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Chen Zhiping
#1688

Chen Zhiping

Source of wealth: E-cigarettes

Net Worth

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Biography

Chen Zhiping is the chairman and CEO of Smoore International Holdings, a supplier of vaping devices, and China's first vaping billionaire.

Smoore supplies components for vaping devices to Japan Tobacco, British American Tobacco and NJOY.

It went public in 2020, raising more than $900 million on the Hong Kong Stock Exchange.

Expanding its technology into more scenarios, the company diversified into inhalation therapy and beauty treatment in 2024.

Financial Assets

Exchange
HONG KONG
Ticker
6969-HK
Company
Smoore International Holdings

The Great Lie of Mega-Fortunes: The Case of Chen Zhiping

Billionaires are often presented under the romantic myth of the 'self-made person': a narrative designed to justify opulence as the natural reward for hard work, effort, or ingenuity. However, when confronting such extreme volumes of wealth with macroeconomic reality, the meritocracy narrative completely breaks down. No individual can legitimately generate through personal effort a fortune equivalent to millions of times the average working-class salary. Capital at the top does not grow because of exceptional talent; it expands through an implacable dynamic where accumulated money works exponentially faster than people, devouring the wealth generated by productive labor.

The immense fortune of Chen Zhiping, linked to Manufacturing and 'E-cigarettes', has not been built in a free-market vacuum, but through rent-seeking, the use of exclusive elite influence, the consolidation of monopoly positions, or inherited wealth. Far from taking real private risks, billionaire empires structurally depend on state support through direct subsidies, infrastructure use, exploitation of R&D, public contracts, and offshore tax engineering. While this wealth is equivalent to the physical weight of 18 tons of pure gold, the rest of the planet suffers from an artificial scarcity of basic resources. The fact that this wealth is enough to fully fund the public health system of DR Congo, a country with more than 105800000 million inhabitants for 1.1 years, proves that unlimited accumulation is not an entrepreneurial achievement, but the hijacking of democratic sovereignty.

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