The person who was a primary school teacher 40 years ago is today the owner of property worth trillions. We are talking about Michael Maie. According to Forbes report, Michael Mai, who worked in a factory after being a primary school teacher in China and now runs his own company, has become a billionaire after the company was listed in the stock market. His company sells tape and other adhesive products to tech companies. His story is one of capture and refusal to accept defeat.
Chairman and CEO of ‘Crown New Materials Technology’, Michael Mai joined the list of billionaires on Tuesday. His company makes binding agents for big brands like Tesla and Apple and it started its trading on the Shenzhen Stock Exchange. Shenzhen Stock Exchange is the second largest stock exchange in China.
According to the data of this exchange, the company’s shares jumped by a huge 787%. At the time of stock filing, the price of one share was 16.98 yuan, which increased to the level of 150.58 yuan per share.
Was a teacher in China, now a billionaire Australian citizen
62-year-old Michael Mai is a citizen of Australia but he is a permanent resident of Hong Kong. According to Forbes report, his estimated net worth is $2.5 billion, which is based on his stake in the company. In Indian currency this amount is around Rs 2 trillion 36 billion 22 crore 50 lakh. His 64-year-old sister Mai Huixia is the vice-chairperson of this company and she also became a billionaire. According to Forbes, his stake gave him a wealth of $2 billion.
In the year 1985, Mai Michael started the adhesive material business. Before this, he was a teacher in a primary school in Zhongshan, China. From 1985, my Michael worked in factories and then managed an adhesive tape manufacturing unit. According to Forbes report, Michael’s daughter Mai Crystal is a board member of ‘Crown New Materials Technology’. In addition, Mai Michael’s other daughters, his wife, and Mai Huixia’s daughter also indirectly own shares in ‘Crown New Materials Technology’.
According to the company’s website, it has 4 factories in China and 1 in Vietnam. This company makes parts that connect different things together, from the roof of the vehicle to the chip of the smartphone.
Source: ndtv.in
