The Caribbean Has Two Billionaires But Neither Were Born There


Caribbean News, Latin America News:


Compiled By NAN Business Editor

News Americas, NEW YORK, NY, Fri. April 1, 2020: In a world of 2,095 billionaires, just two are considered to be technically from the Caribbean, even though neither were born there.

The 2020 Forbes list of billionaires show that both are residents of the Eastern Caribbean island of St. Kitts and Nevis. Both are ranked as the 1,851st richest billionaires in the world.

They are Myron Wentz and Wu Xu.

Myron W. Wentz is the founder, chairman and former CEO of USANA Health Sciences, a Utah-based multi-level marketing company that produces various nutritional products and supplements is listed as a billionaire of St. Kitts on the Forbes 2019 Billionaire list.

Wentz is the American born founder of USANA, a multi-level marketing company that sells nutritional supplements and skincare products. The 80-year-old has a net worth of $1.1 B and owns 42% of the business, which trades on the NYSE and has $1.2 billion in net sales. He took it public in 1996.

Wentz renounced his American citizenship in the mid-1990s and claims citizenship in St. Kitts & Nevis. He is married and has 3 children.

Wu Xu is listed as the second richest Caribbean “national” and its second only billionaire.

Xu, 56, was born in Chongqing, China and now holds citizenship in St. Kitts & Nevis.

Xu chairs Chongqing Sincere Holding Group, one of the largest real estate developers in the central Chinese city of Chongqing. His net worth is also put at US 1.1 billion.

Xu worked at state-run construction businesses before taking the plunge himself as an entrepreneur. He has a master’s in Business Administration from Chongqing University.

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