What is the ability of the petroleum and petrochemical industry to create wealth?
Hurun Research Institute recently released the “2022 Global Rich List”. According to analysis, although the Russia-Ukraine war and the new coronavirus epidemic have had an impact on the economy, the number of billionaire entrepreneurs in the world has reached a record high, with 153 new billionaires. US dollar entrepreneurs, equivalent to three per week, bringing the total to 3,381.
This wealth calculation is as of January 14, 2022. China continues to rank first with 1,133 billion-dollar entrepreneurs, 75 more than last year. Among them, many entrepreneurs in the petroleum and petrochemical fields are on the list. Let’s take a look at the companies from which these rich people come.
NO.1 Chen Jianhua and Fan Hongwei couple
Wealth: 170 billion
Enterprise: Hengli Group
Global ranking: 48
Chen Jianhua and Fan Hongwei, a self-made couple who started from scratch by buying a textile factory that was about to go bankrupt and built the world’s top petrochemical giant, have topped the list of the richest people in China’s petroleum and petrochemical field this year with a wealth of 170 billion yuan. Hengli Group was founded in 1994 and has developed into an international enterprise developing the entire industry chain of oil refining, petrochemicals, polyester new materials and textiles. In the refining sector, Hengli’s 20 million tons/year refining and chemical integration project is the first major private refining and chemical project listed in the State Council documents, and is also a strategic project for the new round of Northeast revitalization.
NO.2 Li Shuirong
Wealth: 95 billion
Enterprise: Rongsheng Holdings
Global ranking: 132
He saved his first pot of gold as a carpenter and started a cloth factory with RMB 200,000. He moved from textiles to upstream chemical fiber and oil refining to create a one-stop industrial chain. Li Shuirong accurately grasped several important industry development opportunities during his struggle. Zhejiang Rongsheng Holding Group owns petrochemical, real estate, financial investment and other industries, and owns listed companies such as Rongsheng Petrochemical and Ningbo United. Its subsidiary Zhejiang Petrochemical invested and constructed the “40 million tons/year refining and chemical integration project in Zhoushan Green Petrochemical Base” (Phase II)” has been fully put into production.
NO.3 Wang Yusuo, Zhao Baoju
Wealth: 75 billion
Enterprise: Xinao
Global ranking: 194
After many entrepreneurial ventures, including starting out by selling gas cans, Wang Yusuo found a path to wealth growth in the energy industry. Starting from city gas, ENN gradually covers the entire natural gas industry scenario including distribution, trade, transmission and storage, production, and intelligent engineering manufacturing. It owns four listed companies: ENN Energy, ENN Co., Ltd., XinZhi Cognition, and Tibet Tourism. It is the leading private gas company in China.
NO.4 Miao Hangen
Wealth: 42 billion
Enterprise: Shenghong
Global ranking: 458
In 1992, 27-year-old Miao Hangen served as the director of the printing and dyeing factory in Shenghong Village, Wujiang. Climbing up the industrial chain from the textile industry, his entrepreneurial footsteps have gone through printing and dyeing, chemical fiber and petroleum refining, turning a small factory run by a village into a refining giant. Shenghong Group owns the listed company Dongfang Shenghong. The group has three major industrial bases in Suzhou, Lianyungang and Suqian. Its business covers the world and it has laid out and constructed major integrated refining and chemical projects with an annual capacity of 16 million tons.
NO.5 Sun Guangxin
Wealth: 35.5 billion
Enterprise: Guanghui
Global ranking: 582
The richest man in Xinjiang and the creator of the “Western Myth”, Sun Guangxin’s Guanghui Group was founded in 1989 and now owns four listed companies: Guanghui Energy, Guanghui Automobile, Guanghui Baoxin and Guanghui Logistics. Among them, Guanghui Energy is the only private enterprise in China that owns three resources: gas, coal and oil. It has now formed four major business segments: natural gas liquefaction, coal mining, coal chemical conversion, and oil and gas exploration and development, integrating upstream coal mining, oil and gas Exploration and production, clean conversion and efficient utilization of midstream resources, integration of downstream logistics and transportation with terminal markets.
NO.6 Zhang Hongwei
Wealth: 34.5 billion
Enterprise: Oriental
Global ranking: 607
Zhang Hongwei is the chairman of the board of directors of Oriental Group. United Energy Group Co., Ltd., a subsidiary of the group, is mainly engaged in upstream oil and gas exploration, production, development and operations, focusing on investment and mergers and acquisitions in the oil and gas field.
NO.7 Tang Jinkui, Zhu Yuqin
Wealth: 25.5 billion
Enterprise: Shenghong
Global ranking: 874
Tang Jinkui is the vice chairman of Shenghong Group. He and his wife Zhu Yuqin have witnessed the development of this petrochemical giant from a small factory run in a village to the present.
NO.8 Yang Weidong
Wealth: 23.5 billion
Enterprise: Satellite Petrochemical
Global ranking: 952
Yang Weidong founded Zhejiang Satellite Chemical Co., Ltd. in 1995 and is currently the chairman. The company is the world’s leading acrylic acid manufacturer and one of the few large-scale manufacturers in China with a full industrial chain of acrylic acid and esters, polymer emulsions and functional polymer materials.
NO.8 Zheng Zheng, Liao Longxing, Lin Shuhong
Wealth: 23.5 billion, 23.5 billion, 23.5 billion
Enterprise: Changchun
Global ranking: 952
Liao Mingkun, Lin Shuhong and Zheng Xinyi jointly established the Changchun Artificial Resin Factory, which was the beginning of the Changchun Group. In 2013, Liao Mingkun’s son, Liao Longxing, took over the reins of Changchun Group and served as chairman. The group already owns companies including Changchun Man-made, Changchun Petroleum, Dalian Chemical, Taifeng Printed Circuit, Ji…The legal headquarters is located in Hong Kong.
NO.16 Ma Guolin
Wealth: 7 billion
Enterprise: Satellite Petrochemical
Global ranking: 3031
Ma Guolin, Vice Chairman of Zhejiang Satellite Petrochemical Co., Ltd.
NO.16 Qiu Jianlin, Qiu Xiangjuan, Qiu Yibo
Wealth: 7 billion, 7 billion, 7 billion
Enterprise: Hengyi
Global ranking: 3031
Qiu Jianlin is the actual controller of Hengyi Group, his sister Qiu Xiangjuan, and his son Qiu Yibo. Hengyi Group, formerly known as Xiaoshan Knitting Factory, has developed into a large-scale enterprise engaged in the production of petrochemicals and chemical fiber raw materials.
NO.17 Wang Kunxiao
Wealth: 6.3 billion
Enterprise: Jerry Petroleum
Global ranking: 3207
Wang Kunxiao is the vice chairman of Yantai Jereh Petroleum Services Group Co., Ltd.
NO.17 Ni Xincai
Wealth: 6.3 billion
Enterprise: Rongsheng Holdings
Global ranking: 3207
In the 2022 Hurun list, Li Shuirong, Li Guoqing, Li Yongqing, Xu Yuejuan, and Li Shuirong’s brother-in-law Ni Xincai are all from Zhejiang Rongsheng Holding Group.
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