Qin Yinglin

Qin Yinglin
秦英林
Born1965 (age 59–60)[1]
Neixiang County, Nanyang, Henan, China[1]
NationalityChinese
Alma materHenan Agricultural University
Occupation(s)Founder and Chair of Muyuan Foodstuff (牧原食品)
SpouseQian Ying (钱瑛)

Qin Yinglin (Chinese: 秦英林; pinyin: Qín Yīnglín, born 1965) is a Chinese agriculture tycoon, billionaire, Communist Party member, and the world's richest farmer. He is the Chair and president of the pig farming company Muyuan Foodstuff and is one of the richest people in China. According to Bloomberg Billionaires Index, his net worth was estimated at US$14.9 billion as of September 2023.[2] Forbes wrote that he earned his wealth as "the country's largest pig breeder in the world's biggest pork market".[3]

Early life

Qin (pronounced Chin) was born in 1965 in Hexi Village, Mashankou Town, Neixiang County, Nanyang, Henan.[1][4][5] He grew up in poverty.[6]

In 1982, when Qin was in high school, his father saved up money and bought 20 pigs, but all but one died. This motivated Qin to study pig farming at university, so that he could help people in his village earn money raising pigs. In 1985 he was accepted to Henan Agricultural University.[4]

Career

In 1989, at age 24, Qin Yinglin graduated with a degree in animal husbandry and began working at Nanyang Food Company.[1][4] While working there he met his wife, Qian Ying,[6] who studied veterinary science at Zhengzhou College of Animal Husbandry Engineering (now Henan University of Animal Husbandry and Economy).[1] In 1992, after three years at Nanyang Food Company, Qin quit his "iron rice bowl" job, and he and Qian moved back to Qin's hometown to start a business in the pork industry.[1][6] They started out with just 22 pigs.[3]

The operation grew rapidly. By 1994 they had 2,000 pigs, and by 1997 they had 10,000. In 2000 Qin founded Muyuan Farming (牧原养殖), the company that would eventually become Muyuan Foodstuff.[1] In 2010, the company received an International Finance Corporation loan and investment.[7][1] By 2013, Muyuan Foodstuff Ltd. had two wholly owned subsidiaries and one participating company, and was raising more than one million pigs for slaughter per year. On 28 January 2014, Muyuan stock (002714.SZ) started trading on the Shenzhen Stock Exchange.[1]

Muyuan's stock price rose significantly when pork prices increased due to the African swine fever outbreak in 2019 and the COVID-19 pandemic in 2020.[8][9] During the swine fever crisis, Muyuan was able to thrive because it owns more of its own facilities than competitors, allowing it to better control the spread of disease.[7] Qin said that the swine fever outbreak "brings both benefit and harm"[10] and that "the epidemic will force the weaker companies and farmers to completely withdraw but it will be an opportunity for profit and development for the stronger enterprises."[8][7] Amid the crisis, Muyuan worked to continue increasing the number of pigs it slaughters and to increase automation in its pig houses.[11]

Muyuan Foodstuff is the largest pig breeder in China.[11] As of 2019, the company slaughters five million pigs a year.[10] Qin Yinglin serves as the company's president and chair.[12]

Wealth

According to the 2015 Forbes list of Chinese billionaires, Qin Yinglin was the richest person in Henan and the 67th richest person in China; he and his wife had a net worth of RMB 17.15 billion. According to Hurun the same year, he had a net worth of RMB 20.5 billion, making him the 98th richest person in China.[13] By 2019, Qin's net worth had risen to over 100 billion yuan, bringing him to 15th on the Hurun list and making him the only local entrepreneur in Henan worth 100 billion yuan; this increase came as Muyuan Foodstuff was doing well due to the rising price of pork.[14] On the 2019 Forbes list of Chinese billionaires, his family's wealth was estimated at 117.38 billion RMB, ninth on the list. He was the second Henanese entrepreneur on the list, after Xu Jiayin.[15] His wealth jumped again in 2020 as pork prices rose due to African swine fever.[9]

Qin is the richest farmer in the world[7][8] and owns 883 million shares of Muyuan stock, 40.06% of the company.[16] Qin's wife Qian Ying is also a billionaire, and together they own a majority stake in Muyuan.[17][10] His son Qin Muyuan (秦牧原) is a vice-president at Muyuan Group.[18]

