What is Liang Wengen's 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.
