Zhu Yiming, chairman of ChangXin Memory Technologies (CXMT), has seen his personal wealth surge by more than $12 billion, bringing his total fortune to an estimated $15.9 billion.
The valuation jump reflects the rapid expansion of the Chinese memory chipmaker, which is increasingly viewed as a formidable rival to US-based Micron Technology in the global semiconductor landscape.
This development comes as CXMT advances preparations for a potential initial public offering that could raise up to $9.
The wealth accumulation highlights the strategic importance of CXMT within China's push for technological self-sufficiency.
As the country's largest onshore-listed semiconductor firm, CXMT has benefited from significant state support and domestic demand, allowing it to scale production and compete directly with established Western players.
Forbes reported the updated valuation, noting the firm's growing footprint in the memory market.
This development comes as CXMT advances preparations for a potential initial public offering that could raise up to $9.8 billion.