⬅ # 64 Vladimir Potanin|# 66 Jack Ma

# 65 He Xiangjian 

$27.4B

Real Time Net Worth
as of 4/23/2024
-$461.6M (-1.69%)

# 65 He Xiangjian 

$27.4B

Real Time Net Worth
as of 4/23/2024
-$461.6M (-1.69%)
OccupationCofounder, Midea
Source of WealthHome Appliances
Age81
ResidenceFoshan, China
Marital StatusMarried
Children3
Age-Adjusted Net Worth$6.61B
He Xiangjian
He Xiangjian
China
Net worth: $27.4B

Self-Made Score 

Wealth History

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Biography

Early Life and Founding

He Xiangjian was born in Foshan, China.
In 1968, at the age of 25, He Xiangjian led a group of 23 residents from Beijiao, Guangdong Province, to establish a lid production workshop, laying the foundation for what would become Midea Group.
The initial budget for his entrepreneurial endeavor was 5000 Yuan, and the venture started with the production of bottle caps and lids.

Business Expansion

Following the success in the Chinese market, He Xiangjian diversified the business from plastic bottle lids to furnished goods and then into electrical appliances.
Midea Appliances, founded in 1968, has grown into a multi-billion dollar company with close to 135,000 employees.
In the 1990s, He Xiangjian expanded Midea's interests internationally, investing in stocks in countries such as India, Egypt, Brazil, Argentina, and Chile, propelling Midea into one of the world's largest appliance companies.

Leadership and Growth

He Xiangjian played a pivotal role in the rapid growth of Midea Group, transforming it into one of the world's largest appliance makers.
As of present, he holds the position of the ninth richest man in China.
He stepped down from Midea Group operations in 2012.

Family Involvement

He Xiangjian's son, He Jianfeng, serves as a director of both Midea Group and Midea Real Estate Holding.

How long would it take you to become as rich as He Xiangjian?

If you started with $10,000 and invested an additional $500 each month at a 43.95% CAGR, it would take you 5 years to reach He Xiangjian's net worth of $27.4B.

Is this realistic? It depends how closely the VIX-TA-Macro Advanced model performs to its history in the future. Since Grizzly Bulls launched on January 1, 2022, it's returned 34.07% compared to 5.08% for the S&P 500 benchmark.

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He Xiangjian is very wealthy, but what's stopping you from reaching that same level of success? As summarized in our five fundamental rules to wealth building, becoming wealthy in a modern capitalist economy is not complicated. There's actually only three variables:

  1. Your starting capital
  2. Your earnings after expenses
  3. The compound annual growth rate (CAGR) of your savings

Most people start with zero or very little, so if you weren't born into wealth, don't fret! The majority of the fortunate folks listed in our Grizzly Bulls’ Billionaires Index came from middle class or lower backgrounds. The most distinguishing characteristic of the group is their ability to consistently earn a high CAGR on their savings.

Every billionaire has a unique strategy to achieve high CAGR. For He Xiangjian, Home Appliances is the primary source. Whether you choose to invest your savings in your own businesses or the businesses of others is not as important. The salient piece of the puzzle is ensuring that your hard-earned savings are generating sufficient CAGR to reach your long term goals.

Most people simply invest their money in index funds and call it a day. There's nothing wrong with this approach, but it guarantees relative mediocrity. To achieve greatness, you need to invest your money to earn higher than average returns. In the long run, better investors will always finish ahead of better earners.

Source: Grizzly Bulls reporting

Methodology: Grizzly Bulls' Billionaires Index is a daily ranking of the world's billionaires and richest people. Grizzly Bulls strives to provide the most accurate net worth calculations available. We pull data from public equity markets, SEC filings, public real estate records, and other reputable sources.

The index is dynamic and updates daily at the close of U.S. stock market trading based on changes in the markets, economy, and updates to Grizzly Bulls' proprietary algorithm of personal wealth calculation. Stakes in public companies are tracked daily based on the relevant closing prices of the underlying securities. Additionally, stakes in private companies, cash, real estate, and other less easily valued assets are updated periodically through careful analysis of insider transactions, comparable public company sales / EBITDA multiples, etc.

Edited by: Lee Bailey