BYD founder is China’s richest man

By Daily Maverick Legacy 29 September 2009

The annual Chinese rich list is topped by Wang Chuanfu, founder and chairman of BYD, who is worth $5.1-billion. His wealth is defined by none other than Warren Buffet who recently bought 10% of BYD for $230-million. If you’ve never heard of BYD before, you better start studying now. It’s a Chinese car and battery maker and one of the companies that will probably turn out to be a giant of the future. Comparisons to Toyota are often invoked. Apart from its standard fare of car and cellphone batteries, what really makes BYD a juicy company to own is its development line of electric cars, with technology more advanced than anybody else’s on a rapidly warming planet.

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