⬅ # 258 Andrei Guryev|# 260 Nicky Oppenheimer

# 259 Gong Hongjia 

$9.29B

Real Time Net Worth
as of 6/24/2024
-$79.2M (-0.85%)

# 259 Gong Hongjia 

$9.29B

Real Time Net Worth
as of 6/24/2024
-$79.2M (-0.85%)
OccupationVice-Chair, Hikvision
Source of WealthVideo Surveillance
Age59
ResidenceHong Kong, Hong Kong
Marital StatusMarried
Children2
EducationBS, Huazhong University of Science and Technology
Age-Adjusted Net Worth$9.94B
Gong Hongjia
Gong Hongjia
Hong Kong
Net worth: $9.29B

Self-Made Score 

Wealth History

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Biography

Overview

Gong Hongjia, born in 1965 in mainland China, is a Chinese billionaire businessman with Hong Kong permanent resident status.
He graduated from Huazhong University of Science and Technology with a degree in computer science.
Gong started his career as a trader of electronic goods in Southern China, specifically in Guangzhou and British Hong Kong.
In 1992, five years before the handover of Hong Kong to China, he emigrated to Hong Kong.
Gong was the former owner of radio manufacturer Tecsun (now Tecsun Science & Technology) and smart card company Watchdata.
In 2001, he co-invested in Hikvision for a 49% stake, and in 2017, after Hikvision went public, he sold part of his shares, significantly increasing his fortune.
He also owned Wealth Strategy Holding, which partly owned Yichang HEC Changjiang Pharmaceutical in 2015.
Gong was actively involved in the property market of Hong Kong.
As of 2021, he holds permanent residency in Hong Kong.

Career Highlights

Gong served as the vice-chairman and the second-largest shareholder in Hangzhou Hikvision Digital Technology, a prominent supplier of surveillance products.
He held the position of Hikvision's vice chairman until 2021 and remains its biggest individual shareholder.
Gong chairs Vcanbio Cell & Gene Engineering, a Shanghai-listed company specializing in the preparation, detection, and storage of stem cells.
In December 2022, he acquired a 2.4% stake in C-Mer Eye Care Holdings, a Chinese medical services provider.

How long would it take you to become as rich as Gong Hongjia?

If you started with $10,000 and invested an additional $500 each month at a 44.13% CAGR, it would take you 5 years to reach Gong Hongjia's net worth of $9.29B.

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 48.35% compared to 16.28% for the S&P 500 benchmark.

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Gong Hongjia 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 Gong Hongjia, Video Surveillance 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