It took my friend and client Laowu 20 years to build his business, but less than four months from the IPO in Hong Kong to reach dollar billionaire status. While I hardly doubted he’d someday make it, it certainly happened quicker than I would have hoped or guessed. You can read my account of this remarkable businessman, his humble beginnings and his high-flying real estate development company, by clicking here.
Laowu’s company, Hydoo, has had a torrid run on the Hong Kong exchange. The share price is up over 70% since the listing on the last day of October 2013. That’s lifted the value of his family’s shares to north of $1 billion. I hadn’t kept track of the stock price, so didn’t know my friend had reached the milestone. Bloomberg’s China Billionaires reporter called today to ask if I would comment for the story he’s doing.