⬅ # 395 Viktor Kharitonin|# 397 Rakesh Mittal

# 396 Chen Jianhua 

$6.94B

Real Time Net Worth
as of 7/12/2024
-$176.3M (-2.54%)

# 396 Chen Jianhua 

$6.94B

Real Time Net Worth
as of 7/12/2024
-$176.3M (-2.54%)
OccupationChair, Hengli Group
Source of WealthChemicals
Age53
ResidenceSuzhou, China
Marital StatusMarried
Children1
EducationBS, Nanjing Normal University
Age-Adjusted Net Worth$11.1B
Chen Jianhua
Chen Jianhua
China
Net worth: $6.94B

Self-Made Score 

Wealth History

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Biography

Overview

Chen Jianhua, born in March 1956 in Lufeng, Guangdong, is a Chinese billionaire and politician.
He chairs Hengli Group, one of China's largest petrochemical businesses, founded in 1994 as a weaving factory.
Chen's wife, Fan Hongwei, chairs the group's listed arm, Hengli Petrochemical.
Despite being born into poverty, Chen quit school at 13, later venturing into textile trading.
He acquired a state-owned chemical fiber factory and expanded into petrochemicals, leading to his immense wealth.
Chen Jianhua served as Mayor of Guangzhou and Chairman of the Guangzhou People's Congress.

Family and Business Ventures

Chen's daughter, Chen Yiting, held a directorial position at Hengli's tourism arm, Suzhou Wujiang Tongli Lake travel.
His wife, Fan Hongwei, shares his entrepreneurial spirit and chairs Hengli Petrochemical.
Hengli Group, co-founded by Chen and Fan in 1994, operates in oil refining, petrochemicals, and textiles.
The company holds the title of operating the world's largest terephthalic acid (PTA) factory.
Despite facing criticism, Hengli Group continues to expand and innovate in its industry sectors.
The conglomerate was ranked 67th in the Fortune Global 500 for 2021, illustrating its immense scale and influence.

Political Career and Leadership

Chen Jianhua transitioned into politics, serving as Secretary to Guangdong party chief Xie Fei.
He held various positions within the Guangzhou municipal Party Standing Committee.
Chen's political career culminated in his appointment as Mayor of Guangzhou in 2011.
In 2016, he was elected Chairman of the Standing Committee of the Guangzhou People's Congress.
His political and business leadership roles demonstrate a multifaceted approach to public service and enterprise management.
Chen's tenure as Mayor and subsequent roles underscore his influence in both political and economic spheres.

How long would it take you to become as rich as Chen Jianhua?

If you started with $10,000 and invested an additional $500 each month at a 44.15% CAGR, it would take you 5 years to reach Chen Jianhua's net worth of $6.94B.

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 51.86% compared to 19.03% for the S&P 500 benchmark.

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Chen Jianhua 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 Chen Jianhua, Chemicals 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