Truck driver turned builder is a billionaire

[SHANGHAI] Wong Choihing, a former truck driver, has become a billionaire as shares of Hydoo International Holding Ltd, a Chinese trade centre developer he leads, soared more than 70 per cent since its debut in October.

Shares held by Mr Wong's family, which includes that of his son Wong Kim, his siblings and their families, are worth more than US$1.1 billion, according to the Bloomberg Billionaires Index. They own about 60 per cent of the company, according to Hong Kong stock exchange filings. He has never appeared on any wealth rankings.

Mr Wong, also known as Laowu, or the fifth child in a family, used to be a long-distance truck driver, according to Peter Fuhrman, who runs China First Capital and is Hydoo's investment banker.