Bloomberg Billionaires Index

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#391 Ingrid Wu $4.68B

Random fact: Previously worked as chief financial officer of the U.S. branch.

Overview

Wu is co-founder of AAC Technologies Holdings, a mobile phone component maker with revenue of 15.5 billion yuan ($2.3 billion) in 2016. The Shenzhen based company builds miniaturized speakers and receivers for clients including Apple and Samsung. Wu co-founded the publicly traded business with her husband Pan Zhengmin in 1993.

As of July 24, 2017:
Last change -$170M (-3.5%)
YTD change +$1.37B (+41.1%)
Industry Technology
Biggest asset 2018 HK Equity
Citizenship United States
Age 46
Wealth Self-made
View net worth over:   Max 1 year 1 quarter 1 month 1 week

Relative Value

Ingrid Wu's net worth of $4.68B 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
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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:

The majority of Wu's wealth is derived from her 26 percent stake in AAC Technologies Holdings, a producer of miniaturized speakers and receivers for mobile phones. Wu owns 21 percent of the Shenzhen-based company directly and through Hong Kong-based Sapphire Hill Holdings, according to the company's 2016 annual report. She is also credited with half of her children's 9 percent stake because she shares control of the interest with her husband, Pan Zhengmin.

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

Cecilia Shum, an external media representative for AAC, declined to comment on the billionaire's net worth.

Biography

Birthdate: 1970
Family: Married, No children
Education: 1989, Changzhou Party School, Graduated 1989, Changzhou School of Public Health, Graduated

Wu Chunyuan, or Ingrid Wu, was born in 1970 in China's eastern city of Changzhou. She graduated from the Changzhou School of Public Health in 1989, and worked as a nurse before co-founding Shenzhen Yuanyu, the predecessor of AAC Technologies Holdings.

The manufacturer of miniature acoustic components was established in 1993 in Shenzhen, just across the border from neighboring Hong Kong, where it gained access to middlemen and dealers from overseas. Wu and her husband moved to the U.S. three years later and became a supplier of transducers for Motorola.

AAC set up its German branch to expand its sales to European clients in 2000. The company receives more than half of its sales from Apple and Samsung, according to data compiled by Bloomberg.

Wu stepped down from running the daily operations of AAC in 2005, after Du Kuang-Yang was hired as the chief operating officer. The company went public in Hong Kong the same year. Wu continues to serve as a non-executive director.

Milestones
  • 1970 Wu Chunyuan is born in Changzhou.
  • 1989 Graduates from Changzhou School of Public Health.
  • 1993 Co-founds AAC Technologies Holdings.
  • 1996 Expands business into the U.S.
  • 1998 Establishes another venture called Shenzhen Meiou.
  • 2000 Co-founds Changzhou AAC.
  • 2001 Sets up YEC Electronics in Hong Kong to manage overseas distribution.
  • 2005 Lists on the Hong Kong Stock Exchange