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#2883

Cheng Zhangwen

Source of wealth: Industrial valves

Net Worth

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Earnings per second

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Modules

Biography

Cheng Zhangwen is a director of Neway Valve (Suzhou).

Cheng co-founded the company in 1997 with Wang Baoqing, Lu Bin and Xi Chao.

The company went public in 2014.

The company has subsidiaries in the United States, Dubai, the Netherlands, Italy, Singapore and Nigeria.

Financial Assets

Exchange
SHANGHAI
Ticker
688697-CN
Company
Neway CNC Equipment
Exchange
SHANGHAI
Ticker
603699-CN
Company
Neway Valve (Suzhou) Co., Ltd. Class A
Exchange
SHANGHAI
Ticker
603699-CN
Company
Neway Valve (Suzhou) Co., Ltd. Class A

The Great Lie of Mega-Fortunes: The Case of Cheng Zhangwen

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 Cheng Zhangwen, linked to Manufacturing and 'Industrial valves', 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 9 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 0.6 years, proves that unlimited accumulation is not an entrepreneurial achievement, but the hijacking of democratic sovereignty.

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