Chinese Tea Chain CEO Turns Billionaire at 30 After US IPO

Chagee shares make bullish debut despite listing amid worsening US-China trade war

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A 30-year-old Chinese entrepreneur has become an unlikely billionaire with the listing of his sprawling tea shop chain in the US, even as tensions between the two nations stoke an economic decoupling and market volatility.

With the US IPO market at a near standstill and some analysts questioning whether Chinese stocks will be booted from American exchanges, Mr Zhang Junjie's Chagee Holdings began trading on the Nasdaq on April 17.

Chagee shares rose 40 per cent at 12.10pm in New York, giving him a net worth of US$2.6 billion (S$3.4 billion), according to the Bloomberg Billionaires Index, which is valuing him for the first time. His fortune is solely derived from his stake in Chagee. Representatives from Chagee declined to comment.

Mr Zhang, who is Chagee's chief executive, joins a wave of Chinese people who have made fortunes as fresh tea chains explode in popularity. That includes the two brothers behind Mixue Group, a brand known for US$1 bubble tea, coffee and ice cream, who amassed about US$8 billion combined after the company's debut in Hong Kong earlier in 2025.