Bloomberg Billionaires Index

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#495 Jiang Bin $3.85B

Random fact: Graduated from one of China's best engineering schools.

Overview

Jiang is the founder and chairman of GoerTek, a publicly traded electronics maker that had revenue of $2.8 billion in 2016. The Weifang, China-based company makes microphones, speakers, headphones and Bluetooth wireless headsets for gadget makers such as Apple, Samsung, Nokia, Panasonic and Lenovo.

As of June 26, 2017:
Last change +$65.9M (+1.7%)
YTD change +$1.43B (+59.0%)
Industry Technology
Biggest asset 002241 CH Equity
Citizenship China
Age 50
Wealth Self-made
View net worth over:   Max 1 year 1 quarter 1 month 1 week

Relative Value

Jiang Bin's net worth of $3.85B can buy ...

0
troy ounces of gold
0
barrels of crude oil

... and is equivalent to ...

0%
of the GDP of the United States
0%
of the total wealth of the 500 richest people in the world
0%
of the top 100 U.S. college endowments
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of the top 200 U.S. executives’ total awarded compensation
0%
of U.S. existing home sales
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times the median U.S. household income

Latest News

Net Worth Summary

Cash
Private asset
Public asset
Misc. liabilities
Confidence rating:

Almost all of Jiang's wealth is derived from his family's majority stake in electronics maker GoerTek. He owns 42 percent of the business through holding company Weifang GoerTek Group and an employee shareholding scheme, according to the 2016 annual report and the 2017 first quarter report. 

A total of 53 million of Jiang's shares via Weifang GoerTek Group are pledged as collateral, according to a company disclosure dated June 14, 2017. These are excluded from the net worth calculation.

The value of his cash investments is based on an analysis of calculated dividends, stock transactions, market performance and taxes.

GoerTek board secretary Jia Jun'an said the billionaire declined to comment on his net worth.

Biography

Birthdate: 9/1966
Family: Married, 1 child
Education: Tsinghua University, MBA Beijing University Aeronautics & Astronautics, Bachelor's Degree

Jiang Bin was born in Weifang in eastern China's Shandong province in 1966. At age 21, after graduating from Beijing University of Aeronautics and Astronautics, one of the country's best engineering schools, he was assigned a job at a state-owned electronics company.

After working at a series of state enterprises, foreign companies and joint ventures, he and his wife started a microphone factory. They emulated Japan's Panasonic, which they believed was the leader in microphones at the time, according to Moneyweek.

The duo gradually expanded their business to include supplying cellphone speakers and Bluetooth earphones to global consumer electronic companies. Goertek's clients now include Samsung, Apple, LG and Panasonic.

The Weifang, Shandong-based company raised $86 million by selling shares to the public on the Shenzhen Stock Exchange's Nasdaq-style board for small- and medium-sized companies. GoerTek had revenue of $2.8 billion in 2016.

Milestones
  • 1966 Jiang Bin is born in eastern China's Shandong province.
  • 1987 Graduates from Beijing University of Aeronautics and Astronautics.
  • 1997 Founds predecessor of GoerTek with wife Hu Shuangmei.
  • 1999 Secures Panasonic as company's first major foreign client.
  • 2004 Starts development and production of Bluetooth earphones.
  • 2005 Brother Jiang Long joins company as vice chairman.
  • 2007 Changes company's name to GoerTek.
  • 2008 GoerTek sells shares in an initial public offering.
  • 2008 GoerTek established U.S. and Hong Kong subsidiaries.
  • 2009 Signs manufacturing contract with U.S. headset maker Plantronics.