Feng Becomes Billionaire as Beijing Baofeng Shares Jump 35 Times

Feng Xin, chairman of Beijing Baofeng Technology Co., became a billionaire after his stock surged 35 times since its trading debut almost two months ago.

Shares of the provider of online entertainment tools such as video download converters and movie players surged 10 percent to 252.86 yuan at the Shenzhen close Wednesday, after rising by the daily trading limit in all but one day since its initial public offering.

The gain gave Feng a fortune of $1 billion, according to the Bloomberg Billionaires Index.

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