In the last 12 months, boba & tea chains have turned 9 people into billionaires. One of those names is Junjie Zhang, the founder of Chagee. Zhang founded Chagee when he was just 22 years old! Peer pressure is real for college graduates…
Common denominators among recent tea chains success? Huge scale, with number of outlets in the 5,000+ range, usually through franchising model.
Let’s have a quick look at these chains and their owner’s rise to billionaire status.
1. Shan Weijun & Zhou Rongrong (Auntea Jenny)
This husband-and-wife duo amassed a combined net worth of $1.7 billion following their company’s IPO in Hong Kong in May 2025.
Auntea Jenny has expanded to over 9,100 outlets across China.
2. Junjie Zhang (Chagee)
At just 30 years old, Zhang became a billionaire after Chagee’s Nasdaq debut in April 2025. The IPO raised $411 million, valuing the company at $6.2 billion. Zhang’s nearly 20% stake is now worth approximately $1.1 billion.
3. Yun’an Wang (Guming Holdings / Good Me)
Wang became a billionaire with a net worth of $1.2 billion after Guming Holdings raised $233 million in a Hong Kong IPO in February 2025.
The company operates under the “Good Me” brand and holds a significant market share in China’s bubble tea sector, with store count close to 10,000.
4. Zhang Hongchao & Zhang Hongfu (Mixue Ice Cream & Tea)
The founding brothers of Mixue saw their combined wealth soar to $8.1 billion after the company raised $444 million in its March 2025 Hong Kong IPO.
Mixue now operates over 45,000 stores globally, making it the world’s largest fast-food chain by number of outlets.
5. Wang Xiaokun & Liu Weihong (ChaPanda)
The founders of ChaPanda became billionaires after the company’s Hong Kong IPO in April 2024. They held a 73% stake valued at $2.7 billion at the time of listing.
ChaPanda operates more than 8,000 stores across China.
