Chinese billionaire Yu Yong has a net worth of $11.5 billionaire. He is the CEO and founder of Cathay Fortune Group which is based in Shanghai in China. He owns a large quantity of CMOC Group shares. CMOC was founded in 1969.
The company was formerly known as China Molydenum which is one of the largest molybdenum producers in the world. He has extensive interests in the mining, smelting and refining. His operations are located in four continents.
Cathay Fortune Group is the leading producer of cobalt, tungsten, niobium and and molybdenum and also a major copper producer. The company is the leading base metal trader in the world.
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Cathay Fortune Group is a leading producer of phosphate fertilizer in Brazil. The company is a pioneer in use of electric trucks in the mines. This reduces energy and maintenance costs by 50 percent when compared to diesel-powered trucks.
He owns a shares in Contemporary Amperex Technology (CATL) which is in the business of making lithium-ion batteries. Yu Yong also has investments in Cathay Fortune. He has invested in Zeekr.
Yu Yong has interests in real estate. He has built many buildings in Shanghai in China. He has also invested in many banks and financial institutions in China.
Yu Yong has also faced some controversies in his business dealings. He was involved in hostile takeover of Australian mining company known as Discovery Metals. This was met with resistance from Australian citizens and government.
He invested in Boseto Copper Project in Botswana which has been criticized for its negative impact on the local communities and environment.
Yu Yong owns 40 percent of China Express Airlines.
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