⬅ # 476 Takahisa Takahara|# 478 Hank Meijer

# 477 Ruan Liping 

$6.17B

Real Time Net Worth
as of 6/24/2024
-$14.7M (-0.24%)

# 477 Ruan Liping 

$6.17B

Real Time Net Worth
as of 6/24/2024
-$14.7M (-0.24%)
OccupationCofounder and Chair, Gongniu Group
Source of WealthPower Strips
Age59
ResidenceNingbo, China
Marital StatusMarried
Children1
Age-Adjusted Net Worth$6.60B
Ruan Liping
Ruan Liping
Hong Kong
Net worth: $6.17B

Self-Made Score 

Wealth History

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Biography

Overview

Ruan Liping, a billionaire, chairs Gongniu Group, a Chinese civil electrical products manufacturing company.
He hails from China's Zhejiang Province and graduated in engineering machinery from Wuhan University.
Ruan cofounded Gongniu in 1995 with his brother Ruan Xueping, who is also a billionaire and serves as the company's vice chairman.
Early in his career, Ruan worked as a power strip salesman, which later influenced his business ventures.
He is an admirer of NBA Chicago Bulls' former star Michael Jordan, hence naming his company 'Gongniu,' which translates to 'Bulls' in Chinese.

Company Overview

Gongniu Group, also known as Bull Group, was co-established by Ruan Liping and Ruan Xueping in 1995.
Headquartered in Cixi, Zhejiang, the company went public on the Shanghai Stock Exchange in February 2020.
Prior to its IPO, Gongniu was a family-owned and managed company, with the Ruan brothers holding 100% equity.
In 2019, Gongniu Group faced a 1 billion yuan lawsuit for alleged patent infringement by Jiangsu Tongling Technology.
The company's IPO on February 6, 2020, issued 60 million shares at an issue price of 59.45 yuan, raising 3.567 billion yuan.

Legal and Quality Issues

In May 2021, Gongniu Group was investigated for anti-monopoly practices and fined 295 million yuan.
In July 2021, the company's flagship stores faced accusations of false propaganda.
In December 2021, a power strip produced by Gongniu Group spontaneously combusted, raising quality concerns.
In January 2022, a socket manufactured by the company exploded after a month of usage, further highlighting quality issues.
These incidents drew public attention and regulatory scrutiny toward Gongniu Group's product safety and business practices.

How long would it take you to become as rich as Ruan Liping?

If you started with $10,000 and invested an additional $500 each month at a 44.13% CAGR, it would take you 5 years to reach Ruan Liping's net worth of $6.17B.

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 48.35% compared to 16.28% for the S&P 500 benchmark.

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Ruan Liping 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 Ruan Liping, Power Strips 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