#2546

Charles Zhengyao Lu

China 57 years old Self-Made

Overview

Source of Wealth
coffee chain, car rentals
Industry
Service
Residence
Beijing
Marital Status
Married

Assets

  • Car
    0 shares @ -
    -
    699-HK
  • Luckin Coffee
    60,607,000 shares @ -
    -
    LKNCY-US

Biography

A serial entrepreneur, Charles Lu founded rental car company Car Inc. in 2007 and guided it to an IPO on the Hong Kong Stock Exchange in 2014.

But his most valuable holding is Luckin Coffee, an upstart coffee chain with ambitions of surpassing Starbucks in China.

Started by a former executive of Lu's, Luckin Coffee expanded from one shop to over 3,600 locations in two years, and listed in the U.S. in May 2019.

Lu, who helped fund the company as an angel investor, now chairs the board and owns 26% of the shares.

He still chairs Car Inc. and also runs UCar, a ride hailing startup launched in 2015.