⬅ # 434 Bruce Kovner|# 436 Sergio Stevanato

# 435 Wang Laisheng 

$6.76B

Real Time Net Worth
as of 4/12/2024
$32.7M (0.48%)

# 435 Wang Laisheng 

$6.76B

Real Time Net Worth
as of 4/12/2024
$32.7M (0.48%)
OccupationVice Chair, Luxshare
Source of WealthElectronics Components
Age59
ResidenceShenzhen, China
Children1
Age-Adjusted Net Worth$7.23B
Wang Laisheng
Wang Laisheng
Hong Kong
Net worth: $6.76B

Self-Made Score 

Wealth History

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Biography

Overview

Wang Laisheng is the vice chairman of Luxshare Precision Industry, headquartered in Shenzhen, China.
He embarked on his entrepreneurial journey in the mid-1980s, eventually joining forces with his sister Wang Laichun to acquire Luxshare's precursor in 1999.
Luxshare, a key player in the electronics manufacturing sector, specializes in connectors and wireless headphones, with Apple being one of its major clients.
Wang Laisheng previously worked at Foxconn before venturing into Luxshare.
His sister, Wang Laichun, serves as the chairwoman and co-founder of Luxshare.
Both Wang Laisheng and Wang Laichun are billionaires, contributing significantly to Luxshare's growth and success.

Luxshare's Corporate Journey

Luxshare Precision Industry Co. Ltd., also known as Luxshare-ICT, was established in 2004 in Dongguan, China.
Initially focusing on computer cables, Luxshare has expanded its operations to become a crucial assembler of AirPods for Apple Inc.
The company went public on the SME board of the Shenzhen Stock Exchange in 2010, marking a significant milestone in its corporate history.
In 2020, Luxshare expanded its portfolio by acquiring two iPhone assembly plants from Wistron, solidifying its position as an iPhone assembler.
Despite facing legal challenges, including accusations of trade secret theft in 2022, Luxshare continued to thrive, securing a prominent role in Apple's supply chain.
Luxshare's growth trajectory accelerated during the COVID-19 pandemic, gaining additional business opportunities, particularly in the wake of protests affecting other major manufacturers.

Market Influence and Achievements

Luxshare's significance in the electronics industry was underscored by its role as the sole initial contract manufacturer for Apple's Vision Pro spatial computer as of July 2023.
The company's rapid ascent in the supply chain ecosystem, despite facing controversies, highlights its resilience and adaptability in navigating challenges.
Luxshare's success is attributed to its strategic partnerships, innovative product offerings, and efficient manufacturing processes.
Wang Laisheng's leadership, coupled with his sister's visionary guidance, has propelled Luxshare to prominence within the competitive landscape of electronic components manufacturing.
The company's evolution from a modest startup to a global player underscores its entrepreneurial spirit and commitment to excellence.
Luxshare's ongoing collaboration with tech giants like Apple cements its position as a key player in shaping the future of consumer electronics.

How long would it take you to become as rich as Wang Laisheng?

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 Wang Laisheng's net worth of $6.76B.

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.

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Wang Laisheng 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 Wang Laisheng, Electronics Components 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