Bloomberg Billionaires Index

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# 314 Wang Laisheng $6.93B

Random fact: Has a joint venture in Vietnam with Taiwan's Merry Electronics.

Overview

Wang is a co-founder and vice chairman of Luxshare Precision Industry, a maker of electronic cables in China. The Dongguan-based business provides connectivity and cabling for smartphones and as well as the cloud computing, automotive and medical industries. It had revenue of 92.5 billion yuan ($13.4 billion) in 2020.

As of :
Last change -$527M ( -7.1%)
YTD change -$3.69B ( -34.8%)
Biggest asset 002475 CH Equity
Country / Region China
Age 58
Industry Industrial
View net worth over:   Max 1 year 1 quarter 1 month 1 week

Relative Value

Wang Laisheng's net worth of $6.93B 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 Wang's fortune is from his 20% stake in Luxshare Precision Industry, a manufacturer of electronic cables and connectors in China.

Wang owns the stake through holding company Lixun, according to the company's 2021 semi-annual report. He owns the holding company with his sister, Wang Laichun, and each is credited with half of the shares held. He also owns 0.1% of the company's shares directly, according to the annual report. About 16% of the total shares are pledged and removed from the net worth calculation.

David Huang, a spokesman for the company, declined to comment on the net worth calculation.

Biography

Birthdate: 1/1/1964
Family: Unmarried, No children

Wang was born in 1964 and started his career in commercial trading in the 1980s. Hi sister, Wang Laichun, began working in the assembly department at Foxconn in 1988 and she left the company 10 years later to set-up her own business.

Wang and his sister acquired stakes in Hong Kong Luxshare in 1999 before acquiring the chairman and vice chairman roles in 2004. Hong Kong Luxshare later invested in a connector manufacturing business in mainland China, the predecessor of Luxshare Precision Industry, according to a January 2020 bond prospectus.

The company began trading publicly in Shenzhen in 2010.

Milestones
  • 1964 Wang Laisheng is born.
  • 2004 Luxshare is formally founded.
  • 2010 Company becomes publicly traded.
  • 2014 Luxshare-ICT Europe is established.