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Li Shufu
Born (1963-06-25) 25 June 1963 (age 55)[1]
Taizhou, Zhejiang, China
Residence Hangzhou, China
Nationality Chinese
Occupation Chairman, Zhejiang Geely Holding Group Co. Ltd..
Years active 1986–present
Net worth US$ 17.4 billion (February 2018)[2]
Board member of Geely Automobile
Spouse(s) Peng Lijuan

Li Shufu (simplified Chinese: 李书福; traditional Chinese: 李書福; pinyin: Lǐ Shūfú; born 25 June 1963), is a Chinese businessman, and the chairman of Zhejiang Geely Holding Group Co. Ltd. and Volvo Cars.

Contents

BiographyEdit

Li Shufu was born in Taizhou, Zhejiang, China in 1963. Li was launched as the founder and chairman of Geely Automobile in 1986, which is the second largest private automobile manufacturer in China.[3] Currently, Li resides in Hangzhou, the capital city of Zhejiang province.

In 2013, Hurun Report ranked Li No. 63 richest person in mainland China and had a net worth of US$ 2.6 billion.[4]

Business careerEdit

On 28 March 2010, Geely signed a deal worth US$ 1.8 billion to buy Volvo Cars from American automobile manufacturer Ford Motor Company.[5] It was the largest foreign purchase by a Chinese car manufacturer. Along with $900m of working capital from Geely and a commitment to build a Volvo factory in China, Mr Li has a target of driving sales to 600,000 by 2015 in the domestic market.[6]

According to the Financial Times, Li has become Daimler's largest shareholder with a 9.7% stake in the German automaker.[7]

FootballEdit

Geely Group sponsored China Jia B League team Guangzhou F.C. in 2001. However, after the 2001 China Jia B League Match Fixing, at the end of the season, Li Shufu ended his involvement sponsoring football and was quoted as saying, "We won't come back until the Chinese football environment gets better."[8]

Personal lifeEdit

He is married and lives in Hangzhou, China.[2]

ReferencesEdit

  1. ^ "沃尔沃李书福专访". peeple.com.cn. Retrieved 23 February 2018. 
  2. ^ a b "Li Shufu". forbes.com. Retrieved 26 February 2018. 
  3. ^ Keith Bradsher (28 March 2010). "Chinese Automaker Geely to Buy Volvo: Ford Agrees to Sell Volvo to a Fast-Rising Chinese Company". www.nytimes.com. NY Times. Retrieved 26 February 2018. 
  4. ^ "Li Shufu - Hurun report". Hurun Report. 2013. Archived from the original on 31 December 2015. 
  5. ^ "Volvo sale signed by Geely and Ford" (stm). BBC News. 28 March 2010. Retrieved 28 March 2010. 
  6. ^ "China's lucky man bags Volvo". The Economist. 7 August 2010. Retrieved 2 April 2013. 
  7. ^ "Is Chinese state behind Geely's Daimler swoop?". Financial Times. Retrieved 27 March 2018. 
  8. ^ "Sports-Yearender: Bittersweet Year for Chinese Soccer League", People's Daily