⬅ # 238 Charoen Sirivadhanabhakdi|# 240 Bernard Marcus

# 239 Li Shuirong 

$9.52B

Real Time Net Worth
as of 7/12/2024
-$154.9M (-1.63%)

# 239 Li Shuirong 

$9.52B

Real Time Net Worth
as of 7/12/2024
-$154.9M (-1.63%)
OccupationChair, Zhejiang Rongsheng Holding Group
Source of WealthPetrochemicals
Age68
ResidenceHangzhou, China
Marital StatusMarried
Children1
Age-Adjusted Net Worth$5.54B
Li Shuirong
Li Shuirong
China
Net worth: $9.52B

Self-Made Score 

Wealth History

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Biography

Early Career and Entrepreneurship

In 1989, Li Shuirong founded the Yinong Network Chemical Fiber Factory.
Recognizing an opportunity in the polyester fiber cloth market, he ventured into business.
As the polyester industry shifted upstream, Li established Zhejiang Rongsheng Holding Group.

Business Achievements

Zhejiang Rongsheng Holding Group, under Li's leadership, became the first private oil refiner in 2020 to gain Chinese government permission to export refined oil products.
In July 2023, Rongsheng Petrochemical, a Shenzhen-listed arm of the group, entered a strategic partnership with Saudi Aramco.
Saudi Aramco acquired a 10% stake in Rongsheng Petrochemical for $3.4 billion as part of the partnership.

Family Ties in Business

Li's son-in-law, Xiang Jiongjiong, serves as the CEO of Rongsheng Petrochemical, the group's Shenzhen-listed arm.

Global Partnerships

Rongsheng Petrochemical's strategic partnership with Saudi Aramco signifies global collaborations in the energy and chemicals sector.

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

If you started with $10,000 and invested an additional $500 each month at a 44.15% CAGR, it would take you 5 years to reach Li Shuirong's net worth of $9.52B.

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 51.86% compared to 19.03% for the S&P 500 benchmark.

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Li Shuirong 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 Shuirong, Petrochemicals 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