Meet man who defeated Elon Musk to build world's largest..., Warren Buffett invested in his business, his net worth is...

Wang Chuanfu, born in 1966 in China, had a difficult start in life. He lost both of his parents while he was still in school. His older brother stepped in to support his education. Despite these challenges, Wang stayed focused and earned a master’s degree from the Beijing Nonferrous Metals Research Institute.

After his studies, Wang moved to Shenzhen and began working at a battery company started by his institute. There, he discovered the growing potential of battery technology. In 1995, with just $352,000 borrowed money and a team of 20 people, Wang founded BYD.

In the beginning, BYD focused on making batteries. But Wang saw an opportunity to combine battery technology with automobiles. In 2003, he made a bold move by buying a struggling car company for $38 million. To understand car making, Wang took a unique approach. He bought second-hand cars from across the world, took them apart, and studied their designs.

Wang once said, “Toyota, being the world’s number one automaker, its craftsmanship, design, and products are worth learning from. Only by standing on its shoulders can we reach new heights.”

In 2008, BYD gained worldwide attention when American investor Warren Buffett invested $230 million in the company. This marked a major turning point for BYD, helping it grow faster and gain global trust.

A big part of BYD’s success is its vertical integration strategy, which means the company makes many of its own parts, especially batteries. This keeps costs low and allows BYD to expand quickly. Recently, it introduced a new fast-charging technology that can add 250 miles of range in just five minutes.

By 2024, BYD had become the world’s largest electric vehicle (EV) maker by volume, delivering 4.27 million vehicles and earning $107 billion in revenue. It now holds 32% of China’s new energy vehicle market, far ahead of Tesla’s 6.1%. According to Forbes, Wang Chuanfu's net worth is $25.6 billion.

Wang Chuanfu’s journey from hardship to global success is an inspiring example of vision, resilience, and innovation.