Qin Yinglin is a Chinese billionaire and the richest farmer in the world. He’s also the 58th wealthiest individual on the planet and the 8th richest person in China as of 2022. Qin has a net worth of $27.6 billion and has built his wealth from breeding pigs.
The self-made billionaire who started his business with only 22 pigs owns Muyuan Foodstuff, his pig farming company based in China. Muyuan is the largest pig breeder in the country. The company is valued at about $57.6 billion.
How did Qin become the richest farmer in the world?
Qin was born in 1965 in Hexi Village, China. His father was poor and was a farmer as well. At one point his father tried to rear pigs but they all died, which motivated Qin to study pig farming at the University.
In 1985 Qin joined Henan Agricultural University in China and graduated in 1989 with a degree in animal husbandry. He got his first job at Nanyang Food Company where he worked for 3 years. In 1992 he quit his job and went back to his hometown of Mashankou to venture into pig farming.
He started with 22 pigs and after 2 years he had about 2000 pigs. By 1997, the billionaire had about 10,000 pigs. In the same year, he was recognized as one of 10 outstanding young farmers in China. The business was growing rapidly and by 2013, Qin was raising 1 million pigs for slaughter every year through his company, Muyuan Foodstuff which he founded in 2000.
During the 2019 outbreak of the African swine fever and the Covid-19 pandemic, Muyuan’s stock prices soared as pork prices went up. His wealth jumped from $4.3 billion in 2019 to $18.5 billion in 2020.
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According to Bloomberg.com, the company realized a profit of $8.2 billion when it slaughtered 18 million pigs in 2020. Today the company is involved in scientific research, feed processing, and pig breeding. Muyuan sells pigs, piglets as well as pork products.
Qin owns about 40% of the company which accounts for most of his wealth. He’s the chair and president of the pig farming company.
The self-made billionaire is married to Qian Ying, whom she met at Nanyang Food Company where he got his first job. Ying holds a degree in Veterinary science from Henan University of Animal Husbandry and Economy. She’s also has a stake in Muyuan making her a billionaire with a net worth of $1.7 billion.
Qin Yinglin lives in Nanyang, China.