Biography
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.