Drone maker DJI’s success makes its founder Asia’s youngest tech billionaire

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Cha-ching !

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As recreational droning esteem takes off, so has the wealth of DJI founder Frank Wang Tao, whose companionship is the world’s biggest buyer drone maker.

Wang has cracked the Forbes Richest in Tech“list of the world’s top 100 in the industry, taking the 76th spot with $3.2 billion.

And at 36, Wang is also Asia’s youngest. The China native founded DJI 11 years ago from his dorm room at the Hong Kong University of Science& Technology, afterward setting up a manufacturing hub in nearby Shenzhen.

Frank Wang, founder of DJI.

Image: VCG via Getty Images

Today, DJI predominates the droning marketplace, particularly in the cost zone outdoing $ 1,000, where more serious hobbyists and professional filmmakers are. Analysts remark it doesn’t compete aggressively in the sub- $500 list, where it fronts the thousands of other business gunning for the “toy” category.

Atop the roster for Asia is Alibaba’s Jack Ma, at 7th sit with $37.4 billion. Alibaba is China’s top e-commerce participate, and likewise owns wildly successful Taobao retail platform.

Jack Ma, founder of the Alibaba Group.

Image: Getty Images

In November, Alibaba moved $17.8 billion in auctions during its Singles’ Day shop auction — the equivalent of Black Friday in the U.S. Likewise consider that Black Friday only moved $4.45 billion in 2015, in comparison.

In 8th place on the Forbes roll is Pony Ma Huateng, the owner of Tencent at $36.7 billion. Tencent controls, amongst a inundate of network owneds, China’s prevailing messenger app, WeChat.

WeChat’s wallet function is so successful, it’s essentially pervasive in real-life use in China, where people consume it for everything from paying street vendors, to getting the cheque at restaurants and stores by searching a QR code.

Read more: http :// mashable.com/ 2017/08/ 25/ frank-wang-dji-forbes /

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