Xia is a director of BYD, a Chinese maker of electric cars. The Shenzhen-based company employs more than 288,000 people and reported revenue of 211 billion yuan ($32.8 billion) in 2021. Aside from cars and buses, it also makes rechargeable and nickel-cadmium batteries for use in mobile phones.
Xia Zuoquan's net worth of $5.01B can buy ...
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The majority of Xia's fortune is derived from a 4.6% stake in BYD, a Shenzhen-based electric cars maker. The Shenzhen-based company employs about 288,000 people and had revenue of 211 billion yuan ($32.8 billion) in 2021.
He holds the shares directly, according to the company's 2022 first-quarter report.
The value of his cash is based on an analysis of historical transactions, stock performance, dividend history and tax.
Mia Gu, a spokeswoman for the company, declined to comment on the net worth calculation.
Xia was born in 1963. He studied computer science at the Beijing Institute of Iron and Steel Engineering from 1985 to 1987 and graduated from the Guanghua School of Management of Peking University in 2007.
Xia worked in the Hubei branch of The People’s Insurance Company and joined BYD Battery in 1997. He held different positions until becoming a member of the board.
Berkshire Hathaway bought a 10% stake in BYD in 2008 and the company started public trading in Shenzhen three years later.