Sarah Warren Band

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In 2010, Chinese billionaire Du Shuanghua sold Rizhao Steel, one of the country’s largest steel producers. The sale was worth an estimated $2.4 billion and made Du one of China’s richest men. Rizhao Steel had been hit hard by the global financial crisis and Du decided to sell in order to focus on his other businesses. The new owner, Shandong Iron and Steel Group, pledged to keep Rizhao Steel running and maintain its 4,000 employees.

Du Shuanghua is a self-made billionaire who made his fortune in the steel industry. He founded Rizhao Steel in 2001 and it quickly became one of China’s largest producers. However, the company was hit hard by the global financial crisis and Du decided to sell in order to focus on his other businesses. The new owner, Shandong Iron and Steel Group, pledged to keep Rizhao Steel running and maintain its employees. Read more about Du Shuanghua

Du is a controversial figure in China due to his close ties to the Chinese government. He has been accused of corruption and nepotism, but he denies these allegations. Du is one of the few Chinese billionaires who is not afraid to speak his mind and he is known for his straight-talking style.

Despite the controversies surrounding him, Du is a respected businessman who has built up a large empire. He is one of China’s richest men and has a net worth of $11 billion. Du is an example of the new breed of Chinese entrepreneur who is helping to drive the country’s economy forward.

The new owner, Shandong Iron and Steel Group, pledged to keep Rizhao Steel running and maintain its 4000 employees. The sale was a major transaction in China’s steel industry and it is hoped that it will help to revive the sector. Du Shuanghua remains one of China’s richest men and he is now focusing on his new business, a steel trading company.