Yu Yong (born 1961)[2] is a Chinese businessman. He is the founder and head of the Cathay Fortune Corp., also known as Hongshang Industrial Holdings Group which is an investor in the mining company China Molybdenum.[3] Cathay Fortune's operations are based out of Shanghai.[4] As of March 2024, Forbes estimated his net worth at US$10.0 billion.[5]
In 2012, Cathay made a AUS$830 hostile bid to takeover the Australia-based Discovery Metals. The bid was made with loans from the China-Africa Development Fund.[6][4] Cathay walked away from the deal, due to concerns about the Boseto copper project in Botswana.[7]
Personal life
Yu is married and lives in Shanghai, China.[5]
References
- Bloomberg Billionaires Index: #318 Yu Yong Bloomberg, retrieved 2022-06-13^
- 于泳家族：十年前资本狙击洛钼 种下财富基因 Phoenix News, 21 July 2014, retrieved 9 August 2017^
- China Molybdenum triples on Shanghai debut; stock deemed undervalued Reuters, 9 October 2012, retrieved 5 January 2017