⬅ # 530 Annette Lerner|# 532 Maria Fernanda Amorim

# 531 Lin Bin 

$5.83B

Real Time Net Worth
as of 4/20/2024
-$184.3M (-3.16%)

# 531 Lin Bin 

$5.83B

Real Time Net Worth
as of 4/20/2024
-$184.3M (-3.16%)
OccupationCofounder and Vice Chair, Xiaomi
Source of WealthSmartphones
Age56
ResidenceBeijing, China
Marital StatusMarried
EducationMaster, Drexel University; BS, Sun Yat-sen University
Age-Adjusted Net Worth$7.64B
Lin Bin
Lin Bin
United States
Net worth: $5.83B

Self-Made Score 

Wealth History

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Biography

Overview

Lin Bin, born in 1968, is a Chinese billionaire entrepreneur and the co-founder of Xiaomi.
He graduated from Sun Yat-sen University with a bachelor's degree in radio electronics and later obtained a master of science in computer science from Drexel University.
Lin began his career at Microsoft, working on Internet Explorer, before transitioning to Google, where he served as Vice President of Google China’s Engineering Research Institute.
In 2010, Lin co-founded Xiaomi along with Lei Jun and five others, initially serving as the company's president.
He oversaw various aspects of Xiaomi's operations, including recruiting, legal, finance, strategic partnerships, and overseas expansion.
Lin Bin assumed the role of vice chairman of Xiaomi in 2019.

Education

Bachelor's Degree: Radio Electronics from Sun Yat-sen University

Master's Degree: Computer Science from Drexel University

Career

Started at Microsoft and worked on Internet Explorer.
Served as Vice President of Google China’s Engineering Research Institute.
Co-founded Xiaomi in 2010 and served as its president.
Transitioned to the role of vice chairman of Xiaomi in 2019.

Personal Life

Family: His daughters attended Tufts University in the United States.

Involvement With Tufts: Member of the board of advisors at Tufts' school of engineering.

Xiaomi Overview

Founded: Xiaomi was founded in 2010 in Beijing by Lei Jun along with six associates.

Product Range: Xiaomi designs and manufactures consumer electronics and related software, home appliances, automobiles, and household hardware.

Smartphone Market Share: As of 2023, Xiaomi is the third-largest seller of smartphones worldwide, with a market share of about 12%.

Business Strategy: Xiaomi keeps its prices close to manufacturing costs and utilizes flash sales and inventory optimization to maintain low inventory levels.

Global Reach: Xiaomi has expanded its operations internationally, including markets like India, Europe, and Russia.

How long would it take you to become as rich as Lin Bin?

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 Lin Bin's net worth of $5.83B.

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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Lin Bin 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 Lin Bin, Smartphones 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