To Chuanfu! Thanks for Everything, Warren Buffett
 

<p>Filed under: <a href="http://www.autoblog.com/category/china/" rel="tag">China</a>, <a href="http://www.autoblog.com/category/earnings-financials/" rel="tag">Earnings/Financials</a>, <a href="http://www.autoblog.com/category/celebrities/" rel="tag">Celebrities</a></p><a href="http://www.bloomberg.com/apps/news?pid=20601080&sid=aJ2 CNtienA9g"><img vspace="4" hspace="4" border="1" src="http://www.blogcdn.com/www.autoblog.com/media/2009/10/chuanfu-byd-contemplative-getty-630.jpg" alt="" /></a><br /> <br /> Wang Chuanfu (above), the founder of Chinese battery manufacturer and automaker BYD is reportedly the richest man in all of China. Already a wealthy man, <em>Bloomberg</em> reports that Chuanfu has jumped a startling 102 places to land himself atop Hurun Rich List, an annual wealth index chronicling the country's richest people. <br /> <br /> How did this happen? Chuanfu made nice with "The Oracle of Omaha" Warren Buffett, and the investor has paid him back - handsomely. The iconic businessman's Berkshire Hathaway Inc. took a 10% stake in BYD this year, and the stock feeding frenzy that resulted pushed Chuanfu's personal wealth from a piffling $880 million up to a get-Robin-Leach-on-the-horn $5.1 billion. Buffett himself <a href="http://www.autoblog.com/2009/08/04/warren-buffett-reportedly-rakes-in-1b-profits-on-byd-in-less-than-one-yea/">pocketed a billion from the relationship</a> in short order, too.<br /><br />Of course, <em>Bloomberg</em> notes that it also helps that BYD's B3 sedan has become China's best-selling automobile this year, and presumably the demand for high-capacity rechargable batteries for everything from phones and laptops to hybrid autos isn't going anything but up.<br /> <br /> Either way, we wouldn't be surprised to learn that Chuanfu plans on repaying Buffett's favor come holiday season by sending him the mother of all fruit baskets.<br /> <br /> [Source: <a href="http://www.bloomberg.com/apps/news?pid=20601080&sid=aJ2 CNtienA9g">Bloomberg</a> | Image: Bill Pugliano/Getty]<br /> <br /><p style="padding:5px;backgr ound:#ddd;border:1px solid #ccc;clear:both;"><a href="http://www.autoblog.com/2009/10/02/to-chuanfu-thanks-for-everything-warren-buffett/">To Chuanfu! Thanks for Everything, Warren Buffett</a> originally appeared on <a href="http://www.autoblog.com">Autoblo g</a> on Fri, 02 Oct 2009 18:29:00 EST. Please see our <a href="http://www.weblogsinc.com/feed-terms/">terms for use of feeds</a>.</p><h6 style="clear: both; padding: 8px 0 0 0; height: 2px; font-size: 1px; border: 0; margin: 0; padding: 0;"></h6><a href="http://www.autoblog.com/2009/10/02/to-chuanfu-thanks-for-everything-warren-buffett/" rel="bookmark" title="Permanent link to this entry">Permalink</a>&nbsp;|&nbsp;<a href="http://www.autoblog.com/forward/19182356/" title="Send this entry to a friend via email">Email this</a>&nbsp;|&nbsp;<a href="http://www.autoblog.com/2009/10/02/to-chuanfu-thanks-for-everything-warren-buffett/#comments" title="View reader comments on this entry">Comments</a>

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