According to Forbes Magazine, Frank Wang Tao the 38 years old with the net worth of US$3.2 billion calculated around March 2018 has become the youngest Asian billionaire in the technology industry. He also made it to the list on Forbes magazine’s 100 Richest in Tech for 2017.
Wang, who lives in Shenzen, China, is the founder of DJI, the world’s leading maker of commercial drones. With an estimated wealth of $3.2 billion, Wang is ranked 76th on the list, and 522nd on the magazine’s “The World’s Billionaires” list for the current year.
A native of Zhejiang Province in eastern China, Wang travelled to Hong Kong in 2003 to study for a bachelor’s degree at the Hong Kong University of Science and Technology, where he also later earned a master’s degree.
By 2005, the university, recognizing his talent, funded him $18,000 Hong Kong dollars ($2,300) to conduct research and develop a drone. He moved to Shenzen a year later to start his business, according to EJ Insight.
After launching its first product in 2008, DJI has since held a leading position in the consumer drone market, offering products that cater to a wide range of needs.