⬅ # 2038 Andrei Krivenko|# 2040 Sebastian Kulczyk

# 2039 Li Qiong 

$1.55B

Real Time Net Worth
as of 4/12/2024
$3.9M (0.25%)

# 2039 Li Qiong 

$1.55B

Real Time Net Worth
as of 4/12/2024
$3.9M (0.25%)
OccupationChair, Sazerac Company
Source of WealthOnline Games
Age46
ResidenceBeijing, China
Marital StatusDivorced
EducationMS, Tianjin University
Age-Adjusted Net Worth$4.00B
Li Qiong
Li Qiong
China
Net worth: $1.55B

Biography

Early Life and Family

William A. Goldring was born in 1942 or 1943 in the United States.
He is the son of Stephen Goldring and Mathilde 'Teal' Goldring.
Goldring grew up in New Orleans and obtained a bachelor's degree in business from Tulane University.
He took over the family's alcohol business established by his father in the 1960s.
Goldring is married and has three children: Jeffrey Goldring, Diane Franco, and Marc Goldring.
He is a member of the board of Tulane University and the board of trustees of The National WWII Museum in New Orleans.

Career

Goldring is the chairman of the Sazerac Company, one of the largest liquor distillers in the US.
He also serves as the chairman of Crescent Crown Distributing, the second-largest beer wholesaler in the US.
Under Goldring's leadership, Sazerac's portfolio includes over 500 alcohol brands and a dozen distilleries across several countries.
Notable brands under Sazerac include Buffalo Trace Bourbon, Southern Comfort, Fireball Cinnamon Whisky, and Myers's Rum.
He grew the family's wholesaling operations and sold their stake in 2010 for an estimated $400 million.
Goldring's acquisitions expanded Sazerac's brand portfolio, including purchases of Southern Comfort, Goldschlager, and Myers's Rum.

Company History and Expansion

Sazerac Company was founded in 1869 after the purchase of the Sazerac Coffee House, later expanding into liquor brands.
Goldring began acquiring shares of the company in 1984, eventually becoming its sole owner.
Sazerac acquired several brands from Seagram in 1989, including Fireball Whisky.
In 1992, the George T. Stagg Distillery was acquired and later renamed Buffalo Trace Distillery.
Expansion continued with acquisitions such as W.L. Weller bourbon brands in 1999 and Monsieur Henri in 1994.
Sazerac's growth involved agreements with various companies, including Corby Distilleries Limited and White Rock Distillery.

Acquisitions and Agreements

Sazerac completed the purchase of Constellation Brands' value-priced spirit assets in 2009, including Very Old Barton.
In 2016, Sazerac acquired Southern Comfort and Tuaca brands from Brown-Forman, Inc.
The company expanded internationally, acquiring Paul John Whisky's distribution rights for the Indian market in 2017.
Further acquisitions included Michael Collins Irish Whiskey and Frïs Vodka from Pernod Ricard.
Sazerac entered into agreements with various distilleries worldwide, broadening its portfolio and distribution network.
In 2018, Sazerac announced the acquisition of 19 spirits brands from Diageo Plc, including Myers’s Rum and Seagram’s V.O. Canadian whisky.

Distilleries and Brands

Sazerac operates several distilleries across the United States and Canada, including Buffalo Trace Distillery and Glenmore Distillery.
The company's extensive brand portfolio encompasses bourbon whiskey, rye whiskey, Canadian whisky, rum, tequila, vodka, and liqueurs.
Notable brands produced by Sazerac include Pappy Van Winkle Bourbon, Buffalo Trace, Fireball Cinnamon Whisky, and Southern Comfort.
Sazerac's brands range from premium offerings like Blanton's and Eagle Rare to value-priced options such as Fleischmann's and Ten High.
The company's acquisitions and agreements have diversified its product range, adding international whiskies like Paul John and Michael Collins.
Sazerac's presence extends globally, with operations in over 100 countries and a diverse portfolio catering to different market segments.

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

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 Li Qiong's net worth of $1.55B.

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.

Enter data in all but one field below, then calculate the missing value

Li Qiong 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 Qiong, Online Games 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