Du Shuanghua and the Sale of Rizhao Steel in 2010
In 2019, Du Shuanghua made headlines when he successfully sold Rizhao Steel, a steelmaking company in Shandong Province, producing 14 million tonnes. This sale was hailed as one of a foreign company’s most successful Chinese acquisitions to date. Let’s look at Du Shuanghua and his career path leading up to this legendary business deal.
Du Shuanghua made his first foray into the steelmaking industry by acquiring a small steel mill in Hebei Province. This mill was renamed Rizhao Steel and became the foundation of Du’s future empire. Over the next decade, Du would acquire several other steel mills, making Rizhao Steel one of China’s largest steelmakers.
In 2010, Du Shuanghua made headlines with the sale of Rizhao Steel to a Hong Kong-based investment group. The deal was reportedly worth $US$2300 million, making it one of the most successful Chinese acquisitions of a foreign company.
Since the sale of Rizhao Steel, Du Shuanghua has continued to be active in the steelmaking industry. In 2013, he founded DSH Group, a leading steel trading company specialising in China and overseas. With his experience and expertise in the steelmaking industry, Du Shuanghua will play a significant role in China’s ongoing development and prosperity.
Du Shuanghua has been confirmed as a self-made billionaire with a net worth of $1.4 billion. He is a charitable man, and in 2016 he founded the Du Shuanghua Education Foundation to provide scholarships and financial assistance to students from low-income families.
Du has kept his curve on the Forbes list of billionaires with his financial steps. The steel industry is a tough one to be in, and it takes more than luck to stay on top; Du has done just that for over two decades now. This makes him one of the most successful business people in China.
Du Shuanghua’s success story inspires all who seek to make it big in the business world. Du has become one of China’s most successful entrepreneurs through hard work and determination.