⬅ # 136 Henry Samueli|# 138 Leonard Lauder

# 137 Li Shufu 

$14.2B

Real Time Net Worth
as of 5/21/2024
-$627.7M (-4.43%)

# 137 Li Shufu 

$14.2B

Real Time Net Worth
as of 5/21/2024
-$627.7M (-4.43%)
OccupationFounder and Chair, Geely
Source of WealthAutomobiles
Age60
ResidenceHangzhou, China
Marital StatusMarried
Children2
EducationMS, Yanshan University
Age-Adjusted Net Worth$14.2B
Li Shufu
Li Shufu
China
Net worth: $14.2B

Self-Made Score 

Wealth History

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Biography

Personal Life

Eric Li Shufu, also known as Li Shufu, was born on June 25, 1963, in Taizhou, Zhejiang.
He holds a master's degree from Yanshan University.
Li is married to Wang Li, and their family resides in Hangzhou, Zhejiang.

Early Life and Education

Born in Taizhou, Zhejiang, Li Shufu had a modest childhood, making his first cars from sand as a boy due to financial constraints.
He pursued higher education and holds a master's degree from Yanshan University.

Career

In November 1986, Li founded Geely, which has grown to become the second-largest private automobile manufacturer in China.
In 2010, Geely acquired Swedish car brand Volvo in a historic deal worth US$1.8 billion, marking the largest foreign purchase by a Chinese car manufacturer.
Li expanded Geely's global presence by acquiring stakes in U.K. luxury sportscar makers Aston Martin and Lotus.
As of 2018, Li became Daimler's largest shareholder with a 9.7% stake in the German automaker.
In March 2020, he explored a merger between Volvo Cars and Geely to create a global automaker.

Business Expansions

Since 2010, Li has been strategically expanding Geely's global reach, marking a significant milestone with the acquisition of Volvo.
In 2018, his group acquired a 7.6% stake in Aston Martin, further diversifying Geely's portfolio.

Political Involvement

Li is a member of the 14th National Committee of the Chinese People's Political Consultative Conference (CPPCC).
He served as an independent non-party affiliated delegate to the 13th National People's Congress, representing Zhejiang.

Economic Views

Li has criticized the joint venture system in China's automotive industry, advocating for state-owned manufacturers to partner with private companies.
He believes that the current joint venture system prioritizes profits for foreign entities at the expense of innovation and technological advancement by Chinese automotive OEMs.

How long would it take you to become as rich as Li Shufu?

If you started with $10,000 and invested an additional $500 each month at a 44.10% CAGR, it would take you 5 years to reach Li Shufu's net worth of $14.2B.

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 42.76% compared to 11.89% for the S&P 500 benchmark.

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Li Shufu 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 Li Shufu, Automobiles 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