Chinese Cookie Tycoon Gains $1.2 Billion in Taking Firm Private
- Shares of Dali Foods soared after billionaire proposed buyout
- Founder Xu Shihui’s fortune has risen to $7.3 billion
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The founder of a Chinese cookie maker has gotten richer with a proposal to take the Hong Kong-listed firm private.
Xu Shihui, chairman of Dali Foods Group Co., has seen his fortune soar by $1.2 billion to $7.3 billion on paper, after a 29% surge in shares following his offer last week, according to the Bloomberg Billionaires Index.