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Li Shufu Net Worth, Biography & Lifestyle:
Are you a sucker for the Need for Speed? A little customization and you’re good to hit the streets. What’s more exciting than testing your limits in a sweet-pimped ride?
Li Shufu is a Chinese billionaire businessman and entrepreneur. He is the sole founder and chairman of Zhejiang Geely Automobile Holdings Group. Geely is China’s second-largest private automobile manufacturer.
Li Shufu’s net worth is estimated at $15.4 Billion.
Today, we’ll take a detour into Li Shufu’s career and see how he made his fortune. We’ll be looking at the following:
Table of Contents
Being in control of an automobile business puts a lot of stress on one’s shoulders. It’s a business known to the world. How did Li Shufu do it, and what was his motivation?
Are your engines ready?
Let’s hop in!
Who Is Li Shufu?
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|Net Worth: $15.4 B|
|Date of Birth: June 25, 1963 60 yrs old|
|Source of Wealth: Automobiles Entrepreneur|
|Nationality: Taizhou, Zhejiang Province, China|
|Birth Name: Li Shufu|
|Nickname: Eric Li|
|Spouse: Wang Li (m)|
|Children: 2 -Li Xingxing- (son) and Li Yi- (daughter)|
|Zodiac Sign: Cancer|
As we already know…
Li Shufu has a net worth estimated at $15.4 Billion.
Li Shufu is a renowned Chinese entrepreneur and billionaire. He is also the Chairman of Hangzhou-based Zhejiang Geely Automobile Holdings. He’s the largest shareholder and a Chinese car manufacturer. He’s not controlled by the state, which is already impressive.
Li Shufu was born in a small village called Lu Qiao, district of Taizhou, Zhejiang province, China. Oceans and mountains surround it. The only mode of traveling would be through the mountains or the ocean on a bicycle or boat.
This influenced Li Shufu…
Li Shufu made the concept of building cars a reality.
Li told Forbes Asia that he made his first cars from the sand when he was a young boy. He said, “We could not afford any toys; I couldn’t imagine making a car!”
Li bought the Swedish automobile manufacturer Volvo Cars from the Ford Motor Company.
How Old Is Li Shufu?
Li was born on June 25, 1963. He is 60 years old, born in Taizhou, Zhejiang Province, China.
Li Shufu’s Height & Weight
Li Shufu is 5 ft 6 in or (168 cm) tall and weighs 69 kg or 152 lbs.
Other influential people, also 168 cm, include the singer and songwriter Louis Armstrong. and co-founder of Apple Incorporated, Steve Wozniak.
Other Quick Facts:
How Much Is Li Shufu Worth?
Li Shufu has a net worth of about $ 15.4 Billion. He is the founder of the Zhejiang Geely Holding Group. It is China’s second-largest private automobile manufacturer.
Most of Li’s wealth comes from his ownership of Zhejiang Geely Holding Group in Hangzhou. The profit reached about $53.8 Billion in 2021.
Not only that…
Volvo Cars from the Ford Motor Company were the largest foreign sale made by Li Shufu.
As of August 28, 2022, Li Shufu has ranked number 7 on the China Rich List.
Li Shufu Net Worth Year By Year
|Year||$ Net Worth|
Li Shufu Investments
OEM, an acronym for Original Equipment Manufacturers, makes large profits for international suppliers. It also maintains the price of innovation, quality, and technological advancement.
According to Li Shufu, Chinese Automotive OEMs can cause people to become self-satisfied. Some domestic automotive OEMs rely more on profits than talent and passion.
Let’s look at Li Shufu’s pure investments:
At 19, Li Shufu bought a camera to take pictures of the tourists visiting his area and then developed it.
Li Shufu earned enough money to open up his studio and develop his photos when he did photography. He then created parts for his cameras, such as proper lighting and studio furniture.
The Artic Flower:
Li Shufu started creating parts for refrigerators, air conditioning, and electrical parts. He then had his brand called “Artic Flower.”
Li Shufu invested in making motorbikes China’s main mode of transport. He developed it in a way that would be considerate to females when wearing skirts. It would also be able to store more goods when traveling.
Geely Automobile Holdings:
Li Shufu owns 2% of publicly traded Geely Automobile – 2021 Hong Kong stock exchange.
Li Shufu made the largest foreign purchase when he bought Volvo cars from the Ford Motor Company.
