A relative newcomer in the field of solar energy, Peng Xiaofeng’s wealth soared dramatically over a period of only a few years. Just last year, he was worth a whopping $3.85 billion, but his net worth decreased to ‘just’ $2.5 billion in 2008 after allegations by a former employee that his company, LDK Solar, had inflated inventory figures of a key raw material, polysilicon.

Peng’s business began as a safety-product manufacturing plant, until he realized that no Chinese company as of that time was producing solar wafers, a key component of solar panels that make up 25% of their cost. He poured millions of his own fortune and $80 million in venture financing into his new operation, and soon LDK Solar began its rocky journey through the solar industry.

Tomorrow: #2- Shi Zhengrong, Suntech Power