Wang is the founder and chairman of Amer International Group, a closely held miner, processor and trader of copper and other metals. The Shenzhen, China-based company had revenue of $112 billion in 2022. The group includes a Singapore-based metal trader, a computer-chip maker and a polyimide producer.
The majority of Wang's fortune is derived from his control of Amer International Group, the closely held copper miner and processor he founded in 1994. The company is 90% owned by Wang and 10% by a sibling about whom little is known.
Amer had revenue of about $112 billion and stockholder equity of $19.6 billion in 2022, according to a Fortune Global 500 ranking. The base valuation is calculated based on the reported equity value and this is adjusted to reflect changes in the BI Global Copper Competitive Peer Group index. The company's largest industrial park suspended production from November 2023 and Wang's holding in the company was frozen by a court in Shandong, according to the National Enterprise Credit Information Publicity System. To reflect these events, a 40% liquidity discount was applied to the valuation on Dec. 7, 2023 and this led to a decrease of about $6 billion in the net worth calculation.
Wang also owns a 26% stake of publicly-traded Jiangsu Jiuding, according to a March 28, 2024 filing and the 2023 third-quarter report. About three-fifths of his stake is pledged and removed from the calculation. He acquired the stake in November 2019, according to a company disclosure.
The billionaire also owns property assets through Singapore-based investment company, Wen Way. These are valued at their purchase price in 2013, according to its website. The costs of Wen Way's land acquisitions and industrial parks construction in China are included as liabilities.
Fan Xinlan, a spokesperson for Amer, declined to comment on the billionaire's net worth.
Wang Wenyin was born in Anqing, a city in the Chinese province of Anhui, on March 2, 1968, according to filings with the UK's Companies House. He set up miner and copper processor Amer International Group in 1994. Nine years later, the company opened a 1,000-acre copper wire manufacturing site in Shenzhen, China, which is one of six factories in the city today, according to the company's website.
More plants followed, including a copper mine in Ganzhou and a processing park in Quanwei in 2005. The group opened an industrial park focused on computer chip design in 2011, and also is investing in polyimide production.
Awin Resource, a metal trader that had revenue of $4.5 billion in 2013, was established in Singapore in 2011. The billionaire's real estate investment company, Wen Way, bought 22 retail units in Singapore in 2013.
Wang, who lives in Shenzhen, according to UK filings, is married to Liu Jiehong, who is managing director of Amer.