Liang Wengen (Chinese: 梁稳根; pinyin: Liáng Wěngēn born 1956) is a Chinese entrepreneur in the fields of heavy manufacturing and the founder and chairman of the Sany Heavy Industry. In 2011, he became the richest man in mainland China, and was tipped to become a member of the Central Committee of the Communist Party of China, with a net worth of about USD $8 billion. However he lost that position, and as of February 2014 he was the fifteenth richest person in China, with a net worth of about $5.9 billion.
Early life
He was born to a poor peasant family in the Hunan province in 1956.
Career
Liang used to work as a top manager at a state arms plant, before getting involved in the construction-equipment industry.
He is the founder and main shareholder of Sany Group, a heavy industry manufacturer based in Changsha, Hunan Province.
His personal wealth is currently estimated at $5 billion.
Answering journalists’ question about the conflict between the interests of the Party and himself as a businessman he stated, “My property, even my life, belongs to the (Chinese Communist) Party”.
Personal life
Liang has a bachelor’s degree from Central South University. He is married and has one son, Liang Zhizhong.
He resides in Changsha.
Liang Wengen net worth: Liang Wengen is the founder and main shareholder of Sany Group who has a net worth of $3.7 billion. Liang Wengen owns 56% of Sany Group (a heavy industry manufacturer based in Changsha, Hunan Province). Liang Wengen has seen his net worth fall due to government policies which slow price increase in the real estate industry. Consequently, shares in flagship Sany Heavy Industry (a construction equipment maker) plummeted 45% in 2012, together with its Hong Kong-listed coal mining equipment arm, which also went down. In September the same year, Sany Group suffered a public relations embarrassment, being rejected by the U.S. to build a wind farm next to a U.S. military base in Oregon. But opposite to the U.S. impediment, Sany teamed up with CITIC Private Equity Advisors of China to purchase Putzmeister of Germany, one of the world’s largest concrete pump manufacturers, earlier that year. All in all, Liang Wengen has been dedicated to cultivate Sany Group into one of the world’s largest concrete machinery producers, today taking up 50% shares in Chinese market thanks to their highly competitive products. Furthermore, Sany’s rotary drilling rig and crawler crane have developed into domestic first-class brands.
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