China Aerospace Science:
Li Shufu had agreed with China Aerospace Science to build a new line of supersonic bullet trains.
The Young Li Shufu Biography
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Li Shufu came from humble beginnings. His father was a farmer.
He was born and brought up in an agricultural area- where agriculture is the main focus. Cars and airplanes were luxuries. A nearby military airport was where “red flag” cars of Chinese officials would often pass by.
Li Shufu made his first model car at the age of 10. His inspiration came from the Red Flag cars he saw at the nearby military airport.
A few years earlier…
Li was born on June 25, 1963, in Taizhou, Zhejiang Province, China. He and his family live in Hangzhou, China. When he was 19 years old, his father gave Li $16, and he used it to buy himself a camera.
That’s what started his stint in photography. He had a small business selling handmade camera accessories.
At 23, he created electrical parts and air conditioning for fridges. He soon created his brand called ‘Arctic Flower”. A few years after that, he developed “Geely”- meaning “lucky” in the Chinese language.
He was so smart!
Li Shufu High School
Li Shufu and his family came from a poor background, with no money to attend school or university. The children learned about farming practices as well as basic education. There’s no information on the name of the local school that Li Shufu attended.
Li Shufu University
Li Shufu had only attended university in 1989 when he could afford to. He graduated from Yan Shan University with a master’s degree in Engineering. He also has a degree in management engineering from the Harbin University of Science.
Li Shufu Achievements
Master of Operation and Management and Elitist in China’s Automobile Industry. He’s also among the Top 10 Leaders of Independent Innovation.
Li Shufu has an engineering degree from Yan Shan University. Forbes Asia also interviewed him.
Li Shufu also had a goal he wanted to reach in 2015: driving sales of 600 000 in the domestic market.
Li Shufu Family & Relationships
Li Shufu Partners
Li Shufu has a wife named Wang Li.
Li Shufu Children
Li Shufu has two children. He has a son, Li Xingxing, and a daughter, Li Yi.
Li Shufu’s Siblings
Li Shufu is the third son of four children. He has one brother named Li Xubing. His two other siblings whose names are not mentioned to the public.
We’ll continue how Li Shufu made it so far in his life with an estimated net worth of $15.4 Billion. Li is a renowned Chinese entrepreneur and the largest private automobile manufacturer. He is a product of Geely Automobile Holdings Group.
We already know…
Li Shufu had built the Volvo factory and bought the Volvo cars from the Ford motor company. Making the largest foreign sale, he was still dedicated to improving the world. He founded schools in China, as he once said: “Education is the foundation and building blocks,”
We will now drive by Li Shufu’s career timeline. Look at some of his scandals and money spent on businesses throughout his life. Later we’ll find a few fun facts, quotes, and frequently asked questions and the real answers.
Career Timeline Of Li Shufu
At age 10, Li Shufu made his first model car. His inspiration came from the red flag cars he saw at the nearby military airport where he stayed as a child.
At 19, Li Shufu bought a camera and started a photography business. He took pictures of tourists in the area and the scenic spots.
Li Shufu started up what was first called the Ji Li Holding Group. It’s now called the Zhejiang Geely Holding Group. The English word for Geely means Lucky in Chinese.
Geely first made parts for fridges. At the same time, the Chinese government gave production licenses to make fridges. Unfortunately, Geely was not chosen, and they had to leave the company.
Since the main mode of transport was cycling in China, Li Shufu decided to make motorbikes. It would be a sit-on-style scooter with enough space to store goods. He produced them at half the Japanese cost and shipped them to over 20 countries.
Li Shufu started his automobile business. He needed to meet the requirements to sell because of below-average quality.
Li Shufu made a second batch of cars. China joined the World Trade Organization, and Li Shufu produced them himself. He named his first cars “The Free Cruisers.”
Geely acquired the largest auto transmission, Australian DSI.
Li Shufu finally bought Volvo cars from the American Ford motor company. This was the largest foreign purchase made by a Chinese manufacturer.
Working capital from Geely of $900 million had been committed to building a Volvo factory in China. He had a target driving sales of 600,000 in the domestic market.
Geely China Automobile has sold over 2.1 million vehicles globally. It sold across eight subsidiary brands.
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The Scandals & Controversies Of Li Shufu
The controversy follows a fight between China and America.
Who would become the manufacturer of Ford and Volvo cars? Li felt that he must ensure the products sold were of good quality. The one concern involves a stereotype: “Made in China.” Many people assume that goods produced in China are low-priced but of bad quality.
