ByYue Wang,
Senior Contributor.
Cui Lixin—the founder of Chinese aluminum smelter Chuangxin Industries Holdings—has become a billionaire after the company’s shares surged 33% in its Hong Kong trading debut on Monday amid increasing demand for the metal.
The 56-year-old chairman of the company has amassed a fortune of $3.6 billion based mostly on his stake in Chuangxin Industries, according to Forbes estimates. Cui also derives his wealth from a separate ownership in Shanghai-listed Innovation New Material Technology, an aluminum product maker.
The Inner Mongolia-based Chuangxin Industries raised HK$5.5 billion ($706 million) from its IPO, attracting investors including American quantitative trading firm Jane Street, Swiss commodities giant Glencore AG and Singapore-based investment firm Hillhouse Group.
