Rank #862
Zhang Hongchao
Net worth $5.0B
Bubble tea · China
- Born
- Jan 01, 1976
- Age
- 50
- Source
- Bubble tea
- Residence
- Zhengzhou, Henan
- Citizenship
- China
- Marital status
- Children
- 0
- Education
Net worth over time
Biography
- Zhang Hongchao is the chairman of Mixue Group, the world's second biggest seller of freshly-made drinks by annual cups sold after Starbucks.
- He started a shaved ice shop in 1997 in China with a homemade machine and opened the first Mixue Bingcheng store two years later.
- Nearly all-franchised, the Mixue Bingcheng chain offers bubble tea, lemonade, coffee and other drinks as well as ice cream at dirt-cheap prices across more than 50,000 stores, including nearly 5,000 overseas.
- The company went public in a $444 million Hong Kong IPO in March 2025.
- His younger brother Zhang Hongfu, CEO of the company and also a billionaire, joined Mixue in 2007.
Financial assets
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