Lai Meisong Net Worth, Age, Family & Biography $5.3B Real Time Net Worth #420 in the world today

Avan Parvadiya — Tue, 06 Jun 2023 04:41:59 +0000

About Lai Meisong

Lai is the organiser and administrator of ZTO Express, China’s biggest conveyance organisation by bundle volume. The Shanghai-based courier expects to make 35.4 billion yuan in 2022 from its more than 30,900 delivery locations. The organisation raised $1.4 billion through a first sale of stock on the New York Stock Trade in 2016.

A delivery man just became one of the richest people in China

Lai Meisong Career

Lai Meisong was born in 1970 into a farming family in Tonglu, a county close to Hangzhou, the nation’s epicentre of e-commerce and the location of Alibaba Group. At the age of 14, after failing the high school entrance exam, he started working at a nearby silk mill.

Two years later, Lai started a business that took wood from the forests near Tonglu. That business made him quite possibly the most extravagant individual in his old neighbourhood by 2001, with more than 5 million yuan ($600,000) in reserve funds, as per a report in December 2015 by Qingdao News.

After observing the profitability of other delivery companies where his friends and relatives had been working, Lai recruited three partners to assist in the establishment of ZTO Express in Shanghai in 2002. Prior to 2009, restrictions prevented private delivery companies from competing with the state-owned China Post Group. However, customers still preferred the faster services provided by grey market private delivery companies.

ZTO’s business expanded rapidly on the back of China’s e-commerce boom, which fueled an increasing demand for parcel deliveries. On its first day, ZTO delivered 57 packages. According to its prospectus, the courier handled 2.9 billion packages in 2015 and generated $915.8 million in revenue.

Lai Meisong Facts

In October 2016, ZTO conducted an initial public offering on the New York Stock Exchange, which resulted in a raise of $1.4 billion. A request for clarification regarding the net worth calculation was not answered by a company spokesperson.

Chairman of YUNDA Express Nie Tengyun (L1), executive vice president of TTK Express Chen Xiangyang (L2), chairman of YTO Express Yu Weijiao(L3), chairman of ZTO Express Lai Meisong (R4),chairman of Sto Express Co., Ltd. Chen Dejun (R3), general manager of BEST EXPRESS Zhou Jian (R2) attend the departure ceremony of chairmen’s delivery to research and provide cutomers with better service during the 2016 Global Smart Logistic Summit on June 13, 2016 in Hangzhou, Zhejiang Province of China.