Bloomberg Billionaires Index

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

#483 Frank Wang $3.97B

Random fact: Classmate Xie Jia sold his property to invest in DJI.

Overview

Wang is the founder and largest shareholder of SZ DJI Technology, the world's largest manufacturer of recreational drones. The Shenzhen, China-based company has more than 6,000 employees and offices in five countries including the U.S. and Germany. It had revenue of more than 10 billion yuan ($1.5 billion) in 2016.

As of July 26, 2017:
Last change No change
YTD change No change
Industry Technology
Biggest asset SZ DJI Technology Co Ltd
Citizenship China
Age 36
Wealth Self-made
View net worth over:   Max 1 year 1 quarter 1 month 1 week

Relative Value

Frank Wang's net worth of $3.97B 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
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of the top 200 U.S. executives’ total awarded compensation
0%
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 Wang's wealth is derived from his 50 percent stake in SZ DJI Technology, the world's largest maker of recreational drones. He owns his stake through British Virgin Islands-based DJI Company Limited, according to filings from the Hong Kong Companies Registry.

The business had revenue of more than 10 billion yuan ($1.5 billion) billion in 2016, according to the South China Morning Post. It was valued at $8 billion in a May 2015 funding round in which the company sold about 1 percent to Accel Partners for $75 million.

Kevin On, spokesperson of the company, didn't response to the request to comment on Wang's net worth.

Biography

Birthdate: 1980
Family: Unknown, No children

Wang was born in 1980 to a teacher's family in Hangzhou, Jiangsu province. His passion for flight began in elementary school when he started reading books about aerospace and airplanes. He dropped out of East China Normal University in his junior year because he thought the university was too focused on social science instead of technology. He then applied to the Hong Kong University of Science and Technology and studied electronic engineering there.

He built the first unmanned aerial vehicle in his dorm room in 2006 and started his company in the Chinese city of Shenzhen in the same year. During the first few years of operation the business survived by using capital from Wang's friends Lu Di and Xie Jia, who now control 16 percent and 14 percent of the company respectively.

DJI has made Wang the first billionaire to emerge from the drones industry.

Milestones
  • 1980 Wang Tao is born in Hangzhou, China.
  • 2002 Drops out of East China Normal University.
  • 2003 Studies computer science at Hong Kong University of Science and Technology.
  • 2006 Starts DJI Technology in Shenzhen.
  • 2010 His alma mater invests HK$200 million in DJI.
  • 2014 Sequoia Capital invests $30 million in DJI.
  • 2014 DJI releases its best-selling drone "Phantom."
  • 2015 Raises $75 million from Accel Partners.