Bloomberg Billionaires Index

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

#503 Benjamin Pan $4.17B

Random fact: AAC's Chairman Koh Boon Hwee previously led Singapore Airlines, DBS Group.

Overview

Pan is chief executive officer of AAC Technologies, a producer of miniaturized speakers and receivers for mobile phones. He co-founded the business with his billionaire wife, Ingrid Wu, in 1993. The publicly traded company's customers include Apple and Samsung, and had sales of 15.5 billion yuan ($2.3 billion) in 2016.

As of Nov. 20, 2017:
Last change -$5.44M (-0.1%)
YTD change +$2.34B (+127.8%)
Industry Technology
Biggest asset 2018 HK Equity
Citizenship United States
Age 49
Wealth Self-made
View net worth over:   Max 1 year 1 quarter 1 month 1 week

Relative Value

Benjamin Pan's net worth of $4.17B 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 Pan's wealth is derived from his 14 percent stake in AAC Technologies Holdings, a producer of miniaturized speakers and receivers for mobile phones. Pan owns 10 percent of the Shenzhen-based company directly and through Cayman Islands-based Silver Island. He's also credited with half of his children's 9 percent stake because he shares the interest with his wife, Wu Chunyuan, who's also a billionaire.

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

Antonio Yu, an external media representative for AAC, declined to comment on the billionaire's net worth.

Biography

Birthdate: 1967
Family: Married, 2 children
Education: 1987, Wujin Teacher School, Graduated

Pan Zhengmin, or Benjamin Pan, was born in 1967 in China's eastern province of Jiangsu. His father, Pan Zhonglai, started a business in the late 1980s making components for small electrical devices, such as toys and alarms. Pan along with his father and wife, Wu Chunyuan, founded Shenzhen Yuanyu, the predecessor of AAC Technologies Holdings.

The manufacturer of miniature acoustic components was established in 1993 in China's southern city of Shenzhen, just across the border from neighboring Hong Kong. Three years later, Pan decided to expand to the U.S. market and signed a supply contract with its first major overseas client, Motorola.

AAC set up its German branch to expand its sales to European clients in 2000. The company now receives more than half of its sales from Apple and Samsung, according to data compiled by Bloomberg. Pan's wife, Wu Chunyuan, stepped down from running the daily operations of AAC in 2005, after Du Kuang-Yang was hired as the chief operating officer. The company went public in Hong Kong the same year.

Pan graduated from the Jiangsu Province Wujin Teacher School in 1987.

Milestones
  • 1967 Pan Zhengmin is born in eastern China's Jiangsu.
  • 1987 Graduates from a hometown teacher's college.
  • 1993 Founds AAC predecessor audio device maker Yuanyu in Shenzhen.
  • 1996 Expands business into the U.S.
  • 1998 AAC Tech begins production of cellphones handsets.
  • 2000 Establishes Changzhou AAC.
  • 2001 Sets up YEC Electronics in Hong Kong to manage overseas distribution.
  • 2004 AAC Tech starts making speakers for cellphones.
  • 2005 Lists on the Hong Kong Stock Exchange.