Lei Jun: The Visionary Behind Xiaomi's Global Revolution
Lei Jun was born on December 16, 1969. He is an investor and philanthropist in addition to his business credentials. He established the company that would become one of the top tech firms around, specializing in smartphones, smart hardware, and innovative AIoT solutions, all for what, to most people, becomes like "the Steve Jobs of China."
Under his tenure, he took this startup back in 2010 to become one of the most renowned smartphone-making companies in the world and robustly set up an ecosystem for interconnected smart devices. Moving beyond that, Lei Jun was a firm technology innovation promoter and one of the more influential players within the startup circles of China. Today, MI by Xiaomi is a household name that spans mobile phones, televisions, earphones, laptops, bags, trimmers, and whatnot!
Let's look at the biography of the Founder, Chairman, and CEO of Xiaomi, Lei Jun. We will discuss his early life, personal life, education, philanthropy, awards, and more.
Lei Jun Biography
| Name | Lei Jun |
|---|---|
| Born | 16 December, 1969 |
| Nationality | Chinese |
| Age | 55 (2024) |
| Residence | China |
| Education | Wuhan University, BEng |
| Profession | Founder, Chairman & CEO of Xiaomi Chairman of Kingsoft Chairman of UCWeb Inc. Chairman of YY.com Chairman of Shunwei Capital |
| Title | Founder of Xiaomi |
| Spouse | Zhang Tong |
| Children | 2 |
| Net Worth | $27.8 billion |
Lei Jun - Early Life
Lei Jun - Family
Lei Jun - Career Highlights
Lei Jun - A Heavyweight Entrepreneur
Lei Jun - Philanthropy
Lei Jun - Awards and Recognition
Lei Jun - Facts
Lei Jun - Early Life
Life was never easy for Lei Jun. A true entrepreneur that he is, Lei never cratered in front of obstacles and pulled off stuff people would consider daunting. He was born in the city of Xiantao, China. Most of his childhood was plagued with rough phases growing up near the industrial city of Wuhan.
Lei Jun was born on 16th December, 1969, in the underdeveloped area of Hubei, Xiantao. Both his parents were teachers, which was considered a disgraced profession post the Cultural Revolution. From his childhood, Lei Jun showed an interest in electronics and made his first electric lamp using only two batteries, a self-made wooden box, a bulb, and some wires.
He later graduated from Mianyang Middle School in 1987 and graduated from Wuhan University in 1991 with a Bachelor of Science in Computer Engineering. Even while excelling in school, he set up his first company, Gundugoms in the last year of his college. After graduation, he had only one aimâserving the world through his learning.
Lei Jun - Family
Lei Jun was born to a family of teachers, but sadly due to the Cultural Revolution, they always faced hard times. His father only received a salary of $7 a month but always pushed him to study more.
He is currently married to Zhang Tong and they have two children together.
Himaya Presthitha
Lei Jun: Career Highlights
Lei Jun started his career as an engineer in 1992 at Kingsoft. In 1998 he became the brand CEO and it went public on the Hong Kong Stock Exchange in 2007. Unfortunately, on 20th December of the same year, he resigned from the company citing 'health reasons'.
He later founded an online bookstore named Joyo.com, selling it to Amazon at $75 million in the year 2000. A few years later in 2005, he ventured over $1 million into YY, by the time the company came public in 2012, his investment was worth $129 million.
Later in 2008, he became the Chairman of UCWeb but his greatest accomplishment came in 2010 when he founded Xiaomi along with multiple partners. Lei Jun received hefty funding from the Hong Kong billionaire Chan. Chan controlled Hang Lung Properties which backed Morningside Ventures and was a regular investor in Leiâs company for many years. Apart from Chan, Lei also received funds from Qiming Ceyuan and IDG Capital Partners. Xiaomi through its eight co-founders was launched on 6th April 2010. After an aggressive phase of hard work, Xiaomi launched its first Android-based firmware named âMIUIâ. In 2011, the company launched its first smartphone, Xiaomi Mi1 which was followed by Mi2.
With Xiaomiâs entry into the mobile device market, Chinese smartphone buyers now had affordable options. With the right timing and resourceful online marketing opportunities, the company ascended at amazing speed. Within a period of less than five years, Xiaomi stood out as one of the significant smartphone providers in China and also the third largest world manufacturer after Apple and Samsung.
In late 2011 he founded Shunwei Capital together with others, an investment firm that invests in some sectors such as social networks, eCommerce, and mobile developments. In the same year, he again rejoined the Kingsoft brand as their Chairman.
Mi1 was well received and that meant the next version of the smartphone came with more sophisticated features. With the help of Mobicity, the company went on to capture the technology market in countries like the United Kingdom, Australia, and many more. In 2013, the company launched its Smart TV line.
Lie Jun: A Heavyweight Entrepreneur
Xiaomi CEO, Lei Jun is one of those select individuals who have revolutionized the smartphone industry. Xiaomi within three years became the 4th largest company in China and has successfully dominated the software industry. Lei is one of the best businesspersons today. In 1999, 2000, and 2002, he was a member of the Top IT figures, and China Central Television named him as one of the top Business Leaders of 2012. Lei is widely known as âSteve Jobsâ in China for his contribution to the development of smartphones. His entrepreneurial undertaking reaped benefits for China. Xiaomi supports the livelihood of many and has enabled the middle-class section of society to own a smartphone.
