Biography of Xu Shugen
Xu Shugen, a Chinese billionaire, is renowned for his investments in real estate, finance, and minerals. He has stakes in several prominent business ventures, including Development Co., Ltd, Tianneng Power International Ltd, and Yingde Gases Group Co., Ltd. Furthermore, Xu has made significant contributions to poverty alleviation initiatives in China, receiving recognition from the China Charity Federation in 2015.
Early Life and Education
Xu Shugen was born in 1965 in Shandong Province, China. He spent his early years in a rural community and moved to Guangzhou for work after finishing high school. He then attended Guangdong University of Finance and Economics, where he graduated with a degree in finance.
Career and Achievements
Xu Shugen began his career in real estate in the 1990s by founding Guangzhou R&F Properties Co., Ltd. His company quickly became one of the most successful in Guangzhou, and he proceeded to expand his business operations to other cities in China such as Beijing, Wuhan, and Chengdu. Xu also ventured into the hotel industry, establishing Ramada Plaza Guangzhou in 2006.
Moreover, Xu Shugen has made significant investments in the finance sector. In 2005, he invested in the Tianneng Power International Ltd, a battery maker, and became the company’s largest shareholder. Tianneng Power International Ltd subsequently went public in Hong Kong in 2010. In the following year, Xu invested in Yingde Gases Group Co., Ltd, a major industrial gas supplier in China. He became the largest shareholder and was appointed chairman of the board in 2015.
Xu Shugen is deeply committed to philanthropy, and in 2007, he established the Hope Project to improve access to education in rural areas. He has also enacted tailored methods to tackle poverty through financing rural enterprises and other means. In recognition of these efforts, Xu was awarded as a “Charitable Individual” by the China Charity Federation in 2015.
Xu Shugen is a private individual who seldom shares details about his family or personal life in public.
|Sector:||Real Estate, Finance, Minerals|
|Companies:||Guangzhou R&F Properties Co. Ltd, Tianneng Power International Ltd, Yingde Gases Group Co. Ltd|
|Net Worth:||$5.5 Billion (October 2021)|
|Forbes url href:||https://www.forbes.com/profile/xu-shu-gen/|