Bloomberg Billionaires Index

View profiles for each of the world’s 500 richest people, see the biggest movers, and compare fortunes or track returns.

#369 Xu Chuanhua $4.85B

Random fact: Main focus has always been sales while his son handles operations.

Overview

Xu is the founder of Transfar Group, a closely held chemicals and logistics provider. The Hangzhou-based company has a majority stake in Transfar Zhilian, which makes chemicals used in textile manufacturing, construction and water treatment. The Shenzhen-listed subsidiary had revenue of 5.3 billion yuan ($850 million) in 2015.

As of July 20, 2017:
Last change -$36.3M (-0.7%)
YTD change -$937M (-16.2%)
Industry Industrial
Biggest asset 002010 CH Equity
Citizenship China
Age 81
Wealth Self-made
View net worth over:   Max 1 year 1 quarter 1 month 1 week

Relative Value

Xu Chuanhua's net worth of $4.85B 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
0%
of the top 200 U.S. executives’ total awarded compensation
0%
of U.S. existing home sales
0
times the median U.S. household income

Latest News

Net Worth Summary

Cash
Private asset
Public asset
Misc. liabilities
Confidence rating:

The majority of Xu's fortune is derived from his stake in Transfar Zhilian, a chemicals manufacturer. Xu and his family owns 64 percent of the publicly traded company via Hangzhou-based Transfar Group, according to its September 2016 quarterly report. The stakes in Transfar Group held by his two sons, as well as their 3 percent direct stakes, are also credited to him to reflect his status as the founder of the business.

The billionaire also owns 15 percent of Zhejiang, China-based pesticide producer Xinan Chemical Industrial through Transfar Group, according to its September 2016 quarterly report

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

Transfar Zhilian did not respond to an email requesting comment on Xu's net worth.

Biography

Birthdate: 1935
Family: Married, 2 children

Xu was born in Hangzhou, China in 1935. His leap into entrepreneurship began in 1986, after he lost his job as a salesperson. Saddled with debt when his son Xu Guanju got sick, the elder Xu decided to borrow 2,000 yuan to start a home business selling liquid soap.

The business grew swiftly, and the family was able to repay its debts within a year. Sales grew to 1.4 million yuan in 1988 (about $400,000 at the time) and by 1995 Transfar Group was officially established, with its product range expanding to include textile, household and agricultural chemicals.

Xu listed a Transfar Group unit, Transfar Zhilian, on the Shenzhen stock exchange in 2004. The group acquired Shanghai-listed Xinan Chemical the following year, giving it two publicly traded units.

Xu's sons Xu Guanju and Xu Guanbao now run the business while he remains the group's honorary chairman.

Milestones
  • 1986 Starts Transfar's predecessor, a business selling liquid soap.
  • 1989 Leases land to build a production plant.
  • 1990 Son Xu Guanju earns a national invention patent for textile dyeing.
  • 1995 Transfar Group is officially established.
  • 1996 Signs first international agreement with Japan's Daikin.
  • 2004 Transfar Zhilian begins trading on the Shezhen stock exchange.
  • 2005 Transfar acquires Xinan Chemical.
  • 2016 Announces 100 billion yuan investment in road network.