LeaderPortfolio
Hongfu
Zhang Hongfu
Rank #766
CHINAFood & BeverageBubble tea

Zhang Hongfu

Net Worth
$5.368B
+6.55% (24h)
Zhang Hongfu, at 42 years old, is the CEO of Mixue Group, the world's second-largest seller of freshly-made drinks, known for its bubble tea and ice cream. His net worth is approximately 6.6 billion USD, a testament to his success. He joined Mixue Group in 2007, which was founded by his elder brother. His career has focused on building Mixue into a global brand with over 50,000 stores worldwide. With an IPO in March 2025, Zhang Hongfu's success has made him a significant figure in the food and beverage industry.

How to read Zhang Hongfu's profile

Public net-worth figures are estimates. They combine observable inputs—typically listed equity, disclosed transactions, and market prices—with editorial judgment where filings are incomplete (for example, private holdings, debt, or cross-holdings). For Zhang Hongfu, we anchor the narrative to Bubble tea and Bubble tea, then update the headline number as markets move. The chart on this page is meant to show trajectory, not a certified balance sheet.

When you see $5.368B alongside global rank #766, interpret it as our best synthesis of widely cited ownership and price signals—not a claim about cash on hand. Estimates can diverge from other publishers because of different treatment of options, trusts, charitable vehicles, or illiquid assets. We document the general approach in methodology and welcome corrections via corrections.

Country (CHINA) and career milestones on this page are curated for reader context; they should be verified against primary sources when used for research. Editorial metadata for this profile is refreshed on a rolling basis, with deeper audits at least annually (last noted cycle: 2026).

Looking for depth? When available, the dossier and timeline sections below add long-form context beyond the headline number—prioritize those modules when evaluating claims about strategy, controversies, or philanthropic commitments.

The Full Dossier

Early Life

Zhang Hongfu, born in China, is a key figure in the global food and beverage market. His journey began when his elder brother, Zhang Hongchao, started a shaved ice shop in 1997. Zhang Hongfu joined the family business, Mixue Bingcheng, in 2007.

Rise to Success

Mixue Group, under Zhang Hongfu's leadership, has become the second-largest seller of freshly-made drinks globally by the number of annual cups sold. The company's expansion has been rapid, with over 50,000 stores, including nearly 5,000 overseas. Mixue's business model focuses on selling affordable products, with many items priced at about $1. This strategy, along with a focus on supply chain management, has fueled significant revenue growth.

Key Business Strategies

The company's success is driven by its franchise model and supply chain. The company earns revenue by selling supplies, including syrup, milk, fruit, and equipment, to its franchisees. Mixue's IPO in Hong Kong in March 2025 raised $444 million, further solidifying its market position. Zhang Hongfu recently moved to the co-chairman role, while still participating in key decision-making and focusing on long-term strategies.

Philanthropy

Information on specific philanthropy initiatives and amounts for Zhang Hongfu is not readily available.

Career Timeline

2026

Appointed Co-Chairman

Moved to the position of co-chairman.

2025

Mixue Group IPO

The company went public in a $444 million Hong Kong IPO.

2017

Appointed CEO of Mixue Group

Took over as CEO of Mixue Group, overseeing its expansion and operations.

2007

Joined Mixue Bingcheng

Zhang Hongfu joined his elder brother's bubble tea and ice cream business.

Philanthropic Impact

Information not available.Information not available.

Information not available.

Information not available.

Key Business Ventures & Holdings

CompanyStakeValue
Mixue Group14.20%$2.22M

Net Worth History

In-Depth Analysis

Early Life

Zhang Hongfu, born in China, is a key figure in the global food and beverage market. His journey began when his elder brother, Zhang Hongchao, started a shaved ice shop in 1997. Zhang Hongfu joined the family business, Mixue Bingcheng, in 2007.

Rise to Success

Mixue Group, under Zhang Hongfu's leadership, has become the second-largest seller of freshly-made drinks globally by the number of annual cups sold. The company's expansion has been rapid, with over 50,000 stores, including nearly 5,000 overseas. Mixue's business model focuses on selling affordable products, with many items priced at about $1. This strategy, along with a focus on supply chain management, has fueled significant revenue growth.

Key Business Strategies

The company's success is driven by its franchise model and supply chain. The company earns revenue by selling supplies, including syrup, milk, fruit, and equipment, to its franchisees. Mixue's IPO in Hong Kong in March 2025 raised $444 million, further solidifying its market position. Zhang Hongfu recently moved to the co-chairman role, while still participating in key decision-making and focusing on long-term strategies.

Philanthropy

Information on specific philanthropy initiatives and amounts for Zhang Hongfu is not readily available.

Data Sources & Methodology

Figures for Zhang Hongfu are synthesized from the sources below and cross-checked against our net worth methodology. Estimates may lag market moves; see corrections to report discrepancies.