#1055

Zhang Hongchao

China 50 years old Self-Made

Overview

Source of Wealth
Bubble tea
Residence
Zhengzhou, Henan

Assets

  • Mixue Group
    153,997,000 shares @ -
    -
    2097-HK

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.