Lu Guanqiu Net Worth $3.1 Billion
Chinese businessman Lu Guanqiu comes with an estimated net worth of $3.1 billion as of March 2013 according to Forbes. He was reported to be the wealthiest man in Zhejiang Province,People’s Republic of China. He earned his doctorate degree from Hong Kong Polytechnic University. Forbes reports that Lu Guanqiu is married and has four children. Today, Wanxiang Group is recognized as a leading maker of auto components and facilities. Along with auto parts fabricating, Wanxiang Group also holds interests in finance and real estate. In 2013, the group hires more than 40,000 employees and earned $16 billion in the first 11 months of 2012. At age 15, Forbes chose to drop out of school to become an iron-smith. Jointly with six other peasants, he co-founded a factory that produces small agricultural machines. Eventually, Forbes developed the factory into Wanxiang Group which became a large manufacturing conglomerate. Now, Lu Guanqiu serves as Wanxiang Group’s President of the Board.