What is Eric Li’s Net Worth?
Li Shufu, also known as Eric Li, has an estimated net worth of $12.6 billion. He is a prominent Chinese billionaire and the founder and chairman of Zhejiang Geely Holding Group, one of China’s largest private automakers.
Li’s wealth primarily stems from his ownership of Geely, which he founded in 1986 initially as a refrigerator parts company before transitioning into motorcycle manufacturing in 1994 and then automobile production in 1997.
Geely’s acquisition of Volvo Cars from Ford Motor Company in 2010 for $1.5 billion marked a pivotal moment in Li’s career, significantly boosting his financial standing and global influence in the automotive industry.
Over the years, Li has expanded his portfolio by acquiring stakes in several high-profile automotive brands. In 2018, he became the largest single shareholder in Daimler AG, the parent company of Mercedes-Benz, by purchasing a 9.7% stake valued at approximately $9 billion. In addition, Li’s investments include stakes in British sports car manufacturer Lotus and the flying car startup Terrafugia.
Here’s the breakdown of Eric Li’s net worth:
Name: | Eric Li |
Net Worth: | $12.6 Billion |
Date of Birth: | 25 June 1963 |
Profession: | Businessperson |
If you’re curious about how we estimate a celebrity’s net worth, you can check out our methodology here.
Early Life
Li Shufu, also known as Eric Li, was born on June 25, 1963, in Taizhou, Zhejiang Province, China. He grew up in a modest rural environment, where his family was engaged in farming. From a young age, Li demonstrated an entrepreneurial spirit.
At the age of 19, he borrowed 120 yuan from his father to buy a camera and started a photography business, taking pictures of tourists at scenic spots. This early venture laid the foundation for his future business endeavors.
Li later pursued higher education and earned a master’s degree from Yanshan University, which equipped him with the technical knowledge that would prove invaluable in his later career.
Career
Li Shufu’s career is marked by his transformation from a small entrepreneur to a global automotive magnate. He founded Zhejiang Geely Holding Group in 1986, initially focusing on refrigerator parts.
By the early 1990s, he had shifted to motorcycle manufacturing and, in 1997, entered the automobile industry. Geely’s acquisition of Volvo Cars from Ford Motor Company in 2010 for $1.8 billion was a landmark deal, making it the largest foreign purchase by a Chinese car manufacturer at the time. This acquisition significantly boosted Geely’s global presence and Li’s personal wealth.
Li continued to expand his automotive empire by acquiring stakes in other prestigious brands, including a 9.7% stake in Daimler AG in 2018 and a significant share in Lotus. His strategic investments and bold business decisions have cemented his status as a leading figure in the global automotive industry.
Political Life
Li Shufu has also been active in Chinese politics. He is a member of the 14th National Committee of the Chinese People’s Political Consultative Conference (CPPCC), a top political advisory body in China.
Previously, he served as an independent non-party affiliated delegate to the 13th National People’s Congress, representing Zhejiang Province.
His political involvement extends to various roles, including serving as a deputy to the Taizhou City People’s Congress and a member of the Zhejiang Provincial Committee of the CPPCC.
Personal Life
Li Shufu is married to Wang Li, and the couple resides in Hangzhou, Zhejiang Province. They have two children. Despite his immense wealth and business success, Li maintains a relatively private personal life. He is known for his passion for innovation and technology, which extends beyond his professional endeavors.
Li is also actively involved in philanthropy, having established the “Li Shufu Charity Foundation” to support various social causes, including education and poverty alleviation.
His philanthropic efforts demonstrate his commitment to giving back to society and promoting social harmony and progress.
Ashley Roberts is the founder of Real-Time Billionaires List. She founded this platform because she likes to know how much celebrities are actually making. She is always curious why these people can make much more money than the ordinary person.
With a Bachelor’s degree in finance, she is skilled at financial analysis and understands numbers related to wealth. Most of the articles on this site are edited by herself before publishing.
