SHANGHAI, China — Wang Chuanfu, the founder and chairman of BYD Auto, the Chinese hybrid- and electric-vehicle manufacturer, is said to be China's richest man, with a personal fortune estimated at $5.1 billion.
With the help of a $230 million investment in his company last year by American business guru Warren Buffett, Wang saw the value of his holdings in BYD quintuple over the past 12 months. He was named the wealthiest man in China by the Hurun Report, in its annual Hurun China Rich List.
Wang, 43, founded BYD in 1995 and still owns nearly 28 percent of the parent company. BYD makes a plug-in hybrid car, the F3DM, and has its own lithium-ion battery technology. It is the world's largest manufacturer of cell-phone batteries.
The latest China Rich List, ranking the country's 1,000 wealthiest individuals, will be published in October.
Inside Line says: Mr. Wang apparently doesn't shop — yet — on Savile Row. — Anita Lienert, Correspondent
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