Early Life
Lu Weiding's early life was shaped by his father, Lu Guanqiu, who founded Wanxiang Group. Lu Weiding, however, initially pursued interests outside the family business, including a phase of racing jeeps and motorcycles. He later attended school in Singapore, a move that he credits with saving him from failure and disappointment.
Rise to Success
In 2003, Lu Weiding took over as president of Wanxiang Group. Under his leadership, the company has grown into a multinational conglomerate with diversified interests. Lu was recognized as one of the top 20 most influential figures in global business in 2003.
Key Business Strategies
Lu Weiding's key business strategies include expanding Wanxiang's global footprint, particularly in the auto parts industry, and diversifying into sectors like clean energy and agriculture. Wanxiang has made strategic acquisitions, such as A123 Systems and Karma Automotive, to strengthen its market position. Lu's leadership is also marked by a commitment to innovation and sustainability.
Philanthropy
Lu Weiding is recognized as a generous philanthropist. In 2019, he was the most generous Chinese philanthropist. He donated shares worth $720 million to a charitable trust in memory of his father.