Bloomberg Billionaires Index

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#313 Nie Tengyun $5.67B

Random fact: Recruited to join the delivery business of his brother Nie Tengfei.

Overview

Nie is the founder and chairman of Shanghai Yunda Express, a delivery company with revenue of 7.3 billion yuan ($1.1 billion) in 2016. The Shanghai-based publicly traded business has more than 20,000 vehicles and delivers about 3 billion packages a year. It began trading on the Shenzhen Stock Exchange in December 2016.

As of Oct. 17, 2017:
Last change -$248M (-4.2%)
YTD change +$490M (+9.4%)
Industry Services
Biggest asset 002120 CH Equity
Citizenship China
Age 41
Wealth Self-made
View net worth over:   Max 1 year 1 quarter 1 month 1 week

Relative Value

Nie Tengyun's net worth of $5.67B 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
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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
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 Nie's fortune is derived from his 68 percent stake in Shanghai Yunda Express, according to its 2017 first-quarter report. The company began trading on the Shenzhen Stock Exchange as Yunda Holding in December 2016 through a reverse merger with Ningbo Xinhai Electric. The Shanghai-based business has more than 20,000 vehicles and handled 3.2 billion packages in 2016, according to its annual report.

Nie holds his stake directly, and through Shanghai-based holding companies Luojiesi Investment Management and Fengke Investment Management, as well as Yunke Investment Management and Yunjia Investment Management, which are both based in Tonglu. He's also credited with the shares held by his wife and parents to reflect his status as founder and chairman.

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

Nie declined to comment on his net worth, according to a Yunda spokesman.

Biography

Birthdate: 1/1976
Family: Married, No children

Nie Tengyun was born in 1976 in Tonglu, a county in eastern China near Hangzhou, the home of e-commerce giant Alibaba Group. 

While he was still studying at a business vocational school, his brother, Tengfei, founded STO Express with a friend in 1993. The express delivery company initially had to operate in China's gray market because the industry was restricted to state-owned China Postal Express and Logistics, a unit of China Post Group. After graduation, Nie helped out at STO, while working as a salesman for a local brewery. By offering a faster service than China Post, STO's business took off, so Nie quit his job to join the company full time in 1994.

After his brother was killed in a car accident in 1998, Nie decided to start his own courier company, leaving STO to his sister-in-law. He formed Yunda Express a year later with a 17-person office in Shanghai. The company began providing its delivery service to Taobao, Alibaba’s online marketplace, in 2007, and the business took off. Two years later, Yunda began operating outside of mainland China by opening offices in Taiwan and Hong Kong.

Yunda has more than 28,400 vehicles, handled 2.1 billion parcels and had revenue of $778 million in 2015, according to its reverse merger filing dated Aug. 20, 2016. The business began trading on the Shenzhen Stock Exchange through a reverse takeover of Ningbo Xinhai Electric in December 2016.

The billionaire lives in Shanghai with his family. In memory of his later brother, he and his father built a bridge in their home village.

Milestones
  • 1976 Nie is born in Tonglu county in Zhejiang province.
  • 1993 Brother starts STO to deliver documents for trading companies.
  • 1998 Brother dies in a car accident, leaving the delivery business to his family.
  • 1999 Leaves STO to establish Yunda.
  • 2007 Begins delivering parcels for Alibaba's e-commerce site Taobao.
  • 2009 Starts delivery services in Hong Kong and Taiwan.
  • 2010 Granted a license for air cargo transportation.
  • 2016 Begins trading on the Shenzhen Stock Exchange.