Wang Wei

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Name: Wang Wei

Country: China

Date of birth: 01-01-1971

Education: High School

Type of business: Package delivery 

Main Achievements: He is aChinese businessman, investor, and self-made entrepreneur. According to Forbes, Wang Wei has a net worth of $16.8 billion. His name was present in the list of billionaires 2020 by Forbes. He was also a part of China’s richest 2019 by Forbes. He is the founder and chairman of SF express. He is the fourth richest man in China. 

Something interesting about the person: Interesting fact about Wang Wei is that he does not like to give interviews. He likes to keep his life out of the limelight. He became a talk of the town after becoming one of the most prominent entrepreneurs in China at such a young age. This curiosity led a private magazine to send a reporter undercover to gather information about Wang Wei and his business. For three months, the reporter disguised as a worker for SF express. 

Biography:

Wang Wei is a Chinese businessman and entrepreneur who was born in 1971 in Shanghai. After his birth, his parents left Shanghai and migrated to Hong Kong. Wang’s mother was a University professor, and his father worked in the Chinese Air force as a Russian translator. After finishing secondary school, instead of going to university, Wang started working in a small printing shop in Shunde city.  

In 1993 Wang, along with his five friends at the age of 22, started Shunfeng Express (SF). He borrowed USD 13000 from his father to start his new venture. Until 2009 his business started as an illegal business in China. At the beginning of his startup, Wang Wei used to work from 15 to 16 hours a day, and he used to personally deliver backpacks and suitcases across the border of Honk Kong. Wang Wei’s hard work and determination paid off, and eventually, his business became one of the leading logistics companies in China. 

He started his business when demand for express delivery across the border increased. Wong gained a lot of profit by trading across Hong Kong to the border of Shenzhen. Wang’s company, SF express, has a large staff of 80000 people working for them. His company owns thousands of vehicles and three dozen aircraft. They use these vehicles and aircraft to deliver across the big cities of China. Wang admitted in one of his interviews that when his company SF was started in the 1990s, it was called black delivery. He said that at that time, they would deliver their hand packages sneakily so that they might not get caught by postal officers. 

SF, under the direction of Wang Wei, has become the largest parcel delivery company in China. In 2015 the company generated revenue of $7.4 billion. Wang once took a loan of $550000 from the Bank of China by pledging his company SF express to the bank in 2005. He wanted the loan to expand his business. However, the gamble he did was risky, but it paid off. As a result of this, Wang’s business started gaining a huge profit with the boom in the e-commerce market of China. In 2009, Wang’s company SF expressed bought 2 Boeing-757 jets. Wang even bought a luxurious house in 2010 in Kowloon Tong. Since the founding of Wang Wei’s enterprise SF express, he has avoided getting any external funding and has controlled all the matters of SF express personally. 

To expand his business, in 2013, Wang approached new investors to invest in SF express. The company is also establishing its private airport located in a place called Ezhou near Wuhan city. Wang Wei’s company does not advertise much. Even Wang Wei did not give an interview to any media house till 2011. Once a private firm placed a bounty of 500000 RMB on Wang Wei, the person who would arrange a dinner meeting with him will get this money. Wang’s company got a license for delivering through drone in May 2018. 

Links

https://www.forbes.com/profile/wang-wei/#4cbfe6372b5f