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GalaxyCore IPO Adds New China Tech Billionaire

By News Creatives Authors , in Billionaires , at August 18, 2021

GalaxyCore Shanghai CEO Zhao Lixin because the latest tech entrepreneur to join the ranks of China billionaires after the company’s shares more than doubled on their trading debut at the Shanghai Stock Exchange today.

GalaxyCore’s shares closed at 35.25 yuan, up 145% from their IPO price, leaving Zhao’s 42% stake worth 37 billion yuan, or $5.7 billion.

Founded in 2003, GalaxyCore supplies sensors and display driver chips. Customers include Oppo, Xiaomi, Samsung and Lenovo.

China’s richest chip industry entrepreneur is Yu Renrong, chairman of Will Semiconductor, whose fortune topped $12 billion on the Forbes Real-Time Billionaires List today.

Shanghai Awinic Technology Chairman Sun Hongjun earlier this week became a billionaire the IC design house went public at the Shanghai Stock Exchange.

China is home to the world’s second-largest number of billionaires after the United States.

See related posts:

Shanghai IC Design House Awinic Mints New China Billionaire

China Accounts For More Than A Fifth Of New Forbes Midas List

Click here for a Chinese-language version of this post

—with Steve Shao

@rflannerychina

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