What is Lu Guanqiu's Net Worth?
Lu Guanqiu is a Chinese entrepreneur who has a net worth of $4.2 billion. Reportedly the richest person in Zhejiang Province, China, he is the chair of Wanxiang Group, one the oldest and largest private sector conglomerates in China. Born in January 1945 in Yuhang, Hangzhou, Zhejiang Province, he was the son of a poor peasant. He dropped out of school to become ironsmith at the age of 15. Having united with six other peasants from his province, Lu Guanqiu started a factory for production of small agricultural machines in July 1969.
Under his guidance, that factory eventually turned into the Wanxiang Group of today, i.e., a large manufacturing conglomerate and a chief maker of automobile facilities and components. Now holding the President seat at the Board of the Wanxiang Group, he was honored with an honorary doctorate from the Hong Kong Polytechnic University. He also serves as a part-time professor for the EMBA program at Zhejiang University. Married with four children, Lu Guanqiu currently resides in Hangzhou, China.
