Yun’an Wang the 30-year-old founder of Guming Holdings which owns the Chinas popular GoodMe bubble tea brand has emerged as the countrys latest billionaire boasting an estimated net worth of $1.1 billion according to various reports. Wangs Guming Holdings recently raised a staggering $233 million in its initial public offering (IPO) at the Hong Kong stock exchange surging his personal net worth across the $1 billion and earning him entry into the coveted billionaires club. Who is Yun’an Wang? Born in a middle-income home in Daxi in Zhejiang province near Shanghai Yunan Wangs parents ran a small business near the Myanmar border. In 2010 Yun’an Wang earned a bachelor’s degree in materials science and engineering from the Zhejiang Sci-Tech University and soon embarked on his entrepreneurial journey which would ultimately make him a billionaire 15 years later. Wang opened his first store in his hometown Daxi however business was tough during the initial phase with the shop rarely having any customers on most days and the young entrepreneur would rarely sell tea worth 100 yuan (Rs 1189) if he was lucky. However Wang persevered and continued stay afloat in the market and this perseverance paid off as his brand eventually began to catch on and business started flourishing. Wang continued to expand and currently has over 10000 stores across China with GoodMe being the second-largest freshly made bubble tea  brand in terms of total sales and the total number of stores at the end of 2023 according to the research cited in the companys IPO prospectus. Wangs Guming Holdings raised $233 million in its IPO with the companys shares fetching $1.3 each at 6.4 percent. GoodMe boasted a 9.1 percent market share at the end of 2023 and is ranked among the type top five bubble tea brands in China. In an 2023 interview with the Southern Metropolis Daily Wang said he was not worried about a price war as he was already used to this strategy being employed by the dozens of new bubble tea brand that pops up each year. What is Bubble Tea? Bubble tea or Boba Tea has emerged as global trend especially among younger consumers in China and other countries. The concoction originated in Taiwan and has surged in popularity thanks to strong cultural ties with China customisation options and visually appealing drink. The bubble tea industry has witnessed intense competition in recent times however Wang’s business acumen has positioned Guming Holdings as one of the leading players in China’s growing bubble tea market.