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Billionaire Profile
Yu Yong
Global Rank
#127

Image: Public domain | via Wikimedia Commons

Yu Yong

CEO, Cathay Fortune Corp.
CN
Real-Time Net Worth
$18.9B
As of December 2025
Age
64
Source
Mining
Industry
finance-investments
Citizenship
CN

Biography

Yu Yong, born in 1961, is a prominent Chinese billionaire primarily known for founding and leading Cathay Fortune Corp. His wealth stems from strategic investments in mining and technology, with a current net worth of $18.9 billion. Yu Yong's career is marked by his significant holdings in CMOC Group (formerly China Molybdenum), one of the world's largest molybdenum producers. He also owns a stake in CATL, a global leader in lithium-ion battery development and manufacturing, reflecting his vision for the future of technology and global sustainability. Yu is married and resides in Shanghai, China.

Wealth Over Time

In-Depth Profile

Early Life

Information about Yu Yong's early life and education is not widely available in public records.

Rise to Success

Yu Yong founded Cathay Fortune Corp. (Hongshang Industrial Holdings Group) in Shanghai, China. The company has investments in mining, real estate, and financial services. Yu Yong's strategic investments in the mining and technology sectors have been the foundation of his wealth. He is a major shareholder in China Molybdenum and has a significant stake in Contemporary Amperex Technology (CATL), a leading Chinese battery maker.

Key Business Strategies

Yu Yong's investment strategy focuses on early entry into high-growth sectors, acquiring undervalued assets, and expanding operations to maximize returns. His investments in mining and technology are key to his success. Cathay Fortune is the largest shareholder (40%) of China Express Airlines, showing diversification into the aviation sector. He also has significant investments in Shanghai real estate and financial institutions.

Philanthropy

Information regarding Yu Yong's philanthropic endeavors is not publicly disclosed.

Career Milestones

2003

Founded Cathay Fortune Corp.

Established Cathay Fortune Corp. (Hongshang Industrial Holdings Group), based in Shanghai, China.

2012

Hostile Bid for Discovery Metals

Made a hostile bid to acquire Australia-based Discovery Metals, but withdrew due to concerns about the Boseto copper project in Botswana.

N/A

Major Shareholder in CATL

Became a major shareholder in Contemporary Amperex Technology (CATL), a leading Chinese battery maker.

Controversies & Challenges

2012

Discovery Metals Bid

His hostile bid for Discovery Metals faced resistance from the Australian government and shareholders.

2012

Boseto Copper Project

Involvement in the Boseto copper project in Botswana attracted criticism due to potential negative environmental and community impacts.