Chinese businessman Fang Wei has an estimated net worth of $1.96 billion as of April 2016 according to Forbes. Wei currently serves as the Chairman of the Beijing-based Fangda International Industrial Investment, a company known to own massive investments in the steel industry.

Due to the slowdown of China in 2012, there has been a reduction in the profits of several Fangda companies which include Fangda Carbon New Material, Fangda Special Steel, and Fangda Jinhua Chemical Technology. Last year, the Fangda Group sealed a deal to purchase 10% of Northeast Pharmaceutical Group from its parent company for only $44 million.