⬅ # 779 Maggie Hardy|# 781 Horst Paulmann

# 780 Frank Wang 

$4.11B

Real Time Net Worth
as of 5/27/2024

# 780 Frank Wang 

$4.11B

Real Time Net Worth
as of 5/27/2024
OccupationFounder and CEO, DJI Technology
Source of WealthDrones
Age43
ResidenceShenzhen, China
Marital StatusMarried
EducationBS, Hong Kong University of Science and Technology; MS, Hong Kong University of Science and Technology
Age-Adjusted Net Worth$13.0B
Frank Wang
Frank Wang
China
Net worth: $4.11B

Self-Made Score 

Wealth History

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Biography

Overview

Frank Wang, also known as Wang Tao, is the billionaire founder and CEO of DJI, the world's leading manufacturer of commercial drones.
He founded DJI in 2006 while studying at Hong Kong University of Science & Technology, initially running the company from his dorm room.
DJI gained significant popularity with its Phantom Drones, which revolutionized the consumer drone market with user-friendly features and accessibility.

Career

Wang was born in Hangzhou, Zhejiang province, in 1980, and showed an early interest in flight and airborne devices.
Despite mediocre grades in school, he excelled in a college project to build a helicopter flight control system, which caught the attention of a math professor at HKUST.
In 2005, Wang's team at HKUST won third prize in the ABU Robocon competition, leading to a grant to develop a drone.
He founded DJI in 2006, initially selling flight control components before transitioning to drones.
Wang's leadership style has been described as abrasive, contributing to high employee turnover during DJI's early years.
Under Wang's direction, DJI expanded its market presence, particularly with the release of the Phantom drone series.

DJI

Company History
DJI was founded by Wang in 2006 and initially struggled, relying on financial support from a family friend and facing employee turnover.
The company gained momentum with the release of the Phantom drone series, becoming the world's largest consumer drone company.
In 2017, DJI won a Technology and Engineering Emmy Award for its camera drone technology.
DJI faced legal challenges, including a settlement with a former executive and patent disputes with Textron.
Despite controversies, DJI continued to dominate the consumer drone market and expand its product offerings.

Corporate Structure
DJI has raised significant funding, including a $1 billion round in 2018, amid rumors of a potential IPO on the Hong Kong Stock Exchange.
Investors in DJI include state-owned entities and venture capital firms.
The company has a large workforce of around 14,000 employees and maintains offices internationally.
DJI is known for its rigorous hiring process and competitive internal culture, fostering innovation and product development.
The company operates sophisticated automated assembly lines in its Shenzhen factories, with many components produced in-house.

How long would it take you to become as rich as Frank Wang?

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 Frank Wang's net worth of $4.11B.

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.

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Frank Wang 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 Frank Wang, Drones 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