Bloomberg Billionaires Index

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#493 Che Jianxing $3.97B

Random fact: Spent four years as an apprentice carpenter.

Overview

Che is a co-founder and chairman of Red Star Macalline Group, an operator of home decoration and furniture stores in China. The Shanghai-based business reported revenue of 9.3 billion yuan ($1.4 billion) in 2016. The group has more than 200 outlets across 150 cities and trades publicly in both Hong Kong and Shanghai.

As of June 24, 2018:
Last change -$36.8M (-0.9%)
YTD change +$272M (+7.4%)
Industry Consumer
Biggest asset 601828 CH Equity
Citizenship China
Age 51
Wealth Self-made
View net worth over:   Max 1 year 1 quarter 1 month 1 week

Relative Value

Che Jianxing's net worth of $3.97B 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 Che's fortune is derived from his 79 percent stake in Red Star Macalline, a publicly traded group of home decoration and furniture stores. The Shanghai-based company has more than 200 outlets across 150 cities, according to its website.

Che holds the shares through closely-held RSM Holdings, according to the company's prospectus in January 2018. About 20 percent of Che's shares are pledged and removed from the net worth calculation.

The value of the group's closely held division is calculated based on the 2016 consolidated financials of its parent company RSM Holding. The publicly traded company's financials are removed from this calculation to avoid double counting.

A liability is included to reflect the cost of investments and insider transactions. It's adjusted to account for dividends, taxes and market performance.

A company representative, who didn't disclose her name, declined to comment on the billionaire's net worth.

Biography

Birthdate: 6/1966
Family: Married, 2 children

Che was born in Changzhou, China in 1966. He began working as a carpenter at the age of 16. Four years later, he set up a workshop and began selling furniture.

In 1994, Che acquired land and built his first shopping mall. He developed a franchise model in 1998.

Red Star Macalline Group was incorporated in 2007, and the company began trading on the Hong Kong Stock Exchange in 2015, according to the company's website.

The company also began trading publicly in Shanghai following an IPO in January 2018.

Milestones
  • 1966 Born in Changzhou in the Jiangsu province in China.
  • 1986 Set up his furniture workshop after working as a carpenter for four years.
  • 1993 The company rented a factory to produce and sell furniture.
  • 1994 Purchased land and built his first shopping mall.
  • 1998 Developed the company's franchise business model.
  • 2014 Launced premium brand Ogloria for high-end consumers.
  • 2015 The company began trading on the Hong Kong Stock Exchange.
  • 2018 Began trading in Shanghai following an IPO.