WORLDKINGS - Worldkings News - Asia Records Institute (ASRI) – Frank Wang: World's first drone billionaire

27-10-2021

(WorldKings.org) The founder of the world’s biggest maker of civilian recreational drones has become the youngest Asian technology billionaire on Forbes magazine’s 100 Richest in Tech list, at the age of 36.

Wang Tao, better known as Frank Wang, is a Chinese billionaire entrepreneur, engineer, and the founder and CEO of the Shenzhen-based technology company DJI, the world's largest manufacturer of commercial drones.

Wang was born in Hangzhou, Zhejiang province. He showed an interest in flight and airborne devices from a young age, but received mediocre grades as a schoolchild. He attended the Hong Kong University of Science & Technology (HKUST) for college, and drew the attention of math professor Li Zexiang following an impressive performance on a class project to build a helicopter flight control system.

Wang built the first prototypes of DJI's projects in his dorm room, selling the flight control components to universities and Chinese electric companies. He used the proceeds to move to the industrial hub of Shenzhen and hired a small staff in 2006.

In 2010, Wang hired a high school friend, Swift Xie Jia, to run the company's marketing. DJI began to cater more to drone hobbyists in markets outside of China.

In 2015, DJI eclipsed the success of the Phantom with the release of the Phantom 3, whose even greater popularity was in part due to the addition of a built in live-streaming camera. DJI became the largest consumer drone company in the world, driving many of its competitors out of the market over the following years. In 2017, Wang became Asia's youngest tech billionaire. By 2020, DJI held nearly 77% of the US market share for consumer drones, with no other company holding more than 4%.

The founder of the world’s biggest maker of civilian recreational drones has become the youngest Asian technology billionaire on Forbes magazine’s 100 Richest in Tech list, at the age of 36. As of December 2020, he has a net worth of US$4.8 billion.

 

According to wikipedia/forbes


Brian (Collect & Edit) - WORLDKINGS (Source of photos : internet )

 

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