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Grizzly Bulls’ Billionaires Index

⬅ # 581 Rick Caruso|# 583 Igor Kesaev ➡

# 582 Cao Renxian 

$5.51B

Real Time Net Worth
as of 7/1/2024
$95.4M (1.73%)

# 582 Cao Renxian 

$5.51B

Real Time Net Worth
as of 7/1/2024
$95.4M (1.73%)
OccupationChair, Sungrow Power Supply
Source of WealthPhotovoltaic Equipment
Age55
ResidenceHefei, China
Marital StatusMarried
Age-Adjusted Net Worth$7.72B
Cao Renxian
Cao Renxian
China
Net worth: $5.51B

Self-Made Score 

Wealth History

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Biography

Overview

Cao Renxian is the chairman of Sungrow Power Supply, a maker of solar PV inverters, power supplies, and wind power converters.
Cao taught at Hefei University of Technology from 1993 to 1998.
He founded Sungrow in 1997, leveraging his expertise gained from teaching and research.
Sungrow Power Supply Co., Ltd. listed on the Shenzhen Stock Exchange in 2011, marking a significant milestone for the company.

Career and Achievements

Sungrow Power Supply Co., Ltd. is the world's most bankable inverter brand, with over 405GW installed worldwide as of June 2023.
Founded in 1997 by University Professor Cao Renxian, Sungrow is a leader in the research and development of solar inverters.
Sungrow boasts the largest dedicated R&D team in the industry, representing 40% of the company's personnel.
The company offers a broad product portfolio, including PV inverter solutions, energy storage systems, floating PV plant solutions, NEV driving solutions, EV charging solutions, and renewable hydrogen production systems.
Sungrow's products power over 170+ countries worldwide, showcasing its global impact and reach.

Technical Expertise and Manufacturing

Sungrow possesses a dynamic technical R&D team, contributing to its status as an industry leader.
The company has invested in its own in-house testing center approved by SGS, CSA, and TÃœV Rheinland, ensuring high-quality standards.
Sungrow operates the world's largest inverter factory, with a global annual production capacity of 305 GW, including 25 GW outside China.
The company's extensive manufacturing capabilities underscore its commitment to meeting global demand for clean power conversion technology.
With a strong 27-year track record in the PV space, Sungrow continues to innovate and expand its offerings.

Mission and Vision

Offering a wide range of solutions and services, Sungrow is committed to providing clean power for all.
The company is steadfast in its efforts to become the global leader in clean power conversion technology, driving sustainability and environmental responsibility.
Sungrow's dedication to clean energy aligns with global efforts to combat climate change and promote renewable energy adoption.
Through its innovative solutions, Sungrow aims to contribute significantly to the transition towards a sustainable energy future.
The company's vision reflects a commitment to driving positive change and making clean energy accessible on a global scale.

How long would it take you to become as rich as Cao Renxian?

If you started with $10,000 and invested an additional $500 each month at a 44.06% CAGR, it would take you 5 years to reach Cao Renxian's net worth of $5.51B.

Is this realistic? It depends how closely the VIX-TA-Macro Advanced model performs to its history in the future. Since Grizzly Bulls launched on January 1, 2022, it's returned 48.24% compared to 16.19% for the S&P 500 benchmark.

Enter data in all but one field below, then calculate the missing value

Cao Renxian is very wealthy, but what's stopping you from reaching that same level of success? As summarized in our five fundamental rules to wealth building, becoming wealthy in a modern capitalist economy is not complicated. There's actually only three variables:

  1. Your starting capital
  2. Your earnings after expenses
  3. The compound annual growth rate (CAGR) of your savings

Most people start with zero or very little, so if you weren't born into wealth, don't fret! The majority of the fortunate folks listed in our Grizzly Bulls’ Billionaires Index came from middle class or lower backgrounds. The most distinguishing characteristic of the group is their ability to consistently earn a high CAGR on their savings.

Every billionaire has a unique strategy to achieve high CAGR. For Cao Renxian, Photovoltaic Equipment is the primary source. Whether you choose to invest your savings in your own businesses or the businesses of others is not as important. The salient piece of the puzzle is ensuring that your hard-earned savings are generating sufficient CAGR to reach your long term goals.

Most people simply invest their money in index funds and call it a day. There's nothing wrong with this approach, but it guarantees relative mediocrity. To achieve greatness, you need to invest your money to earn higher than average returns. In the long run, better investors will always finish ahead of better earners.

Source: Grizzly Bulls reporting

Methodology: Grizzly Bulls' Billionaires Index is a daily ranking of the world's billionaires and richest people. Grizzly Bulls strives to provide the most accurate net worth calculations available. We pull data from public equity markets, SEC filings, public real estate records, and other reputable sources.

The index is dynamic and updates daily at the close of U.S. stock market trading based on changes in the markets, economy, and updates to Grizzly Bulls' proprietary algorithm of personal wealth calculation. Stakes in public companies are tracked daily based on the relevant closing prices of the underlying securities. Additionally, stakes in private companies, cash, real estate, and other less easily valued assets are updated periodically through careful analysis of insider transactions, comparable public company sales / EBITDA multiples, etc.

Edited by: Lee Bailey