Yu Yong

Net Worth

$25.356B

0% (24h)

Yu Yong, born in 1961, is a prominent Chinese billionaire and businessman. He is the founder and head of Cathay Fortune Corp., also known as Hongshang Industrial Holdings Group, a private investment conglomerate with significant holdings in mining, resources, and other sectors. His wealth stems primarily from his investments in the mining industry, particularly through his controlling stake in CMOC Group, a major global producer of molybdenum, copper, and cobalt. Yu Yong's career includes strategic investments in the mining and technology sectors, recognizing global trends in renewable energy and critical minerals. His early investments include a significant stake in Contemporary Amperex Technology (CATL), a leading lithium-ion battery manufacturer. As of March 2024, his net worth was estimated at $10.0 billion, and as of February 2, 2026, his real-time net worth is $23.6 Billion. Yu Yong resides in Shanghai, China, and has been involved in several business ventures and investment undertakings, including a hostile bid for Discovery Metals.

The Full Dossier

Early Life

Information regarding Yu Yong's early life and childhood remains private. He was born on February 27, 1961, in Wafangdian, China. Details about his family background and personal life are not publicly available.

Rise to Success

Yu Yong's career began after completing a Bachelor's in Engineering from Tsinghua University, providing a strong technical foundation. He founded Cathay Fortune Corp. in the early 2000s. His business acumen has led to several notable achievements, including his strategic investments in high-growth industries. Yu Yong's wealth mainly comes from his holdings in CMOC Group, formerly China Molybdenum, one of the world's largest producers of the metal.

Key Business Strategies

Yu Yong built his fortune through strategic investments in the mining and technology sectors, primarily through his private equity firm, Cathay Fortune Corporation. His investments in global mining projects and cutting-edge technology companies have been the foundation of his wealth. Cathay Fortune's operations are based out of Shanghai. Yu Yong's investment strategy extends to include investments in other high-growth sectors, such as electric vehicles and renewable energy, specifically CATL, the world's leading manufacturer of lithium-ion batteries.

Philanthropy

Information regarding his philanthropic endeavors is not publicly disclosed.

Career Timeline

2025

Lumina Gold Acquisition

CMOC took Canada-listed Lumina Gold private in a $419 million deal.

2024

Zeekr IPO

Zeekr, an electric vehicle brand under China's automobile giant Geely, went public on the New York Stock Exchange.

2018

CATL Investment

Acquired a 1.69% stake in Contemporary Amperex Technology (CATL) before its IPO, capitalizing on the growth in the battery industry.

2007

China Molybdenum Listing

China Molybdenum's successful listing on the Hong Kong Stock Exchange, leading to a significant increase in Yu Yong's wealth.

2000s

Founded Cathay Fortune Corp.

Established Cathay Fortune Corp. as a private equity firm, marking the beginning of his business ventures.