Bloomberg Billionaires Index

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# 138 Li Zhenguo $12.8B

Random fact: Donated 125 million yuan to set up a scholarship in the company's name.

Overview

Li is the founder of Longi Green Energy Technology, the world's biggest maker of solar panel components. The Xi'an, China-based business produces silicon products for use in panels and had revenue of 80.9 billion yuan ($12.5 billion) in 2021. It supplies about one-quarter of the world's solar modules and wafers.

As of :
Last change -$346M ( -2.6%)
YTD change -$571M ( -4.3%)
Biggest asset 601012 CH Equity
Country / Region China
Age 54
Industry Energy
View net worth over:   Max 1 year 1 quarter 1 month 1 week

Relative Value

Li Zhenguo's net worth of $12.8B 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:

Li's wealth is derived from his 19% stake in Longi Green Energy Technology, a solar panel company. The Xi'an, China-based business is the world's biggest producer of solar wafers meeting about one-quarter of the world's demand, according to its website.

Li owns the shares directly and with his wife, according to the company's 2022 first-quarter report. About 9% of his stake is pledged and removed from the net worth calculation. The valuation was updated on June 2, 2022 to reflect a reduction in the pledged share count and this led to an increase in the calculation of about $400 million.

A liability is included based on an analysis of insider transactions, dividends, taxes and market performance.

Feng Li, a spokesman for the company, declined to comment on the net worth calculation.

Biography

Birthdate: 5/1/1968
Family: Married, No children
Education: Lanzhou University

Li was born in May 1968. He studied physics in central China before graduating from Lanzhou University at the age of 22.

He began his career at a state-owned factory that made mono-crystalline silicon rods, according to an interview Li gave in 2019.

Li founded the predecessor of Longi in Xi'an, China in 2000. By 2007, it had built a silicon ingot facility with a 1000 tonne capacity, according to the company's website.

Longi started trading publicly trading in Shanghai in 2012. Lerri Solar was acquired in 2014.

The company was responsible for about one-quarter of the world's demand for solar modules and wafers in 2020.

Milestones
  • 2000 Longi is founded.
  • 2009 Completes a 350MW silicon slicing plant.
  • 2012 Starts trading publicly in Shanghai.
  • 2014 Wafer shipment exceeds 2GW.