⬅ # 534 Annette Lerner|# 536 Erich Wesjohann

# 535 Gao Dekang 

$5.98B

Real Time Net Worth
as of 5/29/2024
-$18.8M (-0.32%)

# 535 Gao Dekang 

$5.98B

Real Time Net Worth
as of 5/29/2024
-$18.8M (-0.32%)
OccupationFounder and Chair, Bosideng
Source of WealthApparel
Age72
ResidenceChangshu, China
Marital StatusMarried
Children1
EducationEMBA, Phoenix International University
Age-Adjusted Net Worth$2.65B
Gao Dekang
Gao Dekang
China
Net worth: $5.98B

Self-Made Score 

Wealth History

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Biography

Overview

Gao Dekang is the billionaire founder and chairman of Bosideng International Holdings, renowned as one of the largest manufacturers of down jackets globally.
His father imparted sewing skills to him, setting the groundwork for his future endeavors.
Under Gao's leadership, Bosideng has expanded its reach with 3,500 stores across China and internationally, including a 6,300-square-foot flagship store in London.

Biographical Information

Gao Dekang serves as the Chairman and Chief Executive Officer of Bosideng International Holdings, as well as a director of certain subsidiaries within the group.
He has been a representative of the 10th to 12th National Congress and is recognized as a National Model Worker (全國勞動模範).
Gao founded the Group and assumed the role of executive Director in July 2006, responsible for its strategic development.
Accumulating over 47 years of experience in the apparel industry, Gao Dekang is esteemed as a senior economist and senior engineer.
He holds an EMBA degree and a Master’s degree in business management, reflecting his commitment to continuous learning and professional development.

Company Achievements

Bosideng International Holdings, with its flagship brand Bosideng, Snow Flying, Kangbo, Bengen, Shuangyu, and Shangyu, boasts 7,579 retail outlets selling down clothing, securing its status as the largest down clothing company in China.
In 2010, Bosideng, Snow Flying, Kangbo, and Bengen down clothing products collectively achieved a significant market share of 36.7% in the PRC, according to the China Industrial Information Issuing Center.
Bosideng held the top position as the leading down clothing brand in China for 16 consecutive years from 1995 to 2010, as verified by CIIIC and the National Bureau of Statistics of China.
The group has been instrumental in showcasing the latest Fall/Winter clothing trends from China to the world for 15 consecutive years at the 'China International Clothing and Accessories Fair'.

Product Strategy

Bosideng International Holdings has adopted a 'non-seasonal product' development strategy to optimize its product mix and enhance profitability.
Expanding beyond down clothing, the group offers a diverse range of products including Bosideng MAN, BOSIDENG RICCI lady's casual wear, D.D. Cat kids wear, VETALLO high-class menswear, and the ROCAWEAR franchise in the greater China region.
The Bosideng menswear business has rapidly expanded with 979 retail outlets across China.
The ROCAWEAR franchise project has established 7 consignment counters in major Chinese cities like Beijing, Shanghai, and Hangzhou.
In addition to fostering existing non-down clothing businesses, the group actively pursues mergers and acquisitions of reputable non-down clothing brands to further diversify its sales portfolio.

How long would it take you to become as rich as Gao Dekang?

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 Gao Dekang's net worth of $5.98B.

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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Gao Dekang 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 Gao Dekang, Apparel 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