Zhang is a former chairman of Xinfa Group, China's third-largest producer of aluminium oxide. The Liaocheng, Shandong-based company owns power stations, aluminum refineries and an aluminum smelter. Xinfa Group is closely held and reported revenue of 302.9 billion yuan ($42.1 billion) in 2024.
Zhang's wealth is derived from his stake in Xinfa Group, an aluminum producer.
Xinfa Group is China's third-largest producer of aluminium oxide, according to a March 2024 report on the Shanghai Metals Market website. It had revenue of 302.9 billion yuan ($42.1 billion) and net income of 25.2 billion yuan in 2024, according to a company recruitment announcement.
Zhang and his family own at least 70.6% of Xinfa Group, according to a Chinese data provider Qichacha. All of the family's shares are attributed to Zhang in this analysis to reflect his role in building the business and status as family patriarch.
Xinfa Group is valued using reported financial results and the average price-to-earnings multiple of four publicly traded peers: China Hongqiao Group Ltd, Shandong Nanshan Aluminum Co Ltd, Xinjiang Joinworld Co Ltd and Aluminum Corp of China Ltd.
A spokesperson for Xinfa Group didn't respond to a request for comment on the net worth calculation.
Zhang Xuexin was born in Liaocheng, China in 1947.
He was one of the first employees to be hired at Chiping County Power Plant after it was set-up as a state-owned utility in 1972.
Zhang's career received a boost in 1986 when he was appointed as plant director. Further advancement at the power plant led to him assuming the roll as chairman in 1998.
The company expanded into the aluminium sector in 2007. This led to the decision to reorganize the company into the Xinfa Group.
The billionaire's son, Zhang Gang, took over as chairman in 2015.
By 2023, the group's revenue had reached more than 290 billion yuan ($40 billion).