Aska Liu for Forbes Asia
This story is part of Forbes' coverage of China’s Richest 2020. See the full list here.
Wang Chuanfu, the chairman of electric vehicle maker BYD, has continued to enjoy success since gracing the cover of Forbes Asia in 2017.
His company’s Hong Kong-traded shares have tripled in the past year to a record, lifting Wang’s fortune to $11.4 billion. BYD, whose top investors include Warren Buffett’s Berkshire Hathaway, sealed two noteworthy deals in the past year with Japanese counterparts, including a joint venture to develop EVs with Toyota and another with Toyota’s listed truck subsidiary Hino Motors.
BYD also vaulted another executive back into the ranks of 100 wealthiest this year: Wang’s cousin and BYD cofounder, vice chairman Lu Xiangyang, climbs onto the list this year with a $6.49 billion fortune.
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November 12, 2020 at 04:26AM
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BYD's Shares Join Global Boom For EV Makers And Triple In Price - Forbes
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