Xiaomi’s founder and CEO Lei Jun has become China’s richest person, as his company’s shares recently increased by nearly 6% and raised its total market value to over HK$1.4 trillion (around US$180 billion).

This represents a record high for Xiaomi at HK$56.8 (around US$7.3). The company has experienced a stock price increase of more than 570% since its low of HK$8.31 (around US$1.07) in October 2022.

Current estimates place his wealth at approximately 440 billion yuan (around US$60.6 billion), surpassing Zhang Yiming of ByteDance.

His wealth is largely due to his 24.2% stake in Xiaomi, valued at around 341.2 billion yuan (around US$46.99 billion).

Additionally, he owns a 51% stake in Shunwei Capital, an investment firm engaged in successful technology investments.

Analysts have expressed a positive outlook on Xiaomi’s future growth. Goldman Sachs recently raised its price target for Xiaomi’s stock from HK$38 (around US$4.89) to HK$58 (around US$7.46).

Recent Xiaomi developments