Bloomberg Billionaires Index

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#377 Wei Jian Jun $4.68B

Random fact: Loved car racing in his 20s and performed drifting at an airport.

Overview

Wei is the chairman of publicly traded Great Wall Motor, the biggest manufacturer of sport utility vehicles and pickup trucks in China. The Baoding-based business began exporting vehicles in 1998 and started trading on the Hong Kong Stock Exchange in 2003. The company had revenue of 94.8 billion yuan ($14.3 billion) in 2016.

As of May 30, 2017:
Last change +$13.4M (+0.3%)
YTD change -$41.7M (-0.9%)
Industry Consumer
Biggest asset 601633 CH Equity
Citizenship China
Age 52
Wealth Self-made
View net worth over:   Max 1 year 1 quarter 1 month 1 week

Relative Value

Wei Jian Jun's net worth of $4.68B 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 Wei's wealth is derived from his 53 percent stake in the class A shares of publicly traded Great Wall Motor, China's largest sports utility vehicle (SUV) and pickup manufacturer, according to the company's 2017 first quarter report and a March 7, 2017 Hong Kong Stock Exchange filing.

He controls the shares through his 63 percent stake in closely held Baoding Innovation Great Wall Asset Management, according to a December 2016 Shanghai stock exchange filing. About 714 million of Wei's shares are pledged as security for a line of credit and are excluded from the calculation.

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

A Great Wall spokesman, Li, declined to comment on the billionaire's net worth.

Biography

Birthdate: 1964
Family: Married, No children
Education: 1999, Graduated, Hebei University Committee

Wei Jianjun was born in 1964 in Beijing, and later moved to the city of Baoding in China's Hebei province with his family. After working at several factories, Wei signed a contract at age 26 with the local government to take charge of Great Wall Industry, a debt-laden auto customization company with 60 employees, and turned it into a van-maker.

He decided to begin making pickup trucks after witnessing the popularity of the truck model during a business trip to Thailand in 1995. The pickup and van market in China was neglected by major automakers, and therefore was less competitive than that for cars. Great Wall's pickup business soon flourished as small business owners and farmers in rural areas bought the new products. Great Wall's Deer brand pickups became a market leader in China by 1998.

Laws in the 1990s prevented pickup trucks access to travel in most major Chinese cities. To thwart that restriction, Wei decided to use the same truck chassis and transformed his pickup factory line to make sport utility vehicles instead. He sold the SUVs at a price that was less than half the price of imports in 2002. Great Wall's SUVs have since beaten foreign brands with its lower price and comparable quality. Its Haval model is the best-selling SUV in China.

In 2003, Great Wall became the first closely held Chinese automaker to sell shares on the Hong Kong Stock Exchange, raising $195 million. The company was listed in Shanghai Stock Exchange in 2011. Wei's goal for Great Wall is to grow the company to become the world's largest maker of fuel-efficient SUVs and pickups by 2017.

Milestones
  • 1964 Wei Jianjun is born in Beijing.
  • 1984 Great Wall Motors is established in Hebei, China.
  • 1990 Enters contract to remake Great Wall into a truckmaker.
  • 1991 Pickup trucks and vans added to Great Wall product line.
  • 1998 Sales of Great Wall pickups ranks No. 1 in China.
  • 1999 Finishes management studies at a Communist Party college.
  • 2002 Company distributes Safe, the first domestic economy SUV model.
  • 2003 Becomes the first Chinese private automaker to list in Hong Kong.
  • 2007 Production rate hits 200,000 cars per year.
  • 2012 Auto production strats at Great Wall plant in Bulgaria.