#341 Billionaire
Zhang Hongchao
$9.2B
+$51M
(+0.6%)
CN
· Age 50
Source of wealth: Bubble tea
Industry: food-beverage
Residence: Zhengzhou
{
"bio": [
"Zhang Hongchao is the chairman of Mixue Group, the world's second biggest seller of freshly-made drinks by annual cups sold after Starbucks.",
"He started a shaved ice shop in 1997 in China with a homemade machine and opened the first Mixue Bingcheng store two years later.",
"Nearly all-franchised, the Mixue Bingcheng chain offers bubble tea, lemonade, coffee and other drinks as well as ice cream at dirt-cheap prices across 45,000 stores, including nearly 5,000 overseas.",
"The company went public in a $444 million Hong Kong IPO in March 2025.",
"His younger brother Zhang Hongfu, CEO of the company and also a billionaire, joined Mixue in 2007."
],
"about": []
}
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