Selling Robots: This Man Has a Net Worth of Rp282 Trillion

The humanoid robot business has brought immense fortune to Wang Xingxing. The Chinese entrepreneur now possesses a wealth of up to US$16 billion, equivalent to approximately Rp282.3 trillion.

Wang is the CEO of Unitree Robotics, a company renowned for producing humanoid robots. The 36-year-old only recently joined the ranks of billionaires in early August.

At that time, Forbes recorded Wang’s wealth at US$2.4 billion. His fortune subsequently surged after shares in Unitree Robotics were reported to have soared by 629% last week.

The South China Morning Post noted that this surge brought the company’s market capitalisation to 445 billion yuan, or approximately Rp1,171 trillion.

Shen Meng, Managing Director of Chanson & Co, explained that market enthusiasm is occurring amidst high levels of government support for advanced industries, such as robotics and semiconductors.

“The 62<0xA0>9% increase is in line with expectations,” said Shen.

Shen noted that robots manufactured by Unitree are currently used for research, teaching, and demonstrations. Similar information was disclosed by Unitree in its prospectus.

According to VN Express, Unitree stated that its humanoid robots will be utilised for research and development in the short term, while commercialisation remains in its early stages.

For long-term objectives, humanoid robots are expected to assist in factory and household tasks. This development is anticipated alongside the reduction in hardware costs and advancements in Artificial Intelligence (AI).

The potential for humanoid robots is vast. Global shipments are estimated to reach 1.2 million units by 2030, a significant jump from just 20,000 units last year.

BofA Global Research predicts that the humanoid robot market will reach US$37 billion, or approximately Rp653 trillion, within just five years.