Entrepreneurs
He Xiangjian Net Worth
He Xiangjian built massive wealth in China, manufacturing home appliances to make him one of the richest men in the world.
What is He Xiangjian’s net worth?
Net Worth: | $27 Billion |
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Age: | 82 |
Born: | October 5, 1942 |
Gender: | Male |
Height: | 1.64 m (5 ft 5 in) |
Country of Origin: | China |
Source of Wealth: | Entrepreneur |
Last Updated: | Oct 7, 2024 |
Introduction
He Xiangjian’s wealth was built on the back of his entrepreneurial skills, resulting in the Midea Group becoming the largest appliance manufacturer in China.
Xiangjian is one of China’s richest men and thirty-five of his employees have a net worth of more than a billion dollars.
The Chinese government believes that the company’s wealth is due to corrupt deals. His net worth is now open to debate as the Chinese government has started multiple corruption cases against him.
He Xiangjian’s net worth is estimated to be $27 Billion.
Quick Facts
- The Midea Group is one of the world’s largest appliance makers and was co-founded by He Xiangjian and a mysterious group of investors.
- Most of his wealth is from his 30% stake in the Midea Group.
- 20 out of every 100 air conditioners in the world are manufactured by Midea.
- He Xiangjian enjoys sports and plays volleyball and tennis as hobbies.
- Comedian Sam Richardson starred as the ‘Chief Idea Officer’ in Midea’s U.S Brand launch campaign.
Early Life
He Xiangjian was born October 5, 1942, in Shunde, China.
There is not much known about He Xiangjian’s childhood as he has not revealed much about his family.
What we do know, is that his hunger for business started at a young age. While he was young, he started producing bottle lids and caps on a very low budget.
To increase the mystery factor, it is said that He Xiangjian never attended high school.
He Xiangjian grew up in poverty and it is said that his family did not even have enough money to buy bread. With this in mind, He Xiangjian feeds over two hundred thousand people free of charge every day.
Career
Once he saved 5,000 Yuan, Xiangjian created his first proper business in the same way that Changpeng Zhao started a business to help his family. He Xiangjian went from producing bottle caps to help feed his family, to producing furnished goods and then electrical appliances.
He started building the company at the age of twenty-six with the help of villagers in the city of Beijiao.
Unfortunately, the business was started at the time of communism’s rise in China. This was a problem for the company’s growth, as the communist government at the time did not want to promote private companies.
He’s company could not progress much for the next thirty-two years. But, after China’s move to a capitalistic economic structure, the company could finally progress and grow.
Midea Group became one of the biggest appliance makers in the whole of China. With this success, he decided to venture internationally
In the 1990s, the Midea Group was turned into one of the biggest appliance businesses worldwide.
The Midea Group had become a billion-dollar company by 1992 and according to figures reported in 2012, there are about thirty-five employees within the company who have a net worth of over a billion dollars.
Trading of its shares was suspended a few years ago due to a “critical matter” at the Midea Group. The government announced that the reason was because of a problem occurring during the merger of an unlisted company with Shenzhen-listed, GD Midea.
Because of government interference, the company began to struggle. Sales dropped dramatically and He stepped down as head of the company in 2012, even though the company needed active leadership.
After He Xiangjian’s retirement, his son took over as the managing director of the Midea Group.
He Xiangjian’s Career Earnings
Here is an estimated overview of He Xiangjian’s annual income:
- 2017 – $1.2 billion
- 2018 – $1.5 billion
- 2019 – $1.6 billion
- 2020 – $1.8 billion
- 2021 – $1.9 billion
- 2022 – $2 billion
He Xiangjian’s Net Worth Annually
Unsurprisingly, He Xiangjian increased his personal wealth as his company grew. Despite the setbacks and obstacles the Chinese government put in his way, his business is still thriving.
Here’s a breakdown of He Xiangjian’s annual net worth:
- 2017 – $20 billion
- 2018 – $22 billion
- 2019 – $24 billion
- 2020 – $26 billion
- 2021 – $28 billion
- 2022 – $30 billion
Unless something untoward happens to He Xiangjian, his enormous wealth will continue to grow as the demand for consumer goods worldwide is enormous. China can supply these consumables cheaper than anywhere else, so his company enjoys a massive competitive advantage.
Personal Life
Not much is known about He Xaingjian’s personal life. What we do know, is that he is married and has three children. His son, He Jianfeng, is currently the managing director of the Midea Group and Midea Group Real Estate Holding.
He currently resides in Foshan, which is the same town in which he was born. He lives in Junlan International Golf Life Village, which was developed by the Midea Real Estate Group.
He Xiangjian is a recognized art collector and is the founder of the He Art Museum. It is a non-profit museum that is privately funded and was designed by Tadao Ando.
