Bloomberg Billionaires Index

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#125 Gong Hongjia $11.4B

Random fact: Has the world's largest R&D team among video surveillance providers.

Overview

Gong is vice chairman of Hangzhou Hikvision Digital Technology, the world's largest supplier of video surveillance products. The Hangzhou, China-based company has more than 18,000 employees and reported revenue of 31.7 billion yuan ($4.8 billion) in 2016 from the sale of its cameras and surveillance equipment.

As of April 21, 2018:
Last change -$251M (-2.2%)
YTD change +$227M (+2.0%)
Industry Technology
Biggest asset 002415 CH Equity
Citizenship China
Age 52
Wealth Self-made
View net worth over:   Max 1 year 1 quarter 1 month 1 week

Relative Value

Gong Hongjia's net worth of $11.4B can buy ...

0
troy ounces of gold
0
barrels of crude oil

... and is equivalent to ...

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of the GDP of the United States
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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
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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 Gong's fortune is derived from his stake in Hangzhou Hikvision Digital Technology, the world's largest supplier of video surveillance products, according to its website. He owns a 17 percent of the company directly and through Xinjiang Pukang Investment company that is 80 percent controlled by his wife, Chen Chunmei. The valuation was updated on Nov. 20, 2017 to account for share sales during the third quarter of 2017 and this led to a decrease of about $700 million in the net wealth calculation.

The couple also has stakes in closely held technology companies, including security software maker Watchdata Technologies. Those investments weren't included in the net worth calculation because financial details aren't disclosed.

He's collected more than 2 billion yuan ($300 million) in dividends through December 2017, according to company filings and an analysis of Bloomberg data. The value of his cash investments is based on an analysis of these proceeds as well as insider transactions, taxes and market performance.

Zhan Junhua, a Hikvision spokesperson, declined to comment on Gong's net worth.

Biography

Birthdate: 1965
Family: Married, 2 children
Education: 1986, Huazhong University of Science & Technology, Graduated

Gong Hongjia was born in Zhejiang, a province in eastern China, in 1965. In school, he often chose literature over science and showed little interest in technology, according to the China's Tycoons report by HSBC. Gong graduated in 1986 with a computer science degree from Huazhong University of Science and Technology, where he met his wife, Chen Chunmei.

After graduation, he worked as an agent selling electronic products in China's southern city of Guangzhou and Hong Kong before he moved to the then-British colony in 1992. The billionaire co-founded his first company, Tecsun Radio, in 1994. It became China's largest radio producer by selling cheaper equipment to younger consumers, breaking the dominance of Japanese manufacturers, the HSBC report said. Known as "China's best angel investor," Gong and his wife have created or invested in at least 15 companies, most of which are in the technology field, according to the report.

Gong is the largest individual shareholder of publicly traded Hikvision, China's biggest maker of video surveillance products. He's also chairman of closely held Funinhand Electronic Technology, a mobile Internet company that helps users compress video for wireless handsets.

Gong and Chen live in Hong Kong and have two daughters.

Milestones
  • 1965 Gong Hongjia is born in Zhejiang, China.
  • 1986 Graduates from Huazhong University of Science and Technology.
  • 1992 Immigrates to Hong Kong, a then-British colony.
  • 1994 Jointly sets up Tecsun Radio.
  • 1998 AsiaInfo buys Gong's Dekang Technology.
  • 2001 Sets up Hikvision.
  • 2002 Establishes Funinhand Technology.
  • 2013 Hikvision collaborates with Bosch on integration solution.