Chen Dongsheng

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Name: Chen Dongsheng 

Country: China 

Date of birth: 1957

Education: Bachelor in Political economics 

Type of business: Insurance

Main Achievements: He is a Chinese businessman, entrepreneur, and self-made billionaire. He is the owner and founder of Taikang life insurance Company. According to Forbes Chen Dongsheng has a net worth of $4.8 billion. His name was present in the list of billionaires 2020 by Forbes. He was also a part of China’s richest 2019. He is also the founder of China Guardian, which is the 2nd largest auction company in china. 

Something interesting about the person: Interesting fact about Chen Dongsheng is that he donated a large sum of $12.1 for the talent acquisition fund in Wuhan University in 2018 from where he got his degree in political economics.

Biography:

Chen Dongsheng is a Chinese businessman and entrepreneur. Chen was born in 1957 in Tianmen city of province Hubei. He later went to Beijing and is currently living there. He got his degree in political economics in 1979 from Wuhan University. He was a part of the 59 students that year that got enrolled in the prestigious institute. Chen Dongsheng donated a large sum of $12.1 for the talent acquisition fund in Wuhan University in 2018 from where he got his degree in political economics. He got married to Kong Dongmei who is the granddaughter of a famous communist revolutionary Mao Zedong. Mao Zedong was also the founder of the People’s Republic of China. 

In 1996 in Beijing, Chen laid the foundation of Taikang Life Insurance Company. In 1996 Chen Dongsheng served as Taikang Life insurance company’s chairman and now as the chief executive officer. His company Taikang Life Insurance is a state-owned and professional shareholding company for insurance. The shareholders of the company are 16 medium-sized and large enterprises owned by the state. 

After getting his degree from Wuhan University, Chen started working in the Ministry of foreign trade and economic corporation as a researcher. After that, he worked as the chief executive editor in 1988 for the Management World journal. He was just 35 years old at that time. While working in the journal of Management World, he initiated a new concept of ranking companies. For this, he released a list of top 500 Chinese enterprises, which was according to the profits and revenue generated by the companies.  

Chen Dongsheng resigned in 1992 from his position in Management World journal after the famous speech “Tour to the south” given by Teng Hsiao. He left his post and laid the foundation of his own company. Chen’s primary goal while opening his private enterprise was to build a world-class company, and we can clearly see that how he has achieved his goal and made Taikang a life insurance company and China guardian both as one of the biggest companies not only in China but all over the world. Chen has become an inspiration for many young brilliant minds who want to come out of their shells and achieve something in their lives. Chen is also a part of Xiaomi’s board of directors. Xiaomi is one of the biggest Smartphone brands all over the world.  

Chen Dongsheng started his famous enterprise from a four-room office in the great wall hotel in Jianguo road. He used to pay 85 dollars for the office per day. He was completely new in the auction business and did not know how to run it. Unfortunately, in the initial years of his business, Chen could not make a profit which left him and his staff under enormous pressure. In 1993, Chen Dongsheng applied for a license for insurance and the other license for auction. However, only the permit for auction got approved, which led to the foundation of one of the biggest auction companies in China. On May 18th 1993, Chen founded China guardian, which is the 2nd largest auction house in China.  

In May 2016, Chen Dongsheng established the Luojia angel innovation fund. The fund’s value has reached 150 million RMB. The fund has invested until now in 10 high tech companies. 

Links

https://www.forbes.com/profile/chen-dongsheng/#4d5c680231e5

http://www.aict.org.tw/speaker3.html