Chinese-American businessman and founder of Shein has made an impressive fortune over the years. He’s a billionaire, but how much is his exact net worth?
Shein is one of the most popular online clothing stores in the world. Initially called ZZKKO, the company was founded in Nanjing, China in October 2008 and it gained worldwide recognition as one of the largest fashion retailer.
Known for selling relatively inexpensive apparel, the company’s success has been credited to its popularity among Generation Z consumers.
On July 11, 2023, the fashion brand was sued by three independent fashion creators who claimed the company has been copying their creativity.
They accused Shein of racketeering and copyright infringement and its owner, Chris Xu, is at the center of it all. In a complaint filed on July 11, three independent designers alleged that the company blatantly copied their creations. “Shein produced, distributed, and sold exact copies of their creative work,” the filing reads.
In the wake of this lawsuit, many are curious and want to know more about the fortune of the founder of the brand. So, how much is Chris Xu’s net worth right now? Read on for more.
Profile Summary
| Celebrated Name: | Chris Xu |
| Net Worth: | $10.5 billion |
| Source of Wealth: | E-commerce and Fashion |
| Profession: | Businessman |
| Company: | Shein |
| Full Real Name: | Xu Yangtian |
| Date of Birth: | 1984 |
| Age: | 39 years old |
| Birthplace: | China |
| Nationality: | Chinese-American |
| Current Residence: | Guangzhou, China |
| Education: | Bachelor of Science, Qingdao University |
How rich is Chris Xu?
Chris Xu is the founder and CEO of Shein, a fast-fashion eCommerce platform based in China but now with a presence in more than 150 countries.
The Org reports that Chris was born in China in 1984.
He graduated from Qingdao University of Science and Technology in 2007 and worked as an SEO specialist before discovering the value of online retail.
After years of being a pro at SEO, he created SheInside, his first online store which sold wedding dresses to customers outside of China.
Image Source: The Guardian
In 2022, Chinese media interviewed workers from Shein’s headquarters in Guangdong to understand more about the billionaire’s make-up.
A worker said: “No matter when you go, even if it is two or three o’clock in the morning, you can find Xu and his team. Always in meetings, never lazy, and always trying to learn all the good things about you.”
What is Chris Xu’s net worth? After more than a decade in the fashion industry, owning one of the world’s largest fashion retailer company Shein, Chris Xu (real name: Xu Yangtian) is reported to have a current net worth of $10.5 billion, per Forbes.
How much does the CEO of Shein make? There are no reports about Chris Xu’s salary but considering his fortune, he earns tens of millions every year.
How does Chris Xu make his money? His fast-fashion outlet sells its products to more than 150 countries, turning over healthy annual profits. In 2022, the company was valued at $100 billion, it was reported. The 39-year-old is among China’s richest men and is slowly becoming a notable E-commerce giant.
Chris Xu created Shein with the money, he earned by selling wedding dresses
Chris Xu implemented his idea of creating fashion stuff at an affordable rate commenced in 2008 when he espied that wedding dresses are one of the most highly-trending as well as expensive products from international markets.
So he sold his wedding clothes at a bargain-basement range to customers, there, he began the process of building Shein with the money he has earned by selling his wedding clothes.
He analysed the demand of people and worked on fashion which gravitates among Gen Z.
He began this most popular fashion platform with an aim to improvise currency conversion, where he faced the issue which stopped international customers from purchasing products.
Prior to becoming the owner of Shein, Chris Xu was and is known as an SEO pro. When he moved to Nanjing and worked as an integrated member of the marketing consulting company- Nanjing Aodao Information Technology. Being a part of the marketing department, he became a pro in SEO and leads the technical tools by himself.
Where is Shein based?
Shein is a Chinese-owned online fashion retailer that is based in Singapore.
It was founded in Nanjing, which is a busy city about 620 miles south of Beijing.
The company has been compared to a drop shipping business because it does not design or manufacture its own products.
Rather, the retail giant sources its products from a wholesale clothing market in Guangzhou.
In 2022, Shein reportedly moved its headquarters from China to Singapore citing regulatory, expansion and financial reasons.
Shein is also said to be expanding pop-up stores in major European cities too.