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Friday, 3 March 2017

EFIWE GISTS: Delivery Boy Becomes The Third Richest Man In China

A few decades ago Wang Wei was personally lugging suitcases and backpacks across China’s southern border, trying to make his fledgling Hong Kong-based courier business a success.

This week he became China’s third-richest man, thanks to his newly listed company doing well on the Shenzhen Stock Exchange after completing its back-door listing last week Friday. As of March 2, the chairman of Shenzhen-based SF Express had a net worth of $27.6 billion.

That puts him behind only property tycoon Wang Jianlin and Alibaba’s Jack Ma on the list of China’s richest individuals. Wang, 46, founded the courier in 1993 and owns a 68% stake.

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