Health
Qin Yinglin earns $ 22 billion in personal fortune from its humble beginnings
Home-built millionaire Qin Yinglin is the richest farmer in the world with $ 22 billion (£ 17,828 million) of personal property.
His Chinese pork empire soared last year due to a shortage and rising prices during the 2019 swine flu outbreak in Africa and the subsequent COVID-19 pandemic.
Yinglin and his wife Zenei started the first pig farm with 22 piglets in 1992. By 2019, more than 10 million pigs have been born in Shenzhen-listed company Muyuan Foods.
As the most popular protein in China, pork is in high demand, and prices can rapidly accelerate due to loss of supply due to selection and regulation.
The swine flu outbreak in 2019 wiped out half of China’s pigs and increased prices by 160%. As a result, Muyuan Foods’ share price rose by 200% and by June last year, Yinglin’s assets had doubled to $ 22 billion.
The company’s strength is that it maintains a high percentage of ownership of its farms, which better manages hygiene and biosecurity and prevents disease.
Common thread underlying riots, COVID, China, Twitter, Trump“data-reactid =” 29 “>read more: Common thread underlying riots, COVID, China, Twitter, Trump
When China was blocked in early February this year, pork supply was restricted and Muyuan’s stock increased by 80% between February 3 and April 28.
But analysts predict that replenishing China’s pork supply could mean a decline in Yinling’s personal wealth, which is underpinned by excessive industry pricing.
As the swine flu outbreak stabilized and the coronavirus blockade was lifted, pork prices are falling and the market is expected to continue to normalize.
Told the Financial Times.. “data-reactid =” 33 “>” This is a limited story [for Muyuan] In terms of time, ”Wilhelm Uffelmann, head of consultant, Roland Berger’s food and agri business practices, Told the Financial Times..
Earlier this year, Inlin told the press that COVID-19 was a blessing to farmers.
“The epidemic will force weak businesses and farmers to exit completely, but it will be an opportunity for strong businesses to benefit and develop,” he said.
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