Source of Wealth:Nanshan Group
Full Name:Song Zuowen
Occupation:President of Nanshan Group
About Song Zuowen
Song Zuowen is the President of Nanshan Group, and has an estimated net worth of $2.7 billion as of April 2016 according to Forbes. He is the 50th richest person on the China Rich List and is ranked 882nd on the World's Billionaires List.
Zuowen has earned his estimated net worth of $1.7 billion through his control of the privately held firm, which has business interests in aluminum, apparel, jets, education and tourism. His wealth may have dropped bit due to the slower economic growth in China, which has squeezed his aluminum business in particular.
The net profit at Shandong Nanshan Aluminum has dropped by 22% to $98.4 million. In January, it was reported that the company has invested $6.5 million (40 million yuan) for an 80% stake in a joint venture with Zhongguancun Development Group to build the Beijing Nanshan Aerial Material Research Institute. This venture is seen as an effort to expand into aviation-related materials.
Song Zuowen is also said to be planning to set up an airline in Qingdao. His partners are thought to include Air China and the Qingdao government.
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