Lei Jun reaches the top of China's wealthiest people ranking thanks to Xiaomi's rise

The Chinese business scene is undergoing significant changes. According to analysts at Yijian Finance, the wealthiest person in China is now Lei Jun, with a total net worth estimated at nearly 440 billion yuan. As a result, Xiaomi Group’s founder has surpassed Zhong Shanshan (Nongfu Spring) and Zhang Yiming (ByteDance), who previously held the top positions on the list of the wealthiest individuals.

Xiaomi Sets New Market Cap Record

February 26th became a landmark date for Xiaomi Group. The company’s shares rose by 5.8%, reaching a new all-time high of HKD 56.8. At this valuation, the total market capitalization of the tech giant exceeded HKD 1.4 trillion, setting another record. This surge in value demonstrates growing investment interest in Xiaomi from both institutional investors and retail traders.

Rapid Rise from 2022 Low

Xiaomi Group’s stock reaching these heights is especially impressive given its history. From a low of HKD 8.31 in October 2022, the shares have increased by over 570%. Such a significant recovery indicates that investors are revaluing the company’s prospects and its position in the fast-growing smart device segment. The price movement reflects renewed market confidence in Xiaomi’s development strategy.

Shift in Leadership Among Chinese Billionaires

Lei Jun’s rise to the top of China’s wealthiest list marks a shift in the country’s market dynamics. Previously, the top positions were held by leaders from other sectors—Zhong Shanshan from consumer goods (Nongfu Spring) and Zhang Yiming from internet technology (ByteDance). Lei Jun’s success highlights the increasing importance of hardware and smart device ecosystems in China’s economy, as well as Xiaomi’s ability to adapt to changing global market demands.