Pursuits

Hong Kong Ex-Convict Becomes Billionaire With Tesla Dreams

A Tesla car for fast food delivery on Nov 27, 2014 in Chongqing, China.
Photograph: ChinaFotoPress via Getty Images

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By Jill Mao

April 29, 2015 at 9:10 PM UTC

Updated on

April 30, 2015 at 10:00 AM UTC

This article is for subscribers only.

Hong Kong businessman Stephen Wong was once jailed for theft and fraud. He’s now staging a comeback.

Wong, who founded Chinese TV maker Skyworth Digital Holdings Ltd., has amassed a net worth of $1.2 billion, according to the Bloomberg Billionaires Index. The majority of the fortune comes from his 36 percent stake in Skyworth. The rest is derived from a closely held electric-car maker that he’s modeling after billionaire Elon Musk’s Tesla Motors Inc.