He Xiangjian
China
Net Worth
$25B
Source of Wealth
Midea Group
Global Rank
#49 of 100
About He Xiangjian
He Xiangjian is the founder of Midea Group, one of the world's largest home appliance and consumer electronics companies. Starting with just 5,000 yuan and a small workshop in Beijiao, Guangdong Province in 1968, He built Midea into a global manufacturing powerhouse with annual revenues exceeding $50 billion. His story is one of the most remarkable examples of entrepreneurial success in Chinese business history, spanning the full arc of China's economic transformation from a planned economy to a global manufacturing superpower.
He Xiangjian's genius lies in his ability to combine manufacturing excellence with strategic vision. Under his leadership, Midea grew from making bottle caps and plastic lids to becoming the world's largest producer of major home appliances, including air conditioners, refrigerators, washing machines, and small kitchen appliances. The company's acquisition of the German robotics firm KUKA in 2017 signaled He's vision for the future of smart manufacturing and automation.
Despite retiring from day-to-day management in 2012, He remains the largest shareholder and a guiding influence on Midea's strategic direction. He is also one of China's most generous philanthropists, having donated billions of yuan to education, healthcare, and community development in Guangdong Province. His journey from a humble workshop to building a Fortune 500 company is a testament to the power of perseverance, innovation, and the opportunities created by China's remarkable economic opening.
Key Achievements
Built Midea into a Global Giant
Grew Midea from a tiny workshop with 5,000 yuan in capital into one of the world's largest home appliance companies, with annual revenues exceeding $50 billion and operations spanning the globe.
World's Largest Appliance Maker
Made Midea the world's largest manufacturer of major home appliances, producing more air conditioners, refrigerators, and washing machines than any other company.
KUKA Robotics Acquisition
Acquired the German industrial robotics company KUKA for $5 billion, positioning Midea at the forefront of industrial automation and smart manufacturing.
Fortune 500 Company
Led Midea to Fortune 500 status, making it one of the most successful private enterprises in Chinese history and a globally recognized brand in consumer appliances.
Philanthropic Leadership
Donated billions of yuan to education, healthcare, and community development, particularly in his home province of Guangdong, improving the lives of millions of people.
Notable Quotes
“Start small, think big. Every great company begins with a single step.”
— He Xiangjian
“The key to manufacturing is never being satisfied with good enough. Always pursue better quality, lower cost, and faster delivery.”
— He Xiangjian
“A company must benefit its employees, its customers, and its community. Only then can it truly succeed.”
— He Xiangjian
Key Decisions
Founded a small workshop in Beijiao with 5,000 yuan and 23 neighbors, taking the first step in what would become one of the greatest entrepreneurial journeys in Chinese history.
Pivoted the company into fan manufacturing, entering the home appliance market that would become the foundation of Midea's global empire.
Listed Midea on the Shenzhen Stock Exchange, accessing public capital markets to fund the company's rapid expansion into air conditioning and other major appliance categories.
Completed the $5 billion acquisition of KUKA, the German industrial robotics leader, signaling Midea's transformation into a technology-driven manufacturing conglomerate.
Stepped back from day-to-day management and handed leadership to professional managers, demonstrating confidence in the institutional strength he had built and ensuring long-term succession planning.
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