In 2020, it was reported that there was an attempted kidnapping of He Xiangjian. It was said that the kidnappers broke into his villa but his son, He Jianfeng, escaped the villa and swam across a river to alert the police. Five suspects were arrested after the police rescued He Xiangjian.
Awards & Achievements
Here are some of the more memorable moments from He Xiangjian’s career:
- He has been ranked as the 36th richest person in the world by Forbes.
- He has been named Charity King of China since 2013.
- The Midea Group has more than 200 subsidiaries, including a robotics firm, Kuka, located in Germany.
- In 2018, He Xiangjian was awarded Reform Pioneer medals along with Jack Ma, founder of Alibaba, and Liu Chuanzhi, the founder of Lenovo.
How Does He Xiangjian Spend His Money?
He Xiangjian is known to be the most charitable self-made billionaire in the whole of China. The only video available of He Xiangjian is of him on a stage announcing that he would be donating $875 million to charity.
With his early life experience of not being able to afford food, He Xiangjian feeds over two hundred thousand people daily, absolutely free of charge.
It is unlikely that he drives any of the most expensive cars in the world, but we’re sure that his garage is stocked with the best wheels that China has to offer.
Summary
He Xiangjian is one of the most famous entrepreneurs in the world. At the Midea Historical Museum, you can see how the company started from a small plant and grew into a world-class, leading brand in the household appliance industry.
There are currently multiple corruption cases against He Xiangjian started by the Chinese government. The reason behind his not being caught out for anything is that it is difficult to trace his current assets.
He Xiangjian’s net worth is estimated to be $27 Billion.
What do you think about He Xiangjian’s net worth? Leave a comment below.
Entrepreneurs
Carlos Ghosn Net Worth
What is Carlos Ghosn’s net worth?
Net Worth: | $120 Million |
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Age: | 70 |
Born: | March 9, 1954 |
Gender: | Male |
Height: | 1.70 m (5 ft 7 in) |
Country of Origin: | Brazil |
Source of Wealth: | Entrepreneur |
Last Updated: | Oct 7, 2024 |
Introduction
Carlos Ghosn is a Brazilian-born French businessman with an estimated net worth of $120 Million.
Ghosn is best known for being the CEO of Michelin North America, Renault, AvtoVAZ, Nissan, and Mitsubishi Motors.
Early Life
Carlos Ghosn was born on the 9th of March, 1954, in Porto Velho, Brazil.
He did his secondary studies in Beirut, Lebanon, at Collège Notre-Dame de Jamhour.
Ghosn graduated from École Polytechnique in engineering in 1978 and his postgraduate studies from the École des Mines de Paris.
Career
After graduating from the École des Mines de Paris in 1978, Carlos Ghosn worked for Michelin for 18 years. At first, he trained and worked at several plants throughout France and Germany before becoming a manager in Le Puy-en-Velay, France.
In 1984, Ghosn became the head of research and development and, a year later, was named the COO of the company’s operations in South America.
Ghosen moved to Rio de Janeiro, where the business had become unprofitable due to the hyperinflation in Brazil. Tasked with turning things around, Ghosen rose to the challenge with success and was named the president and COO of Michelin North America in 1989.
Rising Through The Ranks
In 1990, Carlos Ghosn became the CEO of Michelin North America and oversaw the company’s restructuring after purchasing Uniroyal Goodrich Tyre Company.
Six years later, Ghosn was elected Vice President of research, purchasing, development, and manufacturing at Renault, a French auto manufacturer. Under his guidance, Renault became exceptionally profitable, which led to Renault and Nissan forming the Renault-Nissan Alliance in 1999.
While maintaining his previous roles, Ghosn became Nissan’s COO and was named its president in 2000 and CEO in 2001.
Ghosn was able to turn Nissan’s sinking profits around with his “Nissan Revival Plan,” which reduced the company’s debt by 50% by 2002. To do this, he cut 14% of jobs, shut down five Japanese plants, and auctioned off assets, including the company’s aerospace division.
In 2005, he became Renault’s president and chief executive, making him the first person to run two Fortune 500 companies simultaneously.
While not as wealthy as the richest people in America, Ghosn’s business strategies for success were undeniable, even if some people disagreed with his methods.
Ghosn’s Recent Business Deals
Carlos Ghosn became the chairman of GM in 2005, following a merger between the company and Renault and Nissan. Ford offered to allow Ghosn to lead the company the following year, but he refused, stating he’d have to be made both CEO and chairman.
In 2007, Ghosn pushed Renault-Nissan into the electric car market, which helped make it the world leader in electric vehicles by 2017.
Soon after, he was named the deputy chairman of the Russian auto manufacturer AvtoVAZ and, in 2013, became the company’s chairman.
