Bloomberg Billionaires Index

View profiles for each of the world’s 500 richest people, see the biggest movers, and compare fortunes or track returns.

#248 Zhang Shiping $6.52B

Random fact: Investors include Li Ka-Shing, Cheng Yu-Tung and Joseph Lau.

Overview

Zhang is founder and chairman of China Hongqiao Group, the world's largest aluminum producer. The Shandong province-based company has an annual production capacity of more than 4 million tons, according to its website. He also controls Weiqiao Textile, the biggest manufacturer of cotton-textiles in China.

As of July 27, 2017:
Last change -$2.94M (-0.1%)
YTD change +$341M (+5.5%)
Industry Industrial
Biggest asset 1378 HK Equity
Citizenship China
Age 69
Wealth Self-made
View net worth over:   Max 1 year 1 quarter 1 month 1 week

Relative Value

Zhang Shiping's net worth of $6.52B 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 the Zhang's wealth is derived from his 81 percent stake in China Hongqiao Holdings, the world’s biggest maker of aluminum. The shares are held through British Virgin Islands-based Hongqiao Holdings, which is owned by Zhang.

He also controls a 32 percent stake in Weiqiao Textile, a publicly traded subsidiary of Shandong Weiqiao Pioneering Group, China's largest textile maker. His shares don't trade and are valued using the price of the publicly traded shares.

The rest of his closely held Shandong Weiqiao Pioneering Group, which includes mostly textile, as well as aluminum, power and chemical businesses, is valued using the price-to-earnings and enterprise value-to-sales multiples of its publicly traded subsidiary: Weiqiao Textile. Revenue of 48 billion yuan ($7.2 billion) in 2015 is derived by excluding the listed company's revenue from the total reported group revenue of 58 billion yuan.

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

Christine Wong, a spokesman for China Hongqiao, declined to comment on Zhang's net worth.

Biography

Birthdate: 1947
Family: Married, 3 children
Education: 12/1991, Anhui Finance & Trade College, Graduated

Zhang was born in Weiqiao in eastern China's Shandong province in 1947. When he was 19, he heeded Mao Zedong's call to work in the countryside during the Cultural Revolution, and became the head of a cotton factory in his hometown of Zouping in 1981.

Cotton textile makers usually halted their production when the crop was out of season, making it difficult for most of them to make ends meet for the entire year. Under Zhang, the factory processed cooking oil from soybeans and peanuts during slack periods when cotton was unavailable.

Zhang took over the factory in 1994, creating the predecessor of Weiqiao Textile. With the extra profit the company earned outside of cotton, it expanded capacity until it encountered a power shortage. At the time, China's electricity output lagged demand, especially in rural areas, and production was often forced to halt. Electricity bills also remained high. To address the problem, Zhang built a coal-fired power plant, allowing the cotton factory to grow with fewer interruptions. He sold Weiqiao Textile shares to the public in Hong Kong in 2003.

Zhang ventured into aluminum production and founded the predecessor of China Hongqiao in 2002. He raised $1.1 billion through an initial public offering in Hong Kong nine years later that attracted billionaires Li Ka-Shing, Cheng Yu-Tung and Joseph Lau as investors. Zhang and his wife, Zheng Shuliang, control about 85 percent of the company.

The billionaire handed over the daily operation of Weiqiao Textile to his daughters Zhang Hongxia and Zhang Yanhong in 2010. His son, Zhang Bo, is looking after the more profitable aluminum production business.

Milestones
  • 1947 Zhang Shiping is born in Weiqiao, Shandong province in east China.
  • 1981 Takes helm of a cotton factory in Zouping.
  • 1991 Receives a cotton testing degree from college.
  • 1994 Takes over a textile factory in Weiqiao.
  • 2003 Zhang family sells shares of Weiqiao Textile in a Hong Kong public offering.
  • 2006 Hands over Weiqiao to daughter Zhang Hongxia.
  • 2007 Weiqiao becomes the world's largest cotton yarn maker.
  • 2011 China Hongqiao sells shares through Hong Kong initial public offering.