One of the concerns is about quality control and safety.
Li has worked hard with independent production, using Geely-branded vehicles and Volvo’s technology. The stereotype of “made in China” sometimes certainly gave off the wrong idea. And this caused him to believe his products weren’t of good value.
Is the quality poor? People outside China were skeptical about the product. Li felt that he must promote the company and its services to consumers to counter the bias. This is to ensure great quality and safety and happy people.
How Li Shufu Spends His Money
Li Shufu, with a net worth estimated at $15.4 Billion, would hold some amazing items for himself, right?
Unfortunately, there has yet to be a record of where Li Shufu lives or any other luxurious products he might own. Besides what he has already invested in, for all we know, Li Shufu might own his own Ford or Volvo-branded cars.
Li Shufu Houses
We know that Li Shufu lives in Taizhou, Zhejiang Province, China. Unfortunately, there are no images of the house in which he lives.He’s that private
Li Shufu’s Cars
Li Shufu signed a deal to buy Volvo Cars from the Ford Company, making it the largest foreign purchase.
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Li Shufu Motorbike/ Scooter
Li Shufu invested in making motorbikes as it was China’s main mode of transport.
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Li Shufu Philanthropy
Li is the largest private automobile manufacturer of the Zhejiang Geely holding group. He is a Chinese car manufacturer with an estimated net worth of $15.4 Billion. He also bought Volvo cars from the ford motor company, the largest foreign sale. In turn, this made Li Shufu a renowned Chinese entrepreneur.
Not only that…
Li Shufu believes in the foundation of education. Since Zhejiang Geely Holding Group, he has made it his mission to provide the young with the right to learn.
Over the past 22 years, he founded eight colleges and universities. He also helps educate more than 100,000 students.
Li Shufu said, “Geely’s investments in education are not for profit and will never be for profit.”
5 Fun Facts About Li Shufu
5 Lessons We Can Learn From Li Shufu About Perseverance And Inspiration
- Have passion. It’s important to do what you love. Li Shufu showed us that with inspiration, anything is possible.
- Keep trying. There will always be hurdles in the way. Face and conquer but never give up.
- Take risks. Sometimes the biggest project seems out of reach, but remember, if you don’t try, you will never know.
- Start small. Having big dreams is good, but starting big can be impulsive. Li shows us that starting something small gives you experience for something bigger.
- Think of the future. Having all the money in the world is a blessing, but doing good with it is even better. Li Shufu shows us that investing in education gives rise to future individuals. They can change the world.
Top 3 Quotes From Li Shufu
FAQs: Frequently Asked Questions
Q1: What is Li Shufu’s net worth?
Ans: Li Shufu’s net worth is estimated to be $15.4 Billion.
Q2: What is the name of Li Shufu’s big company?
Ans: Li Shufu’s big company name is the Zhejiang Geely Holding Group.
Q3: Who is Li Shufu?
Ans: Li Shufu is a Chinese car manufacturer who owns Volvo cars and a Ford motor company.
Q4: When was Li Shufu born?
Ans: Li Shufu was born on June 25, 1963.
Q5: What are some of Li Shufu’s achievements?
Ans: Li Shufu made the Forbes Billionaires List in China’s Rich List. He’s one of the top people in independent innovation.
Q6: Which brand of car did the Zhejiang Geely Holding Group purchase?
Ans: Geely signed to buy Volvo cars from the ford motor company.
Conclusion: Li Shufu Net Worth
So, here we are at the finish line. That was one intense race. We can all agree that Li Shufu’s career inspires and motivates us. This article shows us that where you start in life, with determination and drive, you can make it far!
For me, the biggest takeaway from this article was the amount of effort, and time Li Shufu put into making it as far as he did. I particularly enjoyed watching his career timeline grow from the beginning.
There is no doubt…
He deserves that spot on the list of people in independent innovation. He worked hard to become the largest private automobile manufacturer in China, Zhejiang.
Not only that…
Li Shufu’s net worth is estimated to be $15.4 Billion. He is on top of the business realm but also a member of the philanthropist circle- his main focus being education.
We can learn a lot from the unfortunate and fortunate events of Li Shufu’s successes. He knows how to spin his wheels and race to the finish line with style.
I hope you enjoyed this article. If you enjoyed it, please check out 40+ Richest CEOs in the world or Billie Eilish’s net worth only on Insider Business School!