk-kwan’s emergence as the richest person in Hong Kong is closely related to the soaring share price of Ningde Times.
Over the past year, as demand for electric vehicles heated up, Ningde Times’ share price soared by more than 150%, and if calculated on the basis of annual increase in 2020, Ningde Times’ share price soared 230%, and its latest market value reached RMB 904.2 billion.
In the evening of April 29, Ningde Times released its first quarter 2021 earnings report. During the reporting period, Ningde Times achieved revenue of 19.167 billion yuan, up 112.24% year-on-year, and achieved a net profit of 1.672 billion yuan, up 290.5% year-on-year.
The company’s founder and chairman, Zeng Yuqun, now ranks 40th on Forbes’ list of the world’s richest people and is worth $34.5 billion, more than twice the $9.7 billion he was worth when the Communist Party’s virus epidemic hit the market in March last year.
Zeng Yuqun, who holds 24.53 percent of Ningde Times through Ruiting Times, is worth about 221.8 billion yuan, or $34.26 billion, based on the company’s market value, which is similar to Forbes’ real-time data.
In addition, Ningde Times now has more billionaires than U.S. tech giants like Google and Facebook, according to Forbes. Based on their shares in Ningde Times, a total of nine executives and early investors have reached a fortune of $1 billion or more on Forbes’ list of the world’s richest people.
In addition to Chairman Zeng Yuqun, Co-Vice Chairmen Huang Shilin and Li Ping have a net worth of $14.7 billion and $6.6 billion, respectively. Early investor Zhenhua Pei has a net worth of $8.5 billion.
The other five billionaires are: Zhao Fenggang ($2.4 billion), Wu Kai ($2.3 billion), Wu Yingming ($1.9 billion), Chen Qiongxiang ($1.8 billion) and Chen Yuantai ($1.3 billion). All four of these five hold executive positions at Ningde, except for Chen Qiongxiang, who was an early investor.
In addition, U.S. tech giants Google and Facebook have each given birth to eight billionaires, as has retail giant Wal-Mart, seven of whom are descendants of founder Sam Walton and his brother Bud Walton.
The performance of Li Ka-shing’s companies, CKI fell 26% last year and rebounded nearly 23% this year; CKH fell 23% last year and rebounded 17% this year, CKI fell 21% last year and rose 14% this year, and Power Assets fell 22% last year and rose 13% this year.
Li Ka-shing rely on online video communication platform zoom share price surge, this year’s personal wealth more than Lee Shau Kee, but still can not catch up with the growth of Zeng Yuqun’s Ningde Times.
While zoom surged nearly four times last year, it is down about 7% so far this year. And Ningde Times in last year’s surge of 230% on the basis of again rose more than 10%.
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