⬅ # 129 Rupert Murdoch|# 131 Renata Kellnerova

# 130 Li Xiting 

$14.9B

Real Time Net Worth
as of 4/20/2024
-$41.3M (-0.28%)

# 130 Li Xiting 

$14.9B

Real Time Net Worth
as of 4/20/2024
-$41.3M (-0.28%)
OccupationCofounder and Chair, Mindray
Source of WealthMedical Devices
Age73
ResidenceShenzhen, China
EducationBS, University of Science and Technology of China
Age-Adjusted Net Worth$6.20B
Li Xiting
Li Xiting
Singapore
Net worth: $14.9B

Self-Made Score 

Wealth History

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Biography

Overview

Li Xiting, born in Dangshan, a rural county near Shanghai, China, came from a poor family.
He excelled in school and pursued a degree in Low-Temperature Technology at the University of Science and Technology of China in Hefei.
After graduation, Li worked in the medical equipment field, gaining knowledge in bio-medical electronics.
In 1991, Li Xiting co-founded Mindray Bio-Medical Electronics, a medical device company headquartered in Shenzhen.
Li focused on making Mindray competitive with industry giants like Abbot Bio-Medical Electronics, GE Health Care, and Danaher.
Under his leadership, Mindray expanded its product line, including manufacturing ventilators during the pandemic.
Li emphasizes teamwork and determination as key factors in his success.
He is known for his philanthropy, generously donating to higher educational institutions in China and Singapore.
Li Xiting, at the age of 72, is regarded as the Pride of Singapore.

Early Life and Education

Li Xiting was born in Dangshan, near Shanghai, China, and grew up in a financially disadvantaged family.
He excelled academically and pursued a degree in Low-Temperature Technology at the University of Science and Technology of China in Hefei.

Career and Entrepreneurship

After graduation, Li worked in the medical equipment field, gaining expertise in bio-medical electronics.
In 1991, Li co-founded Mindray Bio-Medical Electronics, headquartered in Shenzhen.
Mindray focused on manufacturing equipment for clinical diagnosis and later expanded to produce portable intensive care equipment and ventilators.
Under Li's leadership, Mindray became a global player with manufacturing units in China and offices worldwide, including the USA.

Financial Success and Philanthropy

Li attributes his success to teamwork and unwavering determination.
He is known for significant philanthropic contributions, particularly to higher educational institutions in China and Singapore.

Recognition and Personal Philosophy

Li Xiting, a self-made billionaire, is characterized as a dreamer who embraces failure on the path to success.
At 72 years old, he is considered the Pride of Singapore.

How long would it take you to become as rich as Li Xiting?

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 Li Xiting's net worth of $14.9B.

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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Li Xiting 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 Li Xiting, Medical Devices 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