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23 May 2017 12:38 (South Africa)

BYD founder is China’s richest man

byd

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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