Lei Jun Then and Now

Lei Jun Then

Lei Jun, born on December 16, 1969, in Xiantao, Hubei, grew up in an underdeveloped area of rural China. 

His early years were shaped by the backdrop of a post-Cultural Revolution in China, where his parents worked as teachers—a profession that had lost much of its status during that time. 

His father’s monthly earnings amounted to only $7, reflecting the modest economic conditions of the family. 

Despite these challenges, Lei Jun displayed a keen interest in technology from a young age, specifically in electronics. 

His fascination with dismantling and reassembling radios was supported by his father, nurturing his budding curiosity in engineering. 

One of his early inventions was the construction of a simple electric lamp for his village, which was made using basic materials such as batteries, a bulb, and a handmade wooden box. 

This inventive streak would lay the foundation for his future endeavors in technology.

In 1987, Lei Jun graduated from Mianyang Middle School and enrolled at Wuhan University, one of China’s prestigious institutions. 

There, he pursued a degree in Engineering, graduating with a Bachelor of Science in 1991. 

During his time at university, Lei Jun was not only a dedicated student but also an entrepreneur at heart. 

He started his first company, Gundugoms, during his final year in college, showcasing his ability to balance academics with innovation. 

His commitment to learning and passion for business positioned him for success in the tech industry. 

These early experiences helped shape Lei Jun into the visionary leader who would later found Xiaomi, one of the world’s leading technology companies.

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Lei Jun Business Career

In 1992, Lei Jun began his professional career as an engineer at Kingsoft, a software company that played a significant role in China’s technology landscape. 

His dedication and leadership abilities quickly propelled him through the ranks, and by 1998, he had ascended to the position of CEO. 

Under his guidance, Kingsoft experienced significant growth and innovation, culminating in an initial public offering (IPO) on the Hong Kong Stock Exchange in 2007. 

This milestone not only solidified Kingsoft’s position in the market but also demonstrated Lei Jun’s acumen as a leader in the tech industry. 

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However, shortly after the IPO, he resigned from his role as president and CEO, citing “health reasons,” indicating the immense pressure that accompanied such high-stakes leadership.

In addition to his work at Kingsoft, Lei Jun showcased his entrepreneurial spirit by founding Joyo.com in 2000, which was an online bookstore that catered to the growing demand for e-commerce in China. 

His vision and execution paid off when he sold the platform to Amazon.com for $75 million in 2004, marking a significant achievement in his career. 

Following this success, he made a strategic investment in YY, a social platform, in 2005, which proved to be exceptionally lucrative when YY went public in 2012, increasing the value of his initial $1 million investment to $129 million. 

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These ventures not only underscored his capabilities as a businessman but also positioned him as a forward-thinking investor in the rapidly evolving digital landscape.

In 2010, Lei Jun co-founded Xiaomi, a tech company that would soon revolutionize the smartphone market and become one of the world’s leading consumer electronics brands. 

Collaborating with former Google executive Lin Bin and other partners, Lei Jun’s vision for Xiaomi was to create high-quality technology products at affordable prices, making cutting-edge technology accessible to a broader audience. 

However, his journey has not been without controversy; in 2023, he was named among a group of Xiaomi officials by the National Agency on Corruption Prevention for maintaining business operations in Russia following the 2022 invasion of Ukraine, highlighting the complexities of international business in a politically charged environment.

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In addition to his entrepreneurial pursuits, Lei Jun co-founded Shunwei Capital in 2011, an investment firm focusing on the e-commerce, social networking, and mobile industries. 

Through Shunwei Capital, he continued to influence the tech ecosystem by backing innovative companies. 

That same year, he returned to Kingsoft as chairman, reaffirming his commitment to the company and its ongoing evolution in the competitive tech landscape. 

These diverse experiences reflect Lei Jun’s multifaceted contributions to technology and business, solidifying his legacy as one of China’s most influential entrepreneurs.

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Lei Jun’s Wife and Children

Lei Jun is married to Zhang Tong, and together they have two children. 

Balancing his high-powered career with family life, Lei Jun has often emphasized the importance of family values, which have shaped his approach to both business and personal responsibilities. 

In 2013, he took on a significant role in public service when he was appointed as a delegate to the National People’s Congress (NPC), China’s top legislative body. 

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This position allows him to contribute to the formulation of national policies and engage with critical issues affecting the tech industry and the broader economy. 

His involvement with the NPC underscores his commitment to not only advancing his business interests but also participating in the governance and development of China. 

This dual focus on family and public service highlights Lei Jun’s multifaceted identity as a tech entrepreneur and a responsible citizen, reflecting the integration of personal values with professional pursuits.

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Lei Jun Now

At 54 years old, Lei Jun stands as a prominent figure in the global technology landscape recognized not only as a billionaire entrepreneur but also as a philanthropist. 

He is best known for founding Xiaomi, a company that has reshaped the consumer electronics market with its innovative products and competitive pricing. 

Launched in 2010, Xiaomi quickly gained popularity for its smartphones, which combined high-quality features with affordability, making advanced technology accessible to a broader audience. 

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Under Lei Jun’s leadership, Xiaomi expanded its product range to include smart home devices, wearables, and other electronics, establishing itself as one of the world’s leading technology firms.

Lei Jun’s entrepreneurial journey has been marked by a vision that transcends mere profit-making; he aims to create a brand that resonates with consumers’ needs and lifestyles. 

His focus on customer-centric innovation has propelled Xiaomi to become one of the largest smartphone manufacturers globally, often competing with giants like Apple and Samsung. 

In addition to his business acumen, Lei Jun has demonstrated a commitment to social responsibility through his philanthropic efforts. 

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He has actively supported initiatives in education, health, and technology advancement, reflecting his belief in giving back to the community that contributed to his success.

As a leader in the technology sector, Lei Jun also plays a vital role in shaping industry trends and policies. 

His involvement in various forums and his position as a delegate to the National People’s Congress (NPC) allow him to influence critical discussions around technology and innovation in China. 

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By engaging with policymakers, he advocates for an environment that fosters entrepreneurship and supports the growth of the tech industry. 

Overall, Lei Jun’s journey from a curious child tinkering with electronics to a billionaire entrepreneur and philanthropist exemplifies the transformative power of innovation and the importance of social responsibility in the modern business landscape.

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Lei Jun’s Net Worth

Lei Jun is a Chinese businessman with a net worth of $18.5 billion, a testament to his remarkable success in the technology sector, primarily as the founder and CEO of Xiaomi, which has become a leading player in the global consumer electronics market.

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