#1056

Zhang Hongfu

China 42 years old Self-Made

Overview

Source of Wealth
Bubble tea
Residence
Zhengzhou, Henan

Assets

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

Biography

Zhang Hongfu is the CEO of Mixue Group, the world's second biggest seller of freshly-made drinks by annual cups sold after Starbucks.

His elder brother Hongchao started a shaved ice shop in 1997 in China and opened the first Mixue Bingcheng store two years later. Hongfu joined in 2007.

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.

Hongchao is the chairman of the company and also a billionaire.