What is Huang Zelan's Net Worth?
Huang Zelan is a Chinese billionaire who has a net worth of $1.08 billion. Huang Zelan made his fortune in the metal industry, after making a wise move using borrowed $782 to buy a tungsten mine in 1994, which eventually led to the creation of his current billion-dollar enterprise, Chongyi Zhangyuan Tunsten. Much to Zelan's luck, tungsten demand in China has gone through the roof shortly after the company's creation. However, in the first nine months of 2012 sales at the Shenzhen-listed company dropped by 17.6% from a year earlier to $207 million amid environmental issues.
The downturn led to a subsequent decrease in net profit, cutting it in half to $17.8 million. In April 2012, Huang Zelan handed over the CEO position to his son, Huang Shichun. As for Zelan's wife, Lai Xiangying, she serves as director of the listed company and CFO of its parent company, Chongyi Zhangyuan Investment Holding. Also, she owns 6% of the parent company, whereas the remaining 94% belong to Zelan.
