Bloomberg Billionaires Index

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#223 Xu Shihui $7.03B

Random fact: Daughter Xu Yangyang is a vice president at Dali.

Overview

Xu is the chief executive officer and biggest shareholder of Dali Foods Group, the largest producer of breads, cakes and pastries in China. The publicly traded company reported revenue of 17.8 billion yuan ($2.7 billion) in 2016. It employs more than 35,000 people and has 18 subsidiaries in 16 provinces.

As of July 23, 2017:
Last change +$120M (+1.7%)
YTD change +$971M (+16.0%)
Industry Food & Beverage
Biggest asset 3799 HK Equity
Citizenship China
Age 58
Wealth Self-made
View net worth over:   Max 1 year 1 quarter 1 month 1 week

Relative Value

Xu Shihui's net worth of $7.03B 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 Xu's fortune is derived from his stake in Dali Foods Group, a publicly traded food and beverage maker. Xu and his family own 85 percent of the company, according to its 2016 annual report.

Xu holds 43 percent of Dali through British Virgin Islands-based holding company Divine Foods 1. His wife holds 8.5 percent and his daughter has 34 percent through their own holding companies, Divine Foods 2 and Divine Foods 3. Xu is credited with the entire 85 percent stake to reflect his status as founder of the company and the fact he retains strategic and operational control of the business.

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

Andrew Fan, spokesman of Daili Foods, confirmed the share count but declined to comment on the billionaire's net worth.

Biography

Birthdate: 1958
Family: Married, 2 children

Xu Shihui was born in China's Fujian province in 1958. He did not attend college. Xu worked as head of the Hui'an Succade Factory from 1987 to 1989, according to the Dali Foods Group 2015 annual report.

Xu started his food company Hui'an Meili Minzheng Food Factory in 1989, and three years later was elected to be the legal representative of Meili Food, which he and family members bought in 2000. Xu expanded the business to cover six categories, including pastries, herbal teas and energy drinks. Dali is the largest producer of breads, cakes and pastries in China, according to its IPO prospectus. The company began trading on the Hong Kong stock exchange in November 2015.

Xu's daughter, Xu Yangyang, is a vice president and executive director at Dali Foods Group. His son, Xu Liangliang, died in a car accident in 2012 at age 27.

Milestones
  • 1958 Born in Fujian province, China.
  • 1987 Becomes director of Hui'an Candy Factory.
  • 1989 Starts his food company Hui'an Meili Minzheng Food Factory.
  • 1997 Changes company name to Dali Foods Group.
  • 2012 Son dies in a car accident.
  • 2015 Daughter graduates from Xiamen University.
  • 2015 Introduces its Daliyuan baked pastry and food brand.
  • 2015 Dali Foods Group begins trading in Hong Kong.