Head Of Buffett-Backed BYD Is China's Richest Man

Wang Chuanfu

If you want to know how much green technology is front and centre in China’s economy, look no further than the country’s most-wealthy list.

Wang Chuanfu, the head of Berkshire Hathawawy-backed electric car company BYD, is the country’s richest man, clocking in with personal wealth of $5.1 billion. BYD has been on a tear this past year, with big profits for Buffett.

And his story seems pretty good.

Telegraph: Mr Wang has been feted around the world after BYD beat major manufacturers, such as Toyota and General Motors, to build a new generation electric hybrid car. A consummate salesman, Mr Wang demonstrated the environmental credentials of his car by drinking its battery fluid in front of journalists.

Mr Buffett’s partner, Charlie Munger, described Mr Wang as “a combination of Thomas Edison and Jack Welch [the former head of General Electric]. I have never seen anything like it”.

Mr Wang was born into a poor farming family and both his parents died while he was still at school. He spent his early years as a government researcher, before borrowing $300,000 from his relatives to found BYD in 1995.

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