China's richest see their wealth double
By Wang Ying | China Daily | Updated: 2009-11-06 08:32
SHANGHAI: The Midas touch of US investment guru Warren Buffett helped energize the bank account of Shenzhen battery and electric car magnate Wang Chuanfu in the latest China rich list in Forbes Magazine, vaulting the entrepreneur 22 places up the rankings.
In addition to being the biggest climber and the new number one, Wang, a native of Anhui province, was the biggest gainer in terms of dollars. His personal net worth rose to $5.8 billion from $1.06 billion a year earlier.
His company, BYD, got a boost from Buffett's investment in September 2008, resulting in a six-fold increase in its share price in 2009.
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