⬅ # 214 Anthony Pratt|# 216 Goh Cheng Liang

# 215 Xu Hang 

$10.3B

Real Time Net Worth
as of 4/12/2024
-$38.6M (-0.38%)

# 215 Xu Hang 

$10.3B

Real Time Net Worth
as of 4/12/2024
-$38.6M (-0.38%)
OccupationCofounder and Co-CEO, Mindray
Source of WealthMedical Devices
Age61
ResidenceShenzhen, China
EducationEMBA, Ceibs; Bachelor of Engineering, Tsinghua University; MS in Engineering, Tsinghua University
Age-Adjusted Net Worth$9.61B
Xu Hang
Xu Hang
Hong Kong
Net worth: $10.3B

Self-Made Score 

Wealth History

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Biography

Overview

Xu Hang, born in 1967, is a Chinese billionaire business magnate and the co-founder and co-CEO of Mindray Medical International.
He holds a BA degree from Tsinghua University and pursued his MA in biomedical engineering at the Department of Electrical Engineering of Tsinghua.
Xu gained recognition for inventing China's first domestic color B-ultrasound machine, earning him the National Progress Award.
In 1991, he co-founded Mindray with Li Xiting and Cheng Minghe, growing it into the nation's largest high-tech medical equipment manufacturer.
In 2001, Xu established Pengrui Investment Group Co., Ltd, focusing on high-tech environmental protection, real estate, and ecotourism projects.

Mindray Medical International

Mindray Medical International, based in Shenzhen, Guangdong, is a Chinese multinational medical instrumentation manufacturer.
Founded in 1991 by Xu Hang, Li Xiting, and Cheng Minghe, Mindray designs and produces medical equipment and accessories for both human and veterinary use.
The company operates in three key business lines: Patient Monitoring & Life Support, In-Vitro Diagnostic Products, and Medical Imaging Systems.
Mindray was listed on the NYSE in September 2006, delisted in March 2016, and re-listed in the Shenzhen Stock Exchange in October 2018.
In 2019, Mindray faced hiring controversy but later reinstated job offers citing 'corporate social responsibility.'
Mindray collaborated with Korle Bu Teaching Hospital in January 2019 to enhance diagnostic patient care in Ghana.

How long would it take you to become as rich as Xu Hang?

If you started with $10,000 and invested an additional $500 each month at a 44.18% CAGR, it would take you 5 years to reach Xu Hang's net worth of $10.3B.

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 36.27% compared to 8.51% for the S&P 500 benchmark.

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Xu Hang 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 Xu Hang, 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