Bloomberg Billionaires Index

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#96 Yeung Kin-Man $13.0B

Random fact: Isn't religious, but doesn't deny the existence of higher beings.

Overview

Yeung is chairman of Biel Crystal Manufactory, a closely held supplier of mobile phone touch screens. The Hong Kong-based business makes glass covers for smartphones and watches, and supplies Apple, Samsung, LG and other device makers. It has more than 120,000 employees and had revenue of $4.6 billion in 2015.

As of Oct. 17, 2017:
Last change +$32.8M (+0.3%)
YTD change +$977M (+8.2%)
Industry Technology
Biggest asset Biel Crystal Manufactory (HK)
Citizenship Hong Kong
Wealth Self-made
View net worth over:   Max 1 year 1 quarter 1 month 1 week

Relative Value

Yeung Kin-Man's net worth of $13.0B 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
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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 Yeung's fortune is derived from his control of Biel Crystal Manufactory, a supplier of glass touch screens for smartphone makers such as Apple, Samsung and LG. Biel has 120,000 employees, according to its website.

He owns Biel with Lam Wai Ying, according to corporate filings with the Hong Kong Companies Registry. The two are identified as husband and wife on a local government website for the Chinese city of Huizhou, where Biel has a factory. Yeung owns 51 percent of the business and Ying has 49 percent, according to the filings. The entire family fortune is credited to Yeung to reflect his status as Biel’s founder and chief executive officer.

Biel Crystal had revenue of $3.2 billion in 2013, Yeung said in a speech at the company's 2014 Chinese New Year celebration. Revenue rose to $4.6 billion in 2015, according to a January 2016 report from National Business Daily. The company is valued using 2015 revenue and the price-to-earnings multiple of one publicly traded peer: Lens Technology. A liquidity discount of 30 percent is applied to account for the limited information about Biel's financial results and the fact that only one peer company is used for comparison.

Biel Crystal did not respond to requests for comment on Yeung's net worth.

Biography

Birthdate:
Family: Married, 3 children

Yeung Kin-Man was born and bred in Hong Kong. He ventured into entrepreneurship without obtaining a university degree, starting a company manufacturing watch glass in the 1980s.

His company, Biel Crystal, began producing smartphone cover glass in 2003 after receiving its first order for 1 million screens from Motorola. Biel Crystal became a cover-glass supplier to Apple in 2007 when the company introduced the iPhone.

The company now has more than 1.2 million square meters of production space at its China manufacturing facilities, and employs more than 100,000 workers.

Milestones
  • 1988 Opens first factory in Shenzhen producing watch glass.
  • 1998 Company acquires ISO 9002 Certification.
  • 2001 Starts mass production of phone cover glass.
  • 2003 Starts producing cover glass for Motorola's Razr phones.
  • 2007 Becomes cover-glass supplier for Apple's Iphone.
  • 2008 Starts producing Notebook Cover Glass.
  • 2014 Launches joint venture with Roshow Technology to produce sapphire products.
  • 2015 Donates HK$200 million to City University of Hong Kong.
  • 2017 Bought mansion in exclusive Peak neighborhood for $360 million