"Entrepreneurship is overrated, The secret for success is HARDWORK" -said Xiaomi founder Lei Jun
Lei Jun: Philanthropy
Since 1997 Lei Jun, the owner of Xiaomi company has been donating to his alma mater Wuhan University, starting with a simple donation of Yen140,000. But in 2017 he donated over $1 billion to charity. He has also donated to the following:
- Zhuhai Charity, an organization that provides funds for migrants,
- Village of Yangchun to renovate schools, build mudbrick houses, and construct cultural buildings
- To the victims of the 2013 Lushan earthquake
- Part of Ice Bucket Challenge that aimed to raise money for Amyotrophic lateral sclerosis.
- In 2021, he gave away Xiaomi shares valued at $2.2 billion.
- On their 130th anniversary in 2023, he donated over 1.3 billion Yuan to the Wuhan University.
Devashish Shrivastava
Lei Jun: Awards and Recognition
Some awards and recognitions that Lei Jun has won over the years are:
- Businessman of the Year (2014): Forbes Asia awarded him due to his outstanding performance that has catapulted Xiaomi into international stardom.
- Top 10 Economic People of the Year (2014): He was among China's top economic leaders said to influence the country as identified by CCTV.
- List of 50 Greatest Leaders (2015), Fortune: Ranked 11 on the Fortune magazine annual list with respect to leadership at Xiaomi and innovative business approach.
- Chinese Economic Person of the Year (2017): China Central Television (CCTV), in appreciation of his efforts for the Chinese economy to develop.
- Global 100 Top Innovators 2017: Thomson Reuters has identified it as an innovation stimulant in the revolutionary tech ecosystem of Xiaomi.
- Fortune Global 500 Leadership Award, 2019: During his leadership, Xiaomi was listed on the Fortune Global 500. This company is among the youngest that has been included in the Fortune Global 500.
- Asia Game Changer Awards (2019): Asia Society recognized the transformative impact of this person globally in the tech industry.
- Top 10 Influential Entrepreneurs in China 2020: Award by Hurun Report for being most influential in the tech industry and for his support of entrepreneurship in China.
- Outstanding Entrepreneur Award 2020 National: For his innovative role in driving innovation and industry growth- by All-China Federation of Industry and Commerce.
- China Philanthropy Awards 2021: Highly recognized for his critical philanthropic efforts, significantly in education and disaster recovery.
- Entrepreneur of the Year Award 2022: Ernst & Young China honored him for leadership and business achievements.
- Among Top 50 Influential Business Leaders in China (2023): Featured in Forbes China, as his contributions have been lasting in the field of technology.
Lei Jun: Facts
- Elected as a delegate of the National People's Congress in 2013
- Included in the list of International Sponsors of War maintained by the National Agency on Corruption Prevention in 2023
- In 1991, Lei Jun graduated from Wuhan University with a Computer Science degree. He graduated in just two years, two years ahead of the regular four years.
- Before the formation of Xiaomi, Lei Jun was CEO of Kingsoft, a Chinese software firm. He had made huge contributions to the growth of the firm. In 2007, he took Kingsoft to its IPO, which defined his career.
- Lei Jun has invested in more than 20 startups, including UCWeb and YY Inc., two companies that have become successful. His investments reflect his eye for potential in the tech world.
- Lei Jun adopted a business model for Xiaomi that was quite different from the others. He was inspired by Amazon's low-margin, high-volume approach and combined it with a direct-to-consumer sales strategy, allowing Xiaomi to deliver premium products at competitive prices.
- Lei Jun is also an active philanthropist. He has donated millions to educational institutions, including his alma mater Wuhan University, to foster innovation and development.
- Lei Jun is one of the most influential figures in technology. He was honored as "Businessman of the Year" by Forbes Asia in 2014 and is still being considered for the same contributions the industry has made.
- With much on his plate, as is said, Lei Jun believes and is a book-worm who is particularly intrigued by biographies of entrepreneurial genius, which he holds responsible for inspiring and paving the way for himself into an entrepreneurial journey.
- Under him, Xiaomi became the youngest company to mark itself on the Fortune Global 500 list in 2019 and that was just about nine years after its setup.
FAQs
Who is Lie Jun?
Lie Jun is Xiaomi owner and founder. He started Xiaomi in 2010 and serves as its CEO.
What is Xiaomi founder Net Worth?
The net worth of Xiaomi owner Lei Jun is $27.8 billion as of December 2024.
Who is the CEO of Xiaomi or the Owner of MI?
Lei Jun is the CEO and Co-founder of Xiaomi Inc.
What is Lei Jun education?
He graduated from Wuhan University in 1991 with a Bachelor's degree in computer science.
Who is Lie Jun wife?
Lie Jun is married to Zhang Tong.
When was Lei Jun born?
Lei Jun was born on 16th December 1969.
What is Xiaomi net worth?
Xiaomi market cap as of 31 December 2024 is $111.53 billion.
Where is Xiaomi Made?
The Xiaomi products are mainly assembled in China. Recently it has developed assembly centers in India as well, as India serves as the Worldâs second-largest Smartphone market for Xiaomi. It also has quite a presence in the South Asian Smartphone Market.
Is Xiaomi banned in US?
Though US hasnât outrightly banned Xiaomi. The company is preparing plans to sustain itself, In case of any possible bans in the mere future by the American Government.
Is Poco a Chinese Company?
POCO is a sub-smartphone brand created by Xiaomi in 2018. Xiaomi recently spun off POCO as an independent company based out of China.
Is the Xiaomi company banned by google?
Google removed Xiaomiâs integration with Google Home and Nest products temporarily. Right after a user reported a security Issue. However Xiaomi is getting itself prepared to face the uncertain future with regards to the ban from Google.
Are Xiaomi and MI the same?
They both are same company, but the products are launched with different names in the Indian market. Xiaomi is a Chinese company. Xiaomi, Redmi, MI are the same brands.
