Xu Shihui & family
Chairman, Dali Foods Group Co.
ACTUAL TIME TOTAL ASSETS– since 4/19/17
$ 6.9 B.
B.
Xu Shihui chairs China snack and also drink manufacturer Dali Foods Team.
Xu started in the cookie organisation then wound up getting 120 food brands.
Dali went public in November 2015 on the Hong Kong Stock market.
Xu functions 7 days a week and also states he wishes his job design motivates supervisors to imitate him. (He satisfied FORBES ASIA in his workplace in 2016 throughout a legal holiday.).
He’s the boy of a worker that obtained a task at Dali when it was a cumulative as well as accumulated shares by showing that he was a leader that had actually transformed business around.
Xu Shihui is the chairman of Dali Foods Group since 2014, and chairman of Fujian Dali Foods Group since 1992.[2]
As of March 2016, Forbes estimated his net worth at US$3.2 billion.[1]
Xu Shihui, his wife Chen Liling, and daughter Xu Yangyang own 85% of Dali Foods Group, through their family company, Divine Foods. Xu Shihui owns 50% of Divine, Chen Liling 10%, and Xu Yangyang 40%.[3]
Biography
Xu was born in Shishi, Fujian Province, the oldest of the eight children. After graduating from high school during the Cultural Revolution in the 1960s, he was sent to the countryside to work as a barefoot doctor. In the 1970s, he emigrated to Hong Kong and worked as a textile worker.
Property development
In 1988, he claimed to invest RMB$1.2 million in a knitting factory in his hometown, but he intended to build a hotel instead, although investments in private hotels were forbidden at that time. However, as soon as the construction was completed, the government policy was changed to allow private owners to have their hotels. Then Xu became the owner of the first private three-star hotel in China. He then started to invest into developing residential complexes and resorts in Fujian.
In the 1990s, he pushed his real estate business into Beijing and Shanghai. He undertook several property ventures in Australia in the 1990s. In 2005, The New York Times reported he had moved his family to Darwin, Australia.[2] He completed his Master of Business Administration via distance-learning from an Adelaide university[1][2] and invested in real estate in the early 1990s. During the 2003-04 year, Xu was the largest individual donor to the NSW branch of the Australian Labor Party.[1][2]
In the 2000s (decade), he expanded his business by acquiring listed companies including Shimao Holdings (listed on the Shanghai Stock Exchange) and Shimao International (previously listed on the Hong Kong Stock Exchange), while the latter was privatized by him in 2007.[7] Shimao Property was listed on the Hong Kong Stock Exchange in 2006.[8]
Source:
- Forbes
- wikipedia