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Grizzly Bulls’ Billionaires Index

⬅ # 1720 Wang Yanqing|# 1722 Roberto Angelini Rossi ➡

# 1721 Wu Shaoxun 

$1.87B

Real Time Net Worth
as of 7/2/2024
-$335 (-0.00%)

# 1721 Wu Shaoxun 

$1.87B

Real Time Net Worth
as of 7/2/2024
-$335 (-0.00%)
OccupationMajority Owner, Hubei Jing Brand
Source of WealthWine
Age68
ResidenceDaye, China
Age-Adjusted Net Worth$1.09B
Wu Shaoxun
Wu Shaoxun
China
Net worth: $1.87B

Self-Made Score 

Wealth History

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Biography

Overview

Wu Shaoxun rose to billionaire status primarily through his leadership of Hubei Jing Brand, China's largest producer of herbal spirits.
Starting his career in a state-owned spinning mill, Wu later became the chief of a struggling state-owned spirit maker, where he transformed the business into profitability by introducing herbal medicines into liquor production, leading to the popularization of Jing Liquor among Chinese consumers.
After borrowing money, Wu acquired the company from the local government in 1998, eventually renaming it Hubei Jing Brand Co. His entrepreneurial journey reflects his ability to seize opportunities amidst China's economic reforms, propelling his company to dominate the herbal liquor market.

Career

Wu Shaoxun was born in China's central province of Hubei in 1956.
At 18, he joined the Chinese army and served for six years before leaving and working at a state-owned spinning mill in Daye.
Despite lacking experience in liquor manufacturing, Wu was appointed chief of a struggling state-owned spirit maker in 1987, where he turned the business profitable.
Introducing Chinese herbal medicines into liquor production, he popularized the signature product, Jing Liquor.
Wu borrowed money to buy the business from Hubei's local government in 1998, accumulating a 99% stake.
Today, his company holds the largest market share in China's herbal liquor sector, with annual sales exceeding 800 million bottles.

Milestones

Early Life and Career Transition
Born in Hubei, China in 1956.
Joins the Chinese army in 1974.
Leaves the army in 1980 and works at a state-owned spinning mill.

Entry Into Liquor Industry
Becomes head of the state-owned predecessor to Jing Brand in 1987.
Introduces Jing Liquor, its signature brand, in 1989.

Entrepreneurial Acquisition
Acquires the liquor maker from the local government in 1998.

Company Expansion and Renaming
Changes the company's name to Hubei Jing Brand Co. in 2001.

Political Involvement
Becomes member of National People's Congress in China in 2002.

How long would it take you to become as rich as Wu Shaoxun?

If you started with $10,000 and invested an additional $500 each month at a 44.06% CAGR, it would take you 5 years to reach Wu Shaoxun's net worth of $1.87B.

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 48.24% compared to 16.19% for the S&P 500 benchmark.

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Wu Shaoxun 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 Wu Shaoxun, Wine 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