⬅ # 2055 Li Wanqiang|# 2057 Farkhad Akhmedov

# 2056 Chen Zhisong 

$1.56B

Real Time Net Worth
as of 5/27/2024
$34.0M (2.18%)

# 2056 Chen Zhisong 

$1.56B

Real Time Net Worth
as of 5/27/2024
$34.0M (2.18%)
OccupationCofounder, Ziff Brothers Investments
Source of WealthCommunication Equipment
Age58
ResidenceXiamen, China
EducationBS, Xiamen University
Age-Adjusted Net Worth$1.78B
Chen Zhisong
Chen Zhisong
China
Net worth: $1.56B

Wealth History

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Biography

Overview

Dirk Edward Ziff was born in 1965, the eldest son of publishing magnate William Bernard Ziff Jr. and grandson of William Bernard Ziff Sr.
He inherited a family fortune in 1994 alongside his brothers Robert and Daniel after their father sold 95% of Ziff Davis to Forstmann Little for $1.4 billion and retired.
Dirk Ziff graduated from the Trinity School in New York City in 1981, followed by earning a Bachelor of Arts from Columbia University in 1988 and a Master of Business Administration from Harvard University.
He is married to former Forbes magazine reporter Natasha Bacigalupo, and they have two children.
The couple resides in North Palm Beach, Florida, and owns a vacation home in Martha's Vineyard.
Dirk Ziff served on the board of The Weinstein Company until 2017 when he resigned along with other board members following allegations of sexual assault.
In 2021, Dirk Ziff sold his family estate in Manalapan for $94 million, initially listed for $200 million in 2015.

Career and Investments

Following the inheritance, Dirk and his brothers formed Ziff Brothers Investments, a New York City-based investment firm.
They invested their inheritances broadly across equities, debt, real estate, commodities, private equity, and hedge funds.
The brothers provided seed money to fund manager Daniel Och in exchange for a 10% stake in Och-Ziff Capital Management, which went public in 2007.
In 2015, Dirk Ziff established his own family office, Ziff Capital Partners, after dissolving Ziff Brothers Investments in 2014.
Dirk Ziff served as a founding board member of the Robin Hood Foundation in 2006.
He was involved in the acquisition of the Association of Surfing Professionals (now the World Surf League) through ZoSea, an investment vehicle he co-owned.

Philanthropy and Political Contributions

Robert Ziff donated $2 million to the Harvard University men's hockey program in 1998 and established the Robert D. Ziff Professorship of Law at Cornell Law School in 2008.
Dirk and Daniel Ziff donated $2 million to the Center for Climate and Life, a research initiative at Columbia's Lamont–Doherty Earth Observatory in 2018.
Robert Ziff made financial contributions in support of Republican legislators advocating for gay marriage in 2011.
The Ziff brothers' philanthropic activities also include undisclosed political contributions and support to various charitable causes.
Their philanthropic endeavors reflect a commitment to education, environmental conservation, and social welfare initiatives.
The Ziff family's philanthropy extends to supporting cultural institutions and organizations promoting the arts.

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

If you started with $10,000 and invested an additional $500 each month at a 44.02% CAGR, it would take you 5 years to reach Chen Zhisong's net worth of $1.56B.

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 42.57% compared to 11.75% for the S&P 500 benchmark.

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

Chen Zhisong 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 Zhisong, Communication 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