Businessman Yu Yong is a billionaire in China. Cathay Fortune Corporation, a privately held investment firm with 2021 revenue of 174 billion yuan (about $27 billion), is led by Yu as chairman and president. The Shanghai-based company owns shares in China Molybdenum Company, the world’s largest producer of cobalt and niobium. China Molybdenum Company is a publicly traded mine.

Yu Yong Career

Yu Yong was born in Wafangdian, China on 27 Feb , 1961. He moved on from Dalian Radio and TV College with a level of Corporate Administration, as per the China Molybdenum’s 2016 outline. In 1987, he started working for his hometown’s paper mill. In 1992, he became general manager at Dalian Dongli Art-Textile.

According to the prospectus, Yu joined the board of Cathy Fortune Corporation in July 2003 and became chairman and president of the group in December 2009. In 2007, he joined the Dalian People’s Congress. Additionally, he has held positions at the Liaoning Association of Enterprises with Foreign Investment and the Wafangdian Charity Foundation.

A 99 % stake in the closely held investment group Cathay Fortune Corporation is the source of Yu’s wealth. According to its annual report, the Shanghai-based company, which is also known as Hongshang Industrial Holding Group, generated $27 billion in revenue in 2021. China’s Molybdenum stakes are among its holdings. According to its website, the miner with headquarters in Luoyang, China, is the world’s largest producer of cobalt and niobium.

Yu Yong Facts

Yu Yong has been successful, but his business dealings have not been without controversy. His unfriendly bid for the Australian mining organisation, Disclosure Metals, was met with opposition from the Australian government and investors. His involvement in the Boseto copper project in Botswana was also criticised for having the potential to harm communities and the surrounding environment.

Yu Yong Net Worth

Yu Yong’s net worth was estimated to be approximately $4.7 billion USD in 2023, according to Forbes’ Real-Time Billionaires List.

Personal Information

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