Titles

Philanthropy

On 15 February 2019, Qin donated stock worth RMB 100 million to the Westlake Education Foundation (西湖教育基金会).[16]

In April 2020, Qin made another donation to the Westlake Education Foundation, of stock worth RMB 800 million, for basic research, cutting-edge technological innovation, personnel development, and teaching at Westlake University.[16]

Awards

In 1997, Qin was recognized as one of ten outstanding young farmers in China. In 1999, he received a Youth May 4th Pacesetter award. And in 2006, he was named a national exceptional worker in the field of animal husbandry.[1]

References

  1. ^ a b c d e f g h i j "秦英林家族：中原养猪大王 世界银行资金源头" (in Chinese). 理财周报. 21 July 2014. Archived from the original on 15 September 2016.
  2. ^ "Bloomberg Billionaires Index: Qin Yinglin". Bloomberg. Retrieved 7 December 2021.
  3. ^ a b "Qin Yinglin & family". Forbes. Retrieved 18 February 2021.
  4. ^ a b c "大学生农民秦英林_光明日报_光明网". www.gmw.cn. Retrieved 19 February 2021.
  5. ^ "对话与温总理"眼神交流"的内乡县大学生猪倌秦英林_人物". renwu.haedu.cn. Archived from the original on 19 February 2021. Retrieved 19 February 2021.
  6. ^ a b c Colville, Alex (30 November 2020). "China's 10 richest people in 2020". SupChina. Retrieved 18 February 2021.
  7. ^ a b c d "China's 'pork king' and world's richest farmer faces end to fortuitous crisis". www.ft.com. Retrieved 18 February 2021.
  8. ^ a b c "Meet the world's richest farmer who made billions from swine flu and the coronavirus pandemic". news.yahoo.com. Retrieved 18 February 2021.
  9. ^ a b "Forbes Billionaires 2020". Forbes. Archived from the original on 18 February 2021. Retrieved 18 February 2021.
  10. ^ a b c "Chinese pig farming kings thrive as prices soar". South China Morning Post. 15 December 2019. Retrieved 18 February 2021.
  11. ^ a b "China's billionaire farmer sees pork price slide as supply tames virus scare". South China Morning Post. 28 May 2020. Retrieved 18 February 2021.
  12. ^ "牧原食品股份有限公司董事长兼总经理". Muyuan Foods. Retrieved 18 February 2021.
  13. ^ "2015福布斯中国富豪榜： 河南首富还是秦英林" (in Chinese). 大河网-大河报. 27 October 2015. Archived from the original on 28 October 2015.
  14. ^ "河南千亿首富稳了公司第三季赚15亿比第二名多770亿" (in Chinese). 市界的雪球原创专栏. 12 October 2019. Archived from the original on 12 October 2019.
  15. ^ "福布斯发布2019年度中国富豪榜 牧原股份秦英林家族位列榜单第九 刷新河南本土企业家排名--财经----郑报融媒". www.zzwb.cn (in Chinese). Archived from the original on 7 November 2019. Retrieved 7 November 2019.
  16. ^ a b c "8亿元！河南首富秦英林再次无偿捐赠西湖大学-手机大河网". 4g.dahe.cn. Retrieved 29 April 2020.
  17. ^ "Qian Ying". Forbes. Retrieved 18 February 2021.
  18. ^ "河南首富之子、牧原集团副总裁秦牧原当选南阳市政协常委". 新浪. 15 May 2020. Retrieved 13 July 2022.
  19. ^ a b c d e "中州人物 第34期 牧原食品董事长秦英林：从猪舍做到千亿上市公司_河南省". www.sohu.com. Retrieved 18 February 2021.
  20. ^ "1999年中国青年五四奖章获得者秦英林_青春人物". www.ccyl.org.cn. Retrieved 18 February 2021.
  21. ^ "（受权发布）中华人民共和国第十三届全国人民代表大会代表名单-中新网". 中新网 (in Chinese). Retrieved 13 February 2021.
  22. ^ "西湖大学第一届董事会第八次会议召开" (in Chinese). Retrieved 13 February 2021.

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