Mao Wenchao Net Worth

Mao Wenchao has an estimated net worth of $1.9 billion, according to Forbes Real-Time Billionaires, Mao Wenchao profile (figures as of October 20, 2026). That is up from $1.8 billion in 2022.

Mao Wenchao, also known as Charlwin Mao, is the CEO and co-founder of Xiaohongshu, a Shanghai-based social media and e-commerce platform. Before starting the company, he studied at Shanghai Jiao Tong University and later attended Stanford for MBA studies. He then worked at Bain & Company and Bain Capital. Those roles gave him experience in consulting, investing, and business building before he moved into tech and online retail.

His biggest career move came in 2013, when he co-founded Xiaohongshu with Miranda Qu. The platform grew into a major social and shopping app, reaching over 300 million users by December 2025. In 2023, Xiaohongshu's revenue passed CNY 10 billion, or USD 1.4 billion. Forbes says Mao's wealth comes from e-commerce, and it places him in the Fashion & Retail industry. Forbes' current estimate is $1.9 billion as of October 20, 2026.

How Mao Wenchao makes money

Mao's wealth is tied to Xiaohongshu, the Shanghai-headquartered company he leads as CEO. He co-founded the business in 2013 with Miranda Qu. The platform combines social media with e-commerce, which connects his fortune to both online shopping and digital content. Forbes categorizes his source of wealth as e-commerce. Because he is a co-founder and chief executive, the company's growth has been the main driver of his financial profile.

Earlier in his career, Mao worked at Bain & Company and Bain Capital. He also spent time in exchange programs and MBA studies focused on business and technology. That path helped shape the mix of strategy, finance, and product thinking behind Xiaohongshu. As the company expanded, it built a large audience and a stronger business. By December 2025, it had over 300 million users, and in 2023 its revenue topped CNY 10 billion.

How Forbes' estimate changed

Forbes has tracked Mao's wealth across several years. It estimated him at $1.8 billion on the 2022 World's Billionaires List, then $1.3 billion on the 2023 list. Forbes kept that same $1.3 billion estimate in 2024 and again in 2025. Those shifts show that billionaire rankings can move even when the underlying business remains large and well known in China's consumer internet market.

In 2026, Forbes raised its estimate to $1.9 billion on the World's Billionaires List, and its real-time billionaires tracker also showed $1.9 billion in October 2026. The business backdrop in the public record is a platform with over 300 million users by December 2025 and revenue above CNY 10 billion in 2023. Mao is also listed by Forbes as self-made, which fits his rise from finance and consulting into founding Xiaohongshu.