What is Wang Jianyi's Net Worth?
Wang Jianyi is a Chinese entrepreneur who has a net worth of $790 million. Wang Jianyi entered the billionaires' club as the founder and chairman of the Zhejiang-based Futong Group, one of the largest manufacturers of fiber optic cable products in China, as well as a key supplier of cable to some of the country's biggest telecoms, including China Mobile, China Unicom and China Telecom. Wang owns 80% of the private company whose great performance earned him a place among billionaires in 2012. As a matter of fact, the company's revenue went up by 45% to $1.4 billion (8.73 billion yuan) in 2011, a rising trend that continued in the first half of 2012. In that period, there was a 13.2% rise in revenue to $690 million (4.3 billion yuan). Subsequently, net income also grew by 30.5% to $37.5 million (2.33 billion yuan).
A graduate of the Zhejiang University of Technology, he set up Futong Telecommunication Materials Co. in 1987. By 1993, the company started manufacturing fiber optic cables. With more than 5.000 employees today, it generates $1.4 billion a year in sales. Business aside, Wang is a member of Chinese People's Political Consultative Conference.
