Li Shufu was born in Taizhou, Zhejiang, China in 1963. Li was launched as the founder and chairman of Geely Automobile in 1986, which is the second largest private automobile manufacturer in China. Currently, Li resides in Hangzhou, the capital city of Zhejiang province.
Geely Group sponsored China Jia B League team Guangzhou F.C. in 2001. However, after the 2001 China Jia B League Match Fixing, at the end of the season, Li Shufu ended his involvement sponsoring football and was quoted as saying, "We won't come back until the Chinese football environment gets better."
On 28 March 2010, Geely signed a deal worth US$ 1.8 billion to buy Volvo Cars from American automobile manufacturer Ford Motor Company. It was the largest foreign purchase by a Chinese car manufacturer. Along with $900m of working capital from Geely and a commitment to build a Volvo factory in China, Mr Li has a target of driving sales to 600,000 by 2015 in the domestic market.
In 2013, Hurun Report ranked Li No. 63 richest person in mainland China and had a net worth of US$ 2.6 billion.