Bloomberg Billionaires Index

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

#131 Li Shu Fu $11.1B

Random fact: Started his business in 1984 with 2,000 yuan from his father.

Overview

Li is the founder and largest shareholder of Geely Automobile, a maker of cars and related components. The Hangzhou-based company made the biggest acquisition of a foreign carmaker by a Chinese company when it bought Volvo for $1.5 billion in 2010. It had revenue of 53.8 billion yuan ($8.1 billion) in 2016.

As of Oct. 17, 2017:
Last change -$144M (-1.3%)
YTD change +$7.98B (+256.7%)
Industry Industrial
Biggest asset 175 HK Equity
Citizenship China
Age 54
Wealth Self-made
View net worth over:   Max 1 year 1 quarter 1 month 1 week

Relative Value

Li Shu Fu's net worth of $11.1B can buy ...

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of the total wealth of the 500 richest people in the world
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of the top 100 U.S. college endowments
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of the top 200 U.S. executives’ total awarded compensation
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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 Li's fortune is derived from his 37 percent stake in publicly traded Geely Automobile, which manufactures and sells cars and related components. He controls the shares through British Virgin Islands-based Proper Glory Holding, according to a May 18, 2017 Hong Kong stock exchange filing.

The billionaire also owns 4 percent of the shares in publicly traded investment company Honbridge Holdings directly and through Hangzhou, China-based Zhejiang Geely Holding Group, according to the company's 2017 first quarter report.

Geely did not reply to e-mails requesting comment on Li's net worth.

Biography

Birthdate: 6/25/1963
Family: Married, 2 children
Education: Master's Degree, Engineering, Yanshan University Bachelor's Degree, Harbin Polytechnical University

Li was born in June 1963 in Taizhou, Zhejiang province. At age 19, he used 100 yuan ($16) his father had given him to buy a camera and start a photography business taking photos of tourists. Later, he set up his own studio to sell handmade camera accessories. The billionaire graduated from Yanshan University with a master's degree in engineering. He founded Geely as a refrigerator parts company in 1986. Geely, which means "lucky" in Chinese, began producing motorcycles eight years later, after Li acquired a bankrupt state-owned manufacturer. Geely became China's first private carmaker in 1997, according to its website. The company's first model, the Haoqing SRV, rolled off its production line a year later. Geely expanded rapidly in the years that followed, selling more than 600,000 motorcycles and 150,000 cars by 2000. The company had its initial public offering on the Hong Kong Stock Exchange in 2005.

Li's profile rose significantly with Geely's purchase of Sweden-based Volvo Cars from Ford Motor Co. for $1.5 billion in 2010, after nearly two years of talks.

Milestones
  • 1986 Started Geely as a maker of refrigerator parts.
  • 1994 Geely produces its first motorcycle.
  • 1997 Announces Geely's entrance into the car industry.
  • 1998 Geely unveils its first car, the Haoqing SRV.
  • 2000 Sets up a private university, Beijing Geely.
  • 2002 Becomes one of China's top 10 carmakers.
  • 2005 Geely begins trading on the Hong Kong Stock Exchange.
  • 2010 Completes buyout of Volvo from Ford.