Jifeng Auto’s Wang Becomes Billionaire as Shares Rise to RecordSterling Wong and Pei Yi Mak
Wang Yiping, Ningbo Jifeng Auto Parts Co.’s chairman, became a billionaire as the maker of parts for car seats and other vehicle components climbed to a record.
Wang, 54, owns about 73 percent of the Ningbo-based company together with his wife and son. He has a fortune valued at $1 billion, according to the Bloomberg Billionaires Index. The stock climbed 6.3 percent to 20.4 yuan ($3.28) at the Shanghai close, the highest since it went public more than a month ago.