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Li founded Geely in 1986 and still serves as the chairman of what has become China’s second-largest private automobile manufacturer. As of February 2023, Li has an estimated net worth of $22.1bn which puts him as the 72nd richest person in the world according to Forbes. In this article, we will investigate if Li Shufu manages his wealth through a family office.
No family office but wealth managed through Geely Holding Group
Since its inception in 1986, Geely has since become a Fortune 500 company for ten consecutive years according to Forbes. His son Li Xingzing also holds a 10% stake in the holding company. Through Geely, Li acquired Swedish car manufacturer Volvo cars from Ford Motor Company, which required a $1.8bn investment. Li acquired the title of the “Chinese Henry Ford” due to the way he transformed the Chinese automobile industry. In 2018, Geely became the largest shareholder of Mercedes-Benz acquiring a 9.7% stake in Daimler. Most recently, in 2022 Shufu’s Geely acquired a 7.6% in Aston Martin. Li established the Zhejiang Li Shufu Education Charity Foundation in 2006 to support poverty alleviation, disaster relief, medical aid, and education.
Picture source: Remy Lovesy
Der Beitrag Li Shufu: is there a family office? erschien zuerst auf familyofficehub.io.