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CEO’s Wealth Hits $33 Billion as Unprofitable Chinese Medicine Firm’s Stock Soars

Takeaways by Bloomberg AI

A blistering rally in a tiny, money-losing traditional Chinese medicine company’s stock has vaulted its founder’s net worth to among the world’s largest fortunes.

The firm, Hong Kong-based Regencell Bioscience Holding Ltd., was for all intents and purposes trading as a microcap stock on the Nasdaq just eight weeks ago. But its shares have since exploded, gaining more than 82,000% since its Feb. 13 low. The move has boosted the value of Chief Executive Officer Yat-Gai Au’s 86% stake to $33.3 billion, according to the Bloomberg Billionaires Index, making Au’s paper wealth greater than rich-list stalwarts such as Phil Knight and Masayoshi Son.