Li Shufu net worth
Li Shufu Net Worth: Li Shufu is a Chinese industrialist and auto businessman with a net worth of $1.7 billion. He joined the ranks of China’s 100 richest as the founder of Geely — officially known as Zhejiang Geely Holding Group Co., Ltd. — and also serves as chairman. Since its founding in 1986, the company has transformed from a refrigerator maker to a successful automaker, selling vehicles from five well-known brands including Emgrand, England, Geely, Eagle and Volvo.
In fact, Geely is considered the second largest privately-owned automaker in China. In addition to cars, motorcycles, engines and transmissions can be found in Geely’s product portfolio. In March 2010, Li Shufu made headlines for his attempt to buy Volvo cars from Ford Motor Co. in a deal said to cost about $1.8 billion. This is considered the largest overseas purchase by a Chinese automaker. Thanks to the rise in Geely’s share price, Mr. Shufu’s wealth continues to swell as he sees a significant increase in his wealth from a year ago. Sales rose 33 percent to $2.4 billion in the first half of 2013, and profits surged, boosting his net worth.
