BYD owner Wang Chuanfu named China’s richest man

Wang Chuanfu

According to Hurun Report’s annual Hurun China Rich List, Wang Chuanfu is China’s richest man. Chuanfu, founder and chairman of BYD (Build Your Dreams) Auto, has a personal fortune estimated at $5.1 billion.

American investor Warren Buffet, currently the world’s second richest man (correct me if I’m wrong), invested $230 million in BYD last year. The investment quintupled the value of BYD over the past 12 months. It was reported in August, that Warren Buffett earned a $1 billion profit from an investment made less than a year ago in Chinese automaker BYD.

Chuanfu, 43, founded BYD in 1995 and currently owns nearly 28 percent of the parent company. For those of you not familiar with BYD, the company makes the F3DM plug-in hybrid car and has its own lithium-ion battery technology. It is also the world’s largest manufacturer of cell-phone batteries.

Check out an interview with Wang Chuanfu after the jump.

– By: Omar Rana

Source: Inside Line
Photo Credit: Flickr