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#152 Wu Shaoxun $9.60B

Random fact: Jing, the company's name, means power and vigor in Chinese.


Wu is chairman of Hubei Jing Brand, China's largest producer of herbal spirits. The Daye, China-based company was founded as a state-owned liquor manufacturer in 1953. It became closely held when Wu bought it from the local government in 1998. The company reported revenue of 9.2 billion yuan ($1.3 billion) in 2016.

As of June 18, 2018:
Last change -$4.95M (-0.1%)
YTD change +$1.04B (+12.1%)
Industry Food & Beverage
Biggest asset Hubei Jing Brand
Citizenship China
Age 61
Wealth Self-made
View net worth over:   Max 1 year 1 quarter 1 month 1 week

Relative Value

Wu Shaoxun's net worth of $9.60B can buy ...

troy ounces of gold
barrels of crude oil

... and is equivalent to ...

of the GDP of the United States
of the total wealth of the 500 richest people in the world
of the top 100 U.S. college endowments
of the top 200 U.S. executives’ total awarded compensation
of U.S. existing home sales
times the median U.S. household income

Latest News

Net Worth Summary

Private asset
Public asset
Misc. liabilities
Confidence rating:

The bulk of Wu's fortune is derived from Hubei Jing Brand, the largest herbal liquor maker in China, according to its website. He owns 99 percent of the company, according to company filings. 

The company had revenue of 9.2 billion yuan ($1.3 billion) in 2016, according to the company's website. It's valued using the average enterprise value-to-sales and price-to-earnings multiples of three publicly traded peer companies: Anhui Gujing Distillery, Xinjiang Yilite Industry and Jiangsu Yanghe Brewery.

The company didn't reply to emails and telephone calls seeking comment on the billionaire's net worth.


Birthdate: 1956
Family: Unknown, No children

Wu Shaoxun was born in China's central province of Hubei in 1956. At the age of 18, he joined the Chinese army and served for six years. After being discharged, Wu joined a state-owned spinning mill in his hometown of Daye and later became responsible for running the company.

A two-year stint studying at a local Communist Party school led to Wu being made chief of a heavily indebted state-owned spirit maker in 1987, despite knowing nothing about liquor manufacturing. Still, under his management the business became profitable. After introducing Chinese herbal medicines into its liquor, the company's signature product, Jing Liquor, became a popular drink among Chinese consumers.

When China started to reform its state-owned companies, Wu borrowed money to buy the business from Hubei's local government, accumulating a 99 percent stake, according to a government website.

Today the company has the largest market share in China's herbal liquor sector, selling more than 800 million bottles of spirits every year with revenue of 9.2 billion yuan ($1.3 billion) in 2016, according to its website.

  • 1956 Born in China's central province of Hubei.
  • 1974 Joins the Chinese army.
  • 1980 Leaves the army and works at a state-owned spinning mill.
  • 1987 Becomes head of the state-owned predecessor to Jing Brand.
  • 1989 Jing Liquor, its signature brand, is introduced.
  • 1998 Acquires the liquor maker from the local government.
  • 2001 Changes the company's name to Hubei Jing Brand Co.
  • 2002 Becomes member of National People's Congress in China.