22-04-2025
Chagee tea boss becomes billionaire after Nasdaq debut
Published on: Tuesday, April 22, 2025
Published on: Tue, Apr 22, 2025 Text Size: A Chagee branch at Imago - (Pic by Imago Shopping Mall) Zhang Junjie, a 30-year-old Chinese entrepreneur, has become a billionaire after his tea chain, Chagee Holdings, surged up to 40 percent on its Nasdaq debut on April 17, boosting his net worth to US$2.6 billion, according to Bloomberg. Despite US-China tensions and a sluggish IPO market, Zhang chose New York for Chagee's listing as Hong Kong faces market saturation and waning investor interest in new tea ventures, according to The Straits Times. Founded in 2017 in Yunnan, Chagee blends modern retail with traditional Chinese tea culture and has become a major player in China's beverage scene. Zhang joins a wave of wealthy tea entrepreneurs, including Mixue Group's founders, as the sector grapples with rapid growth, market oversupply, and cautious investors. * Follow us on Instagram and join our Telegram and/or WhatsApp channel(s) for the latest news you don't want to miss. * Do you have access to the Daily Express e-paper and online exclusive news? Check out subscription plans available.
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