Who is Hong Kong’s latest bubble tea billionaire? 5 things to know about Yun'an Wang
Hindustan TimesThe ever-growing demand for bubble tea in China has propelled many entrepreneurs into the billionaire ranks. The Chinese milk tea company’s IPO in Hong Kong helped the 38-year-old millennial become a new billionaire. Here are five things to know about the billionaire and his company: Yun'an Wang’s fortune Forbes Asia estimates that the chairman and CEO of Guming has amassed a fortune of $1.2 billion. Engineer to billionaire founder Yun'an Wang is an engineer who later went on to become a founder, and now his company's IPO in Hong Kong has helped him become a new millennial billionaire. Market share Guming sells tea under the “Good Me” brand, which, according to Bloomberg, has a market share of “9.1% as of the end of 2023 among China’s top five bubble brands.” Wang, in a 2023 interview, said that the boba tea industry is “always full of crazy promotions.” He added, “We are already used to a price war.
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