⬅ # 504 Marcos Galperin|# 506 Tim Sweeney

# 505 Liang Wengen 

$6.12B

Real Time Net Worth
as of 4/12/2024
-$110.2M (-1.80%)

# 505 Liang Wengen 

$6.12B

Real Time Net Worth
as of 4/12/2024
-$110.2M (-1.80%)
OccupationFounder, Sany Heavy Industry
Source of WealthConstruction Equipment
Age67
ResidenceChangsha, China
Marital StatusMarried
Children1
EducationBS, Central South University
Age-Adjusted Net Worth$3.81B
Liang Wengen
Liang Wengen
China
Net worth: $6.12B

Self-Made Score 

Wealth History

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Biography

Overview

Liang Wengen, born in 1956 in Maotang, Hunan province, hailed from a poor peasant family.
He holds a bachelor's degree from Central South University and initially worked as a top manager at a state arms plant before venturing into the construction-equipment industry.
In 1989, Liang co-founded Sany Group, originally a small welding materials factory, which later evolved into Sany Heavy Industry Co., Ltd., headquartered in Changsha, Hunan.
An active member of the Communist Party, Liang was elected to the party's National Congress.
In 2023, Liang Wengen retired as the chairman of Sany Group at the age of 67, although he retained his position as a director.
He resides in Changsha and is married with one son, Liang Zaizhong, who chairs Sany Heavy Equipment International, listed in Hong Kong.

Company History

Sany Group, founded in 1989, originated as Lianyuan Welding Material Ltd., a modest venture with a capital of sixty thousand yuans in Maotang, Hunan.
Officially renamed Sany Group Co., Ltd. in 1991, the company's headquarters shifted to Changsha, experiencing rapid growth, driven by China's economic expansion.
Sany Heavy Industry Co., Ltd. became a subsidiary of Sany Group in 1994, later going public on the Shanghai Stock Exchange in 2003.
In subsequent years, Sany expanded globally, with industrial parks across China and manufacturing facilities in various countries.
Noteworthy acquisitions include a majority stake in Germany-based Putzmeister in 2012 and collaboration ventures, such as with Austria-based Palfinger, to produce mobile cranes.
Despite challenges, including divestiture orders by the US Treasury Department, Sany persevered, maintaining its position as a leading heavy equipment manufacturer.

Operations

Sany Group operates under several major divisions and subsidiaries, including concrete pumps, road construction, port machinery, mobile cranes, and wind power machinery products.
These divisions are spread across different locations, such as Changsha, Ningxiang City, Beijing, Kunshan, Shenyang, and Shanghai, catering to various sectors within the heavy machinery industry.
The company's global presence extends to manufacturing facilities in countries like Australia, Brazil, Germany, India, and the United States, among others.
Sany's diverse portfolio includes concrete machinery, excavators, cranes, and other heavy equipment, with a workforce of approximately 90,000 employees worldwide.
Additionally, Sany made forays into sponsorship, notably in NASCAR, where it sponsored races and served as an associate sponsor, leveraging its brand presence in different markets.

How long would it take you to become as rich as Liang Wengen?

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 Liang Wengen's net worth of $6.12B.

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

Liang Wengen 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 Liang Wengen, Construction Equipment 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