Source of Wealth:Consumer Products
Full Name:Sze Man Bok
Occupation:Co-Founder and Chairman of Hengan International Group
About Sze Man Bok
Chinese businessman Sze Man Bok is the Co-Founder and Chairman of the Hengan International Group, and has an estimated net worth of $2.4 billion as of April 2016, according to Forbes. According to Forbes, he is the thirtieth richest person on the China Rich List and is ranked 589th in the World Billionaires List.
Mr. Sze has earned his estimated net worth of $2.5 billion when he co-founded the largest producer of tissue paper, sanitary napkins and baby diapers in China in 1985 along with Hui Lin Chit. He is responsible for corporate direction and development of the overall business in the company.
In the past year, Hengan’s Hong Kong-traded shares were up by 14%, which pushed Sze Man Bok’s net worth by $400 million. Its sales increased by 10% to $1.4 billion during the first half of 2012, which led to a 38% increase in profits to $206 million with the lower prices for raw materials and an emphasis on sales of relatively profitable items.
The sales of the company’s top seller, tissue paper, have grown in the second half of 2012 with the expansion of a production plant in Chongqing. As the chairman of the company, he owns almost 19% of Hengan.
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