Li Gaiteng
Source of wealth: Hair dryers
...
...
The scale of their wealth
Health
The price of life
Let's compare Li Gaiteng's fortune with the healthcare spending of a massive country
Li Gaiteng could fund the entire healthcare system of DR Congo, with a population of over 105,800,000 people, for approximately 1.2 years.
But even if we compare their fortune with that of a rich country
On the other end, Li Gaiteng could cover the healthcare spending of Luxembourg, considered the most heavily funded healthcare system in the world, for 0.5 years.
Education
Buying the future
Let's also compare their fortune with education spending, first with a poor country
Li Gaiteng could cover the total cost of Nigeria's education system, the most populous country in Africa with over 243,000,000 inhabitants, for 0.8 years.
And yes, we can also compare it with a rich country
But they couldn't just cover the cost of a poor country; Luxembourg is considered the country with the highest per capita investment in education in the world, and Li Gaiteng could pay for it entirely for 1.1 years.
Research
The monopoly on progress
Coming full circle, we think it's also interesting to add another gigantic country
Li Gaiteng could fully fund the state research budget of Pakistan, the fifth most populous country in the world with over 260,000,000 inhabitants, for 4.4 years.
And of course, the country that invests the most per capita worldwide
But even if we compare the total wealth of Li Gaiteng with Israel, the country that invests the most per capita in research in the world, they could cover the total cost of the system for 0.1 years.
Gold
Everyday luxuries
Li Gaiteng's fortune is equivalent to 18 tons of gold. It's hard to process, since we don't usually keep a handful of gold bars in our piggy banks.
A standard gold ring usually weighs between 4 and 7 grams. Let's say this one weighs 5 grams. It's usually 18 karats.
Based on today's gold price (excluding the jeweler's commission, shipping, or anything else), that ring would be worth $546.86.
Li Gaiteng could buy 4,818,200 gold rings. That's a lot of fingers and way too many gifts!!
And if you're struggling to visualize that many rings, it would take 1 trucks to transport them. Although Li Gaiteng will almost certainly have enough money left over to pay for the gas.
Biography
Li Gaiteng is the founder and chairman of Shanghai Flyco Electrical Appliance, a maker of personal care appliances such as electric razors and hair dryers.
His wife Lin Yu'e is an executive director at Flyco, which is majority owned by Li.
Li started the business after working as a motorcycle repairman.
Financial Assets
Monthly wealth history
Fortune comparison
Historical data not available for comparison