Frank Wang

Founder of DJI (born 1980)

Wang Tao (Chinese: 汪滔; pinyin: Wāng Tāo; born 1980), better known as Frank Wang, is a Chinese aerospace engineer and businessman. He is the founder and CEO of the Shenzhen-based technology company DJI, the world's largest manufacturer of commercial drones.2

From Wikipedia’s article on Frank Wang (this version), CC BY-SA 4.0.

Born 1980.1

Net worth $1.0B (as of Jun 25, 2021).8 Richest people

About

As of December 2020, he has a net worth of US$4.8 billion.

From Wikipedia’s article on Frank Wang, shared under CC BY-SA 4.0.2

Companies

Early life and education

  • Date not recordedHangzhou Foreign Language School3
  • Date not recordedEast China Normal University3
  • Date not recordedHong Kong University of Science and Technology3

Frank Wang was born in 1980 in Hangzhou, Zhejiang Province. He was the son of “a teacher turned small-business owner and an engineer father.” As a child, Wang “spent most of his time reading about model airplanes, a pastime that offered more comfort than his middling grades,” and dreamed of owning his own “‘fairy,’ a device that could fly and follow him with a camera.”

Speaking about when his interest in flying robots first emerged, Frank Wang referenced a comic book in the 1980s called “Dong Naojin Yeye” 动脑筋爷爷 (Grandpa Think-Hard) which featured a red helicopter. Wang explains in an interview, “I remember it so clearly, … I imagined that I’d make a plane like that, that could follow me when I’m hiking or on the train, and use a camera to send the images to me.” At age 16, his parents bought him a toy plane, which he crashed immediately, an early setback that reinforced his fascination with flight.

During high school, Wang met Swift Xie Jia, who would later play a significant role in the development of DJI. Xie joined the company in 2010 to run marketing and act as a confidant; he later sold his apartment to invest in DJI and became one of its largest individual shareholders.

Wang initially enrolled at East China Normal University (ECNU) to study electrical engineering, but dropped out shortly after to reapply to different universities. After facing rejections from his top choices like Massachusetts Institute of Technology and Stanford University, he was later accepted into the Electronic and Computer Engineering program at the Hong Kong University of Science and Technology (HKUST). Reflecting on his studies, Wang said, “At HKUST I took an electronics course that gave me the fundamental knowledge to build autonomously controlled flying machines.”

In 2005, Wang and his team competed in the ABU Robocon competition, winning third prize among teams from across Asia. For his 2005 graduation thesis, rather than selecting a faculty-provided topic, he proposed building an easy-to-use control system for model helicopters.

Wang and two other classmates ultimately received HK$18,000 in funding. On presentation day, however, the helicopter failed to stabilize and crashed, and Wang received a C for the project. He later recalled that he “devoted everything to his final group project, skipping classes and staying up until 5 a.m.”

Wang’s dedication to the project drew the attention of robotics professor Li Zexiang. Li noted Wang’s leadership and technical understanding and admitted him into HKUST’s graduate program, emphasizing that Wang’s poor academic performance was not reflective of his excellence in practical work.

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Founding and early years at DJI

After graduation from HKUST, Wang and his team continued refining the flight-control system and by early 2006 had achieved stable flight and landing. He posted the results on a model airplane forum, offering the system for 50,000 yuan; to his surprise, buyers were willing to pay, even though production costs were significantly lower. Seeing a business opportunity, Wang founded DJI in 2006 with two teammates.

He initially built flight controller prototypes out of his HKUST dorm room. Later that year, Wang and his co-founders moved to Shenzhen, renting a small apartment and funding the venture with remaining scholarship money and family support.

DJI began by selling $6,000 flight-control components to clients including Chinese universities and state-owned power companies, which incorporated them into do-it-yourself drones. “I didn't know how big the market could be,” Wang later said. “Our idea was to just make the product, feed 10 to 20 people and have a team.”

The company initially focused on drone parts such as autopilot systems and gimbals, while aiming to build a complete, ready-to-fly drone. The company sold a modest amount of components during this period, relying as well on financial support from Wang's family friend, Lu Di, who provided US$90,000 and managed the company's finances.

The company struggled during these early years, with a high degree of churn among employees that has been attributed to Wang's abrasive personality and perfectionist expectations of his employees. After two years most of the initial founding team had left the company. Additionally, during this time, an early employee attempted to steal DJI’s intellectual property and sell it to competitors. Wang wanted to sue but couldn’t afford the 70,000 CNY legal fees. Ultimately, Professor Li helped Wang settle the lawsuit and fundraise an additional 1 million CNY in capital to support the company. Li then joined DJI as its chairman.

In 2009, Wang’s team at DJI released the XP3.1 flight control system. A demo they released capturing drone footage of the peak of Mount Everest proved meaningful validation, leading to consistent demand of their XP3.1 system. This product launched DJI into the global spotlight.

From Wikipedia’s article on Frank Wang (this version), CC BY-SA 4.0.

Career

Occupation: entrepreneur.5

  • Date not recordedFounded DJI4

Personal life

  • Born1980, Hangzhou6

Sources

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    WikidataDJI, Founder
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