Duan Yongping
Born (1961-01-04) 4 January 1961
Nanchang, Jiangxi, China
Alma materZhejiang University
Renmin University
OrganizationBBK Electronics
Known forOppo, Vivo, OnePlus, IQOO and Realme

Duan Yongping (Chinese: 段永平; pinyin: Duàn Yǒngpíng; born 1961) is a Chinese billionaire entrepreneur and electrical engineer. He was the director of the Subor Electronics Industry Corporation and founded BBK Electronics Group (also the former Chairman). Duan's net worth was estimated at $1.5 billion, according to the 2018 Hurun China Rich List.[1]

Early life and education

Born on 10 March 1961 in Nanchang, Jiangxi, China, Duan entered Zhejiang University in 1978, majoring in wireless electronics engineering. After graduation, he became a teacher at the adult education center of the Beijing Radio Tube Factory (now BOE Technology). Later, he studied at Renmin University, where he majored in econometrics. He also studied in CEIBS as an EMBA student for two years.

Career

In 1989, he was appointed director of Nihwa Electronics Factory in Zhongshan by the parent Yihua Group. Over six years, he transformed the business's fortunes. The company only had 20 workers including himself. They only had 3000 RMB cash but owed 2 million RMB debts. But after Duan's struggle, it quickly became top producer of the "learning computer" (Chinese: 学习机). Branded as Subor (Xiao Ba Wang, Chinese: 小霸王) it was very successful at producing famiclones for the Chinese and other markets. It also produced video-game facilities, which made a profit of more than 200 million RMB during 1994–1995.[1]

In 1995, he left Xiao Ba Wang and founded BBK Electronics.[1]

Founding of BBK

On 28 August 1995, Duan resigned from Subor, and founded BBK Electronics Industrial Group in Dongguan, Guangdong Province. Its main product was DVD players. It is a well-known brand in cell phone, telephone and stereo devices.[1]

From 2002 to 2004, he was the second largest individual shareholder (with more than 10% at peak) of NetEase after William Ding Lei.

Personal life and philanthropy

Together with William Ding Lei, Duan donated US$40 million to Zhejiang University in September 2006. This is the biggest endowment in recent years for higher education in mainland China.[2]

In 2007, Duan spent US$620,100 to have lunch with Warren Buffett ("Power Lunch with Warren Buffett"), the money was donated to the Glide Foundation.[3][4] Due to his success in the stock market, and philanthropic activities, he has been called the "Chinese Buffett".[5]

Duan founded the Enlight Foundation in 2004.[6] It is run by his spouse Xin Liu, who is also the director and co-founder of Xinhe Foundation (previously Xinping Foundation) in China.[7][8]

References

  1. 1 2 3 4 "Seminar". Archived from the original on 2007-09-13. Retrieved 2008-01-17.
  2. ↑ "段永平、丁磊4000万美元捐赠浙江大学_网易新闻中心". news.163.com. Archived from the original on 2007-01-05.
  3. ↑ 网易 (2007-05-22). "段永平约会巴菲特照片曝光 23日做客网易". www.163.com. Archived from the original on 2021-04-17. Retrieved 2021-04-17.
  4. ↑ "Chinese fan forks out $620,000 for lunch with Buffett". The Independent. 2011-10-23. Archived from the original on 2021-04-17. Retrieved 2021-04-17.
  5. ↑ "段永平：从"步步高"老板到中国"巴菲特"-财经人物,中国富豪榜,段永平-北方网-时代财经". economy.enorth.com.cn. Archived from the original on 2021-03-06. Retrieved 2021-04-17.
  6. ↑ "Enlight Foundation". InfluenceWatch. Archived from the original on 16 December 2022. Retrieved 16 December 2022.
  7. ↑ Korey, Eileen (14 December 2022). "A Gift to Create Agents of Change in Visual Storytelling". Syracuse University News. Archived from the original on 15 December 2022. Retrieved 16 December 2022.
  8. ↑ "Xin Liu". Stanford PACS. Archived from the original on 16 December 2022. Retrieved 16 December 2022.
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