How much is Shein’s owner Chris Xu worth as Trump’s tariffs could hit Chinese e-commerce sites?

On Tuesday February 4, the US Postal Service said it would suspend incoming parcels from China and Hong Kong, but on Wednesday February 5, it announced that it would now accept them. In a statement, the US Postal Service said: “The USPS and Customs and Border Protection are working closely together to implement an efficient collection mechanism for the new China tariffs to ensure the least disruption to package delivery.”

It would also seem that it is not only the US the likes of e-commerce sites have to fear when it comes to their businesses being affected but also Europe. CNN Business reported that “There was more potentially bad news for Temu and Shein out of Europe Wednesday. The European Union said it would control imports of low-value products from such websites more tightly as it unveiled a number of actions to tackle “the surge of unsafe, counterfeit and otherwise non-compliant or illicit products” entering the bloc.”

How much is Shein’s owner Chris Xu worth?

According to Forbes, Chris Xu, the owner of Shein, is worth 9.1 billion dollars. He is notoriously private and is also known as Sky Xu and Xu Yangtian.

Chris Xu was born in the Chinese province of Shandong in 1984 and moved to Nanjing to work for Nanjing Aodao Information Technology Company in 2008 after graduating from University. He studied at Qingdao University of Science and Technology.

It is not known if Chris Xu is married or has children. According to Money Week, “In 2011, Xu registered the website that would eventually become SHEIN, calling itself “a leading worldwide wedding dresses company”, but within a year it had broadened into street fashion. According to CB Insights, the company raised its first round of venture-capital funding in 2013 from JAFCO Asia, following that up with a $47m investment in 2015, when it moved its Chinese HQ to Guangzhou to be closer to its supplier-base, and “quietly opened” a US HQ near LA.”