#341 Billionaire
Zhang Hongfu
$9.2B
+$51M
(+0.6%)
CN
· Age 42
Source of wealth: Bubble tea
Industry: food-beverage
Residence: Zhengzhou
{
"bio": [
"Zhang Hongfu is the CEO of Mixue Group, the world's second biggest seller of freshly-made drinks by annual cups sold after Starbucks.",
"His elder brother Hongchao started a shaved ice shop in 1997 in China and opened the first Mixue Bingcheng store two years later. Hongfu joined in 2007.",
"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.",
"Hongchao is the chairman of the company and also a billionaire."
],
"about": []
}
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