⬅ # 263 David Green|# 265 Eric Smidt

# 264 Wang Xing 

$9.29B

Real Time Net Worth
as of 4/12/2024
-$260.4M (-2.80%)

# 264 Wang Xing 

$9.29B

Real Time Net Worth
as of 4/12/2024
-$260.4M (-2.80%)
OccupationCofounder and CEO, Meituan
Source of WealthFood Delivery
Age45
ResidenceBeijing, China
EducationGraduate, Tsinghua University
Age-Adjusted Net Worth$25.6B
Wang Xing
Wang Xing
China
Net worth: $9.29B

Self-Made Score 

Wealth History

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Biography

Overview

Wang Xing, born on February 18, 1979, in Longyan, Fujian, China.
Earned a bachelor's degree in electronic engineering from Tsinghua University in 2001.
Enrolled in a PhD program in computer engineering at the University of Delaware from 2001 to 2004, completing it with a master's degree.
Co-founded China's first college social network, xiaonei.com, which was later sold to Oak Pacific InterActive in 2006.
Founded Fanfou and served as its CEO from 2007 to 2010, a period during which he also founded Meituan.
Established Meituan in 2010, a successful Chinese group-buying site based on the Groupon business model.
Merged Meituan with Dianping in 2015, creating Meituan Dianping.
Meituan Dianping went public on the Hong Kong Stock Exchange in 2018.

Education

Wang Xing holds a master's degree in computer engineering from the University of Delaware.
Obtained a bachelor's degree in electronic engineering from Tsinghua University in Beijing.

Career Highlights

Founded technology startups such as Duoduoyou, Youzitu, and Xiaonei (renamed Renren), aiming to create Chinese equivalents of popular social networking sites.
Created Fanfou, China's first big microblogging site in 2007.
Established Meituan in 2010, a successful group-buying site, which later merged with Dianping in 2015.

Controversies

In May 2021, Wang posted a Tang Dynasty poem on Fanfou, interpreted as a critique of the Xi Jinping Administration's policies.
The post led to a 7.1% drop in Meituan's shares, resulting in a $36.98 billion decrease in the company's market cap.
Meituan faced scrutiny from authorities and an anti-monopoly investigation, reportedly linked to Wang's political post.

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

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 Xing's net worth of $9.29B.

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 Xing 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 Xing, Food Delivery 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