Chinese billionaire Larry Xiangdong Chen loses $14 billion since January

Alexandra Dimitropoulou, PhDJune 3, 2021

Larry Xiangdong Chen, the CEO of Chinese online education firm GSX Techedu, has seen his net worth tumble by billions, and is closing in on losing his billionaire status.

Larry Xiangdong Chen, who was once a school teacher at an impoverished Chinese village, is the founder and chairman of GSX Techedu, a U.S.-listed education firm that went public on the New York Stock Exchange in 2019.

The shares of his company GSX Techedu, which provides online educational courses up to 12th grade in China, has seen 88% fall since January, wiping almost US$14 billion from his net worth.

On Wednesday alone, GSX Techedu Inc. fell 4% in New York trading after Goldman Sachs Group Inc downgraded the stock to “neutral” from “buy” and drastically cut its price target from $60 to $20 on expected slower enrollment and revenue growth.

Larry Xiangdong Chen currently owns 43.5% of GSX Techedu’s shares outstanding and his net worth peaked at $15.85 billion on January 27. Chen now has a net worth of $1.9 billion.

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Alexandra Dimitropoulou, PhD

Alexandra Dimitropoulou, PhD in Cross-Cultural Media Innovation & Global Editorial Strategy, is the senior Business and Finance Editor at CEOWORLD Magazine, where she brings a global perspective and sharp editorial judgment to the forefront of business journalism. With over 12 years in financial media and corporate strategy, Alexandra has cultivated a reputation for her ability to translate complex financial topics into compelling narratives that resonate with C-suite audiences.

Before joining CEOWORLD, she was a senior correspondent for a top financial news outlet in New York and a communications advisor to several multinational investment firms. Alexandra's editorial direction bridges the technical world of finance with the storytelling finesse of PR, covering topics from M&A trends to CEO brand management. She leads a diverse team of analysts, journalists, and strategists focused on producing high-impact stories on global markets, leadership, and reputation management.

She holds an MBA in Finance and a bachelor's in International Relations. She frequently moderates panels on women in finance and strategic communications at international business summits. Her mission at CEOWORLD is to elevate financial literacy and leadership visibility through journalistic excellence and brand-savvy storytelling.

Email Alexandra Dimitropoulou at alexandra@ceoworld.biz

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