Xiaomi CEO Lei Jun's net worth has soared to $35.3 billion, making him the fifth richest billionaire in China. The surge is attributed to a 250% rally in Xiaomi's shares over the past year, fueled by investor optimism surrounding the company's electric vehicle business. Lei's fortune has more than tripled since April 2024, exceeding $10.9 billion.
Xiaomi CEO Lei Jun speaks at a press conference in August 2023 in Beijing. The CEO enjoys star status on Chinese social media.Lei Jun, founder of Chinese tech giant Xiaomi, is now the fifth richest billionaire in China after company shares rallied 250% over the past 12 months. Xiaomi’s investors are increasingly bullish on Lei’s electric vehicle business.
The rally is partly driven by Xiaomi’s smartphone business, which is selling more high-end, profitable devices. Nowby market share, the company is also benefiting from investors’ growing interest in China’s technology companies after DeepSeek’s January release of a cost-effective AI model. That has led investors to bet on more breakthroughs coming out of China, Eric Wen, head of research at Hong Kong-based research firm Blue Lotus Capital Advisors, says by messages sent via WeChat.
“He is a super salesman,” Zhang says. “This is something other emerging automakers don’t have. Plus, the car itself is quite good. It is better than the products from many new and traditional automakers.”
MIAMI ELECTRIC VEHICLES STOCK MARKET BILLIONAIRES TECHNOLOGY
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