Wang Wei : The journey of a common delivery man to a multibillionaire - Prime Insights - Business Magazine

Wang Wei : The journey of a common delivery man to a multibillionaire

Wang Wei

The journey of a common delivery man to a multibillionaire

  • Wang Wei is a Chinese billionaire businessman, commonly known to the world as the chairman and founder of Shenzen-SF Express, a Chinese delivery services company. As of March 2017, he was the 3rd richest man of China with a net worth of $27.6 billion according to Bloomberg’s Billionaire Index. In 1993, Wang founded the courier service company owning a 68% stake.
  • Wang was born in Shanghai, China in 1971. He attended primary and secondary schools after moving to Hong Kong with his family at 7 years of age. Instead of going to a University for further education after graduation, Wang went to work in the manufacturing sector.
  • His career began in print and dying industry in Shunde District which is a commercial and manufacturing centre in Guangdong province. During the early 90s, factories in Shunde needed to get samples to buyers from Hong Kong but due to the long shipping issues and delays got hindered. It was because of this, Wang founded ShunFeng Express as a small courier service company with just 6 employees.
  • Wang listed his courier service on the Shenzen stock. Today, SF express has about 80,000 strong staff along with 3 dozen aircraft and thousands of vehicles, delivering throughout huge cities of China. SF Express is a way to shuttle packages across the border between the then British colony and the Communist-ruled mainland.
  • Wang’s business grew on the back of “parallel trading”, where goods such as baby formula and medicines were bought by shoppers in Hong Kong and later exported for sale. By 2014 November, the company had established a logistics centre in Huizhou, Guangdong province.
  • By 2015, SF Express became the nation’s largest parcel delivery company with revenue sales of $7.4 billion riding an uprising domestic e-commerce industry lead by Alibaba. After having realized, the need of joining the stock exchange after navigation a so-called “backdoor listing” in 2015, Wang could easily skip a waiting list of 700 firms to launch initial public offerings.
  • The government of China gave Wang the green light to undergo a complex transaction for margin with small rare earth company already listed in Shenzen. The transaction was finalized on 24th of February when Maanshan Dingtai’s shares were replaced by SF Holdings and its shares ballooned about 70% in 8 sessions, widening Wang’s fortune.
  • Wang and his company have also successfully constructed a cargo airport in the central province of Hubei. The county’s postal service has recorded that SF Express is the fastest and largest delivery industry in the world with sales reaching 4 trillion Yuan by 2016.
  • Wang’s ideology has strengthened both media and investors to unusual lengths to learn about him and the operations of his company. As of 2017, SF Express became a multinational courier service with more than 400,000 employees working under it.
  • In March 2018, Wang’s company obtained China’s first license for drone deliveries. As of February 2017, Forbes has recorded Wang Wei’s net worth to be $26.2 billion.

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