Net Worth
$25B
Global Rank
#49
Source
Midea Group
Country
China
$How He Xiangjian Built Their Fortune
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.
vs$25B in Perspective
To put He Xiangjian's $25B fortune into context, here's what that wealth could buy:
Median U.S. household incomes
At $59,384/year
Median U.S. homes
At $420,000 each
Tesla Model 3s
At $38,990 each
Four-year college degrees
At $108,000 average
NFL franchises
At $4.7B average
Private islands
At $15,000,000 each
Key Wealth Milestones
1968
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.
1980
Pivoted the company into fan manufacturing, entering the home appliance market that would become the foundation of Midea's global empire.
1993
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.
2017
Completed the $5 billion acquisition of KUKA, the German industrial robotics leader, signaling Midea's transformation into a technology-driven manufacturing conglomerate.
2012
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.
Where He Xiangjian Ranks
Top 71% of the world's wealthiest · 167 tracked
Nearest by Rank
Richest People in China
He Xiangjian on Wealth & Success
“Start small, think big. Every great company begins with a single step.”
“The key to manufacturing is never being satisfied with good enough. Always pursue better quality, lower cost, and faster delivery.”
“A company must benefit its employees, its customers, and its community. Only then can it truly succeed.”
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AI-Generated Content — This profile was created using AI and publicly available sources. While we strive for accuracy, details may contain errors or be outdated. Quotes may be paraphrased or taken out of context. Achievements and figures are based on public reporting and may not be precise. This profile does not imply endorsement by the individual featured. Not financial advice.