Money Talks – it’s not everything, but everything is money

For its 2008 edition, Forbes has named China’s Peng Xiaofeng, 33 as the world’s richest self-made Asian, and the world’s 462th richest person, being worth USD2.5 billion.

33 years old? USD2.5 billion? Tha moving companies San Francisco exercise should be no problems at all.

He made his furtune from solar energy.

Don’t be fooled by the uncool look:

- Started out with a trading company
- It flourished into a family-run company with 12,000 employees: made safety products eg gloves & exported worldwide
- realised no Chinese company made solar panels, so he did.

Lessons:

- No matter how much you’re making, SAVE. In 2005, Peng used USD30 million of his own money (not borrowed) to make solar panel-making factories. Heck, most people would’ve considered living the slow life if they had USD30 million (about RM100 million) in cash!!!

- Never let up: in 2007 he took his solar company into Nasdaq. Internal management problems surfaced, but he held on.

And sorry ladies, he’s married.

Source
Forbes