| Net Worth: | $1.45 Billion |
Shao Genhuo Net Worth: Shao Genhuo is a Chinese businessman who has a net worth of $1.45 billion. Chairman of the Shenzhen-listed Beijing Dabeinong Technology Group, he got back to billionaire ranks last year after the 2012 increase in share price of the animal feed and seed supplier. In the first nine months of 2012, sales rose by 38% from a year earlier, thus reaching $1.2 billion and making net profit lift by 38% to $70 million. Needless to say, it was followed by an increase in production capacity. The rising trend continued last year when the company’s shares lift amidst negative publicity from reports that a company subsidiary had bought waste oil, also known as “gutter oil,” for its products. Born in China’s entrepreneurial mecca of Zhejiang province, Genhuo started his career as an educator. After he received a Ph.D. from China Agricultural University, he spent two years working as a teacher before he decided to start Dabeinong in 1994. A Buddhist with current residence in Beijing, China, Shao Genhuo enjoys tea and reading in his spare time.