Bloomberg Billionaires Index

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#418 Yu Huijiao $4.54B

Random fact: Designed the lobby ceiling for YTO's Shanghai headquarters.

Overview

Yu is founder and chairman of YTO Express Group, a delivery company with revenue of 16.8 billion yuan ($2.5 billion) in 2016. The Shanghai-based business has more than 36,000 vehicles and handles about 4.5 billion packages a year. It began trading on the Shanghai Stock Exchange in 2016 after a reverse merger with Dalian Dayang Trands.

As of July 23, 2017:
Last change -$42.8M (-0.9%)
YTD change +$2.23B (+96.5%)
Industry Services
Biggest asset 600233 CH Equity
Citizenship China
Age 51
Wealth Self-made
View net worth over:   Max 1 year 1 quarter 1 month 1 week

Relative Value

Yu Huijiao's net worth of $4.54B 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:

Yu's fortune is derived from his 64 percent stake in Shanghai-based YTO Express Group, a parcel delivery company, according to its 2017 first quarter report. The Shanghai-based business has more than 36,000 vehicles and handled 4.5 billion packages in 2016, according to the company's annual report.

Yu owns his stake directly, and through his wife and six Shanghai-based holding companies. A liability is applied to reflect historical transactions, share purchases and other investments.

Wan Runlong, a spokesman for YTO, declined to comment on Yu's wealth.

Biography

Birthdate: 4/1966
Family: Married, No children

Yu Huijiao was born in 1966 in Tonglu, a county in eastern China near Hangzhou, the home of e-commerce giant Alibaba Group. After graduating from high school at age 19, he became a carpenter and worked in the home renovation business for about 15 years. 

Yu’s first business failed because he was unable to collect on the unpaid bills of his clients, according to an October 2016 story in China Entrepreneur Magazine. When he was 34, he decided to switch careers after seeing his relatives and friends make money by delivering packages. He founded YTO Express with 17 staff in Shanghai in 2000. 

Private couriers like YTO were often fined by regulators at the time because the express delivery industry was restricted to state-owned China Postal Express and Logistics, a unit of China Post Group. Still, many people were attracted to the industry as China Postal's expensive and slow service couldn’t meet the country’s rising demand.

YTO stood out from the competition when it became the first courier to deliver packages on weekends, which helped the company become profitable in 2003. Another turning point came in 2005, when Yu agreed to offer its service at a 30 percent discount on Taobao, the online marketplace operated by Alibaba. As China's parcel volume surged on the back of its e-commerce boom, the government finally granted legitimate status to private express companies a year later, and YTO’s business took off.

YTO has more than 32,000 vehicles and over 24,000 delivery stations that handle about 4.5 million parcels every day, and had revenue of $1.9 billion in 2015, according to its website. It began trading on the Shanghai Stock Exchange in October 2016 through a reverse takeover of garment manufacturer Dalian Dayang Trands.

The billionaire lives in Shanghai with his wife.

Milestones
  • 1966 Yu is born in Tonglu county in Zhejiang province.
  • 1984 Graduates from high school and works as a carpenter.
  • 1999 Quits home renovation business because of unpaid customer bills.
  • 2000 Sets up YTO Express as a parcel delivery service.
  • 2005 Starts to offer its delivery service to Taobao at a discount.
  • 2009 Becomes vice-president of the China Express Association.
  • 2015 Alibaba's venture capital arm acquires a 12 percent stake in YTO.
  • 2016 Lists on the Shanghai Stock Exchange through a reverse merger.