Show me the money! A humble delivery man has now become China's third-richest billionaire.
Wang Wei, chairman of SF Holding — the FedEx of China — has seen his fortune grow to around $27 billion, according to a Forbes estimate. Wang has knocked out Tencent founder Pony Ma for the third spot, but is still a few billion dollars behind China's richest man, property tycoon Wang Jianlin, based on a ranking by the Hurun Report.
China's economy has boomed over the years, and so have the pockets of some savvy individuals. The world's second-largest economy now creates one new billionaire nearly every week, according to PricewaterhouseCoopers.
Logistics firms like SF are also riding China's e-commerce boom, as shopping sites run by Alibaba and JD.com have grown in popularity among consumers.
Shares of SF have soared as much as 40 percent after the company completed a backdoor listing last Friday in Shenzhen. Wang, 46, merged his company with one that was already trading — a quicker route to a public debut.