⬅ # 675 Lynn Schusterman|# 677 Chairul Tanjung

# 676 Luo Liguo 

$4.70B

Real Time Net Worth
as of 6/12/2024
-$49.6M (-1.05%)

# 676 Luo Liguo 

$4.70B

Real Time Net Worth
as of 6/12/2024
-$49.6M (-1.05%)
OccupationChair, Hoshine Silicon Industry
Source of WealthChemicals
Age68
ResidenceNingbo, China
Marital StatusMarried
Children2
Age-Adjusted Net Worth$2.74B
Luo Liguo
Luo Liguo
China
Net worth: $4.70B

Self-Made Score 

Wealth History

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Biography

Early Life

Luo Liguo, born in March 1956 in Cixi, Zhejiang, is a Chinese billionaire and businessman.
He hails from a township known for its production of straw hats, where he learned the craft as a child.

Early Ventures and Entrepreneurship

After university, Luo borrowed 20,000 yuan to found Cixi Shenyi Handicraft Factory, specializing in straw hat manufacturing.
In the 1990s, he expanded his ventures, establishing companies like Cixi Tianyi Investment and venturing into real estate with Hangzhou Jimei and Xinxin Real Estate.

Expansion Into Silicon Industry

In the late 1990s, Luo began investing in silicon materials production across regions like Xinjiang, Shihezi, and Heihe.
This initial investment laid the groundwork for his later success in the silicon industry.

Career at Hoshine Silicon Industry

Luo chairs Hoshine Silicon Industry, a major supplier of silicon metals crucial in electronics, photovoltaic, and chemical industries.
Under his leadership, Hoshine went public on the Shanghai Stock Exchange in 2017, marking a significant milestone.
His wife, Wang Baodi, serves as a director in Hoshine, while his daughter, Luo Yi, holds the position of vice chairman within the company.
Since 2021, Luo's son, Luo Yedong, has taken on the role of CEO at Hoshine, continuing the family's involvement in the company's leadership.

Business Ventures and Products of Hoshine Silicon Industry

Hoshine Silicon Industry specializes in manufacturing silicone-based materials, including natural silicone sealants, silicon metals, silicon metal powders, and various other silicon-based products.
Their product range caters to diverse industries such as electronics, photovoltaic, and chemicals, contributing significantly to these sectors.

How long would it take you to become as rich as Luo Liguo?

If you started with $10,000 and invested an additional $500 each month at a 43.94% CAGR, it would take you 5 years to reach Luo Liguo's net worth of $4.70B.

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 43.45% compared to 12.43% for the S&P 500 benchmark.

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Luo Liguo 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 Luo Liguo, Chemicals 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