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Grizzly Bulls’ Billionaires Index

⬅ # 305 Tobi Lütke|# 307 Shapoor Mistry ➡

# 306 Chris Xu 

$9.02B

Real Time Net Worth
as of 11/18/2024

# 306 Chris Xu 

$9.02B

Real Time Net Worth
as of 11/18/2024
OccupationFounder, SHEIN
Source of WealthE-Commerce
Age40
ResidenceGuangzhou, China
EducationBS, Qingdao University
Age-Adjusted Net Worth$34.9B
Chris Xu
Chris Xu
China
Net worth: $9.02B

Self-Made Score 

TAG Heuer Formula 1 Quartz Chronograph

Wealth History

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Biography

Biographical Information

Sky Xu, also known as Chris Xu, is the founder of Shein, a fast-fashion phenomenon established in 2012.
He turned Shein into one of the world's most popular shopping apps, catering to Gen Z and operating in over 150 countries.
Shein is backed by Hongshan (formerly Sequoia China) and is renowned for its low prices, making it a favorite among users.
In the first half of 2022, Shein achieved a valuation of $100 billion, but it experienced a subsequent decrease amid a global stock rout.
In 2022, Shein expanded its operations by opening its first U.S. distribution center in Whitestown, Indiana, and its first Canadian distribution center in the greater Toronto area.
In 2023, Shein ventured offline by partnering with Sparc Group, the operator of fast-fashion chain Forever 21, to enter the retailer's locations across the U.S.

Business Exploits

Sky Xu's strategic leadership led Shein to be valued at more than Zara's owner Inditex and H&M combined in a recent funding round.
The brand's recognition, especially among young shoppers, is extensive, with widespread advertising on browsers and social media platforms.
Shein announced Jacobo Garcia Miña as a new executive hire in 2024 to spearhead its expansion to Europe, preparing to open pop-up stores in major European cities during the summer.

Entrepreneurial Journey

Born in Shandong in 1984, Sky Xu is described as a Chinese-American who studied at George Washington University or studied at Qingdao University of Science and Technology.
Contrasting reports mention Xu as an average student from a poor background who supported himself through college by working.
Xu developed expertise in search engine optimization (SEO), a skill that played a crucial role in his future success.
In 2008, Xu co-founded Nanjing Dianwei Information Technology, a cross-border e-commerce business, with partners Wang Xiaohu and Li Peng.
The trio initially sold various products, eventually focusing on clothing, and developed the model that later became the foundation for Shein.
In 2011, Xu created SheInside, an online wedding dress retailer based in Nanjing, which served as Shein's predecessor.

Controversial Anomalies

Controversy surrounds Xu's business dealings, particularly with the founding of SheInside.
Allegedly, Xu, after successfully building an e-commerce company with partners, disappeared one day, taking control of the company's PayPal accounts and ignoring calls from former colleagues.
There are conflicting accounts of this event, with Shein rejecting the characterization and Xu threatening to sue when the claims were first published.
Li Peng, one of the former partners, claimed Xu 'kicked [them] out of the game,' leading to a strained relationship.

Chris Xu's Wealth is Equivalent to:

6,945,343 Herman Miller Aeron Chairs

Herman Miller Aeron Chair

1,707,096 Gold Bars (50 gram)

24K Solid 50g Gold Ingot

92,207 Tiny Homes

Tiny House, Two Bedroom Solar Prefab Home

How long would it take you to become as rich as Chris Xu?

If you started with $10,000 and invested an additional $500 each month at a 43.43% CAGR, it would take you 5 years to reach Chris Xu's net worth of $9.02B.

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 58.67% compared to 23.91% for the S&P 500 benchmark.

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Chris Xu 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 Chris Xu, E-Commerce 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.

Affiliate Disclosure: Some of the links on this page are affiliate links. This means that, at no additional cost to you, we may earn a commission if you click through and make a purchase. We only recommend products or services we believe will add value to our readers.

Edited by: Lee Bailey