Smoore International HoldingsThis story is part of Forbes' coverage of China’s Richest 2020. The growing global popularity of vaping helped create one of the highest-ranking newcomers to this year’s list. Smoore International Holdings Chairman and CEO Chen Zhiping, 44, debuts at No. 47 with a fortune of $9.55 billion as Smoore’s shares have roughly tripled from its IPO price following its July listing in Hong Kong. Nearly half of its sales are from mainland China and Hong Kong, with about a fifth from the U.S. Smoore earned 2.1 billion yuan last year ($300 million) as sales more than doubled from 2018, to 7.6 billion yuan.

Source: Forbes November 11, 2020 10:54 UTC