Friday, June 3, 2011

Self-made billionaire-Xiaofeng Peng

China. Age: 34

Xiaofeng Peng is a self-made billionaire with an estimated worth of $1.5 billion. Solar energy has been his ladder to success and wealth. When Peng was pondering the next move of his career, he realized that renewable energy is the future. Initially, he started out with a trading company in 2005, and it grew immensely to become one of the fastest growing suppliers of Chinese-made solar wafers in the world. These solar wafers are used in solar panels. His company, LDK Solar has also been listed on NASDAQ since 2007.

He graduated from Jiangxi Foreign Trade School in 1993 and went on to earn a diploma in international business from Beijing University Guanghua School of Management as well as an MBA degree in 2002. Prior to founding this company, he also founded Suzhou Liouxin, which is a leading manufacturer of personal protective equipment in Asia.

Xiaofeng Peng is also fluent in Japanese and traveled America and Europe extensively. He is a man with a big vision and has built a company of more than 12,000 people, which continues to grow. As part of his next
phase of expansion plans, LDK Solar has recently given a $220 million contract to Applied Materials Inc., for providing precision wafering systems.

Peng states that he aims at making his company the largest and the most economic silicon wafer supplier in the world and he intends to do that both in terms of market share and sales volume.

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