What is Wang Yong’s Net Worth?
Wang Yong is a Chinese entrepreneur who has a net worth of $1 billion. He has entered the billionaires membership because the founder and chairman of Shandong-based Xiwang Group, Asia’s largest producer of meals sweeteners. Backed up by China’s rising candy tooth, Xiwang noticed a major growth in its manufacturing capability of starch sugar, which reached a million tons per yr in 2012.
Set up in 1986, the group is especially targeted on manufacturing and processing agricultural merchandise corresponding to cornstarch, glucose, corn oil and feed; whereas its pursuits additionally embody actual property and metal except for foodstuffs. Today, Xiwang Group has round 14, 000 staff and consists of 1 three way partnership and 9 chief subsidiaries, together with Xiwang Sugar Holding, Xiwang Foodstuffs, and Xiwang Special Steel. Wang Yong holds about 66% of the group collectively together with his son, an inheritor obvious.
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