Wang is a co-founder of Zhongji Innolight, the world's largest maker of the transceivers used in high-speed data communications. The Longkou, Shandong-based company reported revenue of 23.9 billion yuan ($3.3 billion) in 2024. Wang's son, Xiaodong, is the executive vice president of Zhongji Innolight.
The majority of Wang's fortune is derived from his stake in Zhongji Innolight, an optical communications modules manufacturer. It is the world's largest transceiver producer, according to the company's 2024 annual report.
Wang owns a 16% stake directly, with his son and through holding company Zhongji Holding, according to the company's 2025 third-quarter report. His son's stake is credited to Wang to reflect his status as one of the company's founders. About 3% of his stake is pledged and excluded from the net worth calculation.
A liability is included based on an analysis of dividends, insider transactions, asset sales and taxes.
Wang Jun, a spokesperson for the company, didn't respond to a request for comment on the net worth calculation.
Wang was born in November 1950 and graduated during China's Cultural Revolution. In 1971, he started working in a repair shop of a People's Commune and then in a machinery tool factory.
Later on, Wang worked in an auto parts factory and became factory director in 1983. Four years later, as the demand for home appliances increased, the government contracted factories to produce domestic appliances. Wang founded Zhenhua Electrical Equipment Factory with 230,000 yuan ($61,600). A year later, the factory invented China's first mechanized washing machine assembly line.
In 1993, Wang was awarded with a special life-long allowance from the State Council in recognition of his invention. The factory was renamed to Shandong Zhongji Electrical Equipment in 1998. In 2012, Zhongji was listed on the Shenzhen stock exchange.
In 2017, Zhongji acquired Suzhou-based optimal communications modules manufacturer Innolight with a cost of 2.8 billion yuan ($412 million). Zhongji was subsequently renamed to Zhongji Innolight. Innolight's founder, Liu Sheng, became the listed company's chairman after Wang stepped-down in August 2023.