⬅ # 914 Fatih Ozmen|# 916 Acharya Balkrishna

# 915 Jin Baofang 

$3.57B

Real Time Net Worth
as of 4/12/2024
-$106.1M (-2.97%)

# 915 Jin Baofang 

$3.57B

Real Time Net Worth
as of 4/12/2024
-$106.1M (-2.97%)
OccupationFounder and Chair, JA Solar Technology
Source of WealthSolar Panels
Age71
ResidenceXingtai, China
Marital StatusMarried
Children2
EducationAssociate in Arts/Science, Hebei Broadcast and Television University
Age-Adjusted Net Worth$1.70B
Jin Baofang
Jin Baofang
China
Net worth: $3.57B

Self-Made Score 

Wealth History

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Biography

Overview

Jin Baofang, born in 1952, is a Chinese billionaire and businessman.
He founded JA Solar Technology in 2005 after working as an electricity bureau official in Ningjin.
Before founding JA Solar, Jin Baofang held positions such as Vice President of the China Photovoltaic Industry Association and director of PV Products Association Branch of the China Chamber of Commerce for Import and Export of Machinery and Electronic Products.
Jin Baofang was investigated by the Pingdu Supervisory Committee in accordance with the 'China Supervision Law' in November 2020.
In the same month, he was detained by Chinese authorities but was released and returned to work in April 2021.
His daughter Junhui became a director of JA Solar in 2022, and his son-in-law Tao Ran also sits on the board.

Career and Business Ventures

Jin Baofang founded JA Solar Technology in 2005, which is headquartered in Beijing and has plants across China and Southeast Asia.
The company initially went public on the Nasdaq in 2007 but was taken private in 2018 due to lackluster share performance.
JA Solar joined the Shenzhen Stock Exchange through a backdoor listing the following year.
JA Solar Holdings, founded in Yangpu district, Shanghai, designs, develops, manufactures, and sells solar cell and solar module products.
In December 2009, JA Solar's growing market share was fueled by a large subsidy from the Chinese government.
In February 2018, JA Solar signed a distribution deal with Manitu Solar to distribute its solar modules to Eastern European markets.

Company Overview

JA Solar Holdings is a solar development company engaged in manufacturing and selling solar cell and solar module products.
They manufacture monocrystalline and multicrystalline solar cells, selling primarily to solar module manufacturers who assemble and integrate the cells into modules and systems.
JA Solar also manufactures a variety of standard and specialty solar modules.
The company's products are sold to customers in Germany, Italy, Sweden, Spain, South Korea, and the United States.
JA Solar has faced criticism for its 'very high' exposure to production in Xinjiang involving forced Uyghur labor, as stated in a 2023 report by Sheffield Hallam University.
The company is planning a $60 million plant in Phoenix, Arizona, in addition to its existing plants in China and Southeast Asia.

How long would it take you to become as rich as Jin Baofang?

If you started with $10,000 and invested an additional $500 each month at a 44.18% CAGR, it would take you 5 years to reach Jin Baofang's net worth of $3.57B.

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 36.27% compared to 8.51% for the S&P 500 benchmark.

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Jin Baofang 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 Jin Baofang, Solar Panels 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