Sunday, 4 December 2022

He Xiangjian, Co-founder, Midea Group

China

Champion's Profile

Net worth: $17.7 billion He Xiang Jian is one of the richest Chinese and the Co-founder of Midea Group, one of China's largest appliance makers. He initially led a group of 23 local residents of the small town in Guangdong Province to form a lid production workshop that became Midea. With an initial amount of only $780, its humble begining, the company has grown into a Billion Dollars Company, following the success of plastic bottle lid business. Then, he moved into furnished goods and then into electrical appliances. The Midea Group has acquired 80% stake in home appliances arm of Toshiba in a cash deal valued at $500 million. The group also increased its stake to 95% in Kuka, a robot firm based in Germany in a deal valued at $4 billion. He has also donated his fortune for several causes ranging from disaster relief to community development and education.

UNDP SDG

Entrepreneurship

Description and impact

donation of 300 to 500m RMB on Shunde Foundation. The project is to help young entrepreneurs to starup companies and support innovation