After a long tenure, Ghosn stepped down as CEO of Nissan in 2017 while remaining chairman and was succeeded by Saikawa Hiroto.
However, the year before, Ghosn had become chairman of Mitsubishi Motors following Nissan’s acquisition of a 34% stake in the company.
At Mitsubishi, Ghosn’s goal was to rehab the automaker, though he was removed from his post in 2018 after his arrest over false accounting allegations. After that, Ghosn’s affairs began to fall apart, and by the end of 2019, he was still imprisoned.
In late 2019, he was able to post bail and quickly left Japan for Lebanon, where he continues his legal battles today.
Carlos Ghosn Net Worth
In 2024, Carlos Ghosn’s net worth is estimated to be $120 Million.
Highlights
Here are some of the best highlights of Carlos Ghosn’s career:
- Ghosn is the chairman/CEO of Renault, AvtoVAZ, Nissan, and Mitsubishi Motors
- He was ranked as one of the 50 most famous men in global business and politics (2003)
Summary
Carlos Ghosn is a French-Lebanese-Brazilian businessman known as the “Le cost killer” and “Mr. Fix It”.
Thanks to his turnaround success at Nissan, Carlos gained celebrity status in the business world and was ranked as one of the 50 most famous men in global business and politics in 2003.
What do you think about Carlos Ghosn’s net worth? Leave a comment below.
Entrepreneurs
Rich Barton Net Worth
What is Rich Barton’s net worth?
Net Worth: | $2.1 Billion |
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Age: | 57 |
Born: | June 2, 1967 |
Gender: | Male |
Height: | Unknown |
Country of Origin: | United States of America |
Source of Wealth: | Entrepreneur |
Last Updated: | Oct 7, 2024 |
Introduction
Rich Barton is an American entrepreneur and CEO of Zillow Group with an estimated net worth of $2.1 Billion.
Barton has founded multiple companies, including online travel company Zillow, job search engine Glassdoor, and photography site Trover.
Barton was a venture partner at Benchmark and is on the board of directors for Netflix, Avvo, Nextdoor, and Artsy.
Early Life
Richard Barton was born on the 2nd of June, 1967, and raised in New Canaan, Connecticut.
Barton is the son of a teacher and mechanical engineer.
Barton graduated from Standford University in 1989. He then started working for Alliance Consulting Group and Microsoft in 1991. His forefathers, John Barton and his son Horace, were inducted into the 1999 South Dakota Tennis Hall of Fame.
Career
After graduating from Stanford University with an engineering degree, Rich Barton started working for the Alliance Consulting Group in 1989.
In 1991, he left and began working for Microsoft as a project manager for the operating system MS-DOS 5.0. While working for Microsoft, Barton founded the travel site Expedia in 1994 as the company was planning to build a travel guide on CD-ROM. However, Barton pitched the idea of an online service to Bill Gates, who permitted him to pursue the project.
In 1996, Expedia made its debut on the internet, and Rich was the CEO of the site’s IPO until 2003, when it was purchased for $3.6 billion.
Making Billions
After selling Expedia’s IP, Rich Barton took a year-long break from business to relax in Italy and enjoy his success. However, he didn’t rest for too long and made a comeback in 2004 to begin setting his next business plan in motion.
Now in Seattle, Barton began working on the site Zillow, which he believed could transform the real estate industry.
In December 2004, Zillow was incorporated in Washington and officially launched in February 2006.
The site included a home valuation tool, sales history, and value appreciation information upon launch. The site crashed on the morning of its launch because the servers weren’t strong enough to handle the immense traffic.
By 2008, Zillow had grown exponentially and, in 2010, had become incredibly profitable for the first time since its launch.
In 2012, Barton purchased Rentjuice and Hotpads, followed by Street Easy in 2013 and Trulia in 2015.
All of this helped make Rich Barton one of the richest people in America, and his net worth continues to increase.
Maintaining Zillow
Although Rich Barton stepped down as CEO in 2010, he returned in 2019, replacing Spencer Rascoff. A year prior, the site began buying and selling through the new Zillow Offers, which partnered with local real estate agents. Upon returning to the CEO position, Barton began expanding Zillow Offers into new markets across the United States.
However, when the pandemic struck in 2020, Zillow saw its stock hit a four-year low, forcing them to cut expenses to stay profitable.
By July 2020, Zillow became one of the first companies to permanently allow employees to work from home. This allowed them to hire an additional 1,500 employees with the plan to expand their workforce by 40% by the end of 2021.
Unfortunately, things didn’t pan out, and Barton announced in November 2021 that Zillow was shutting down its home-buying business and laying off 25% of employees.
That said, this didn’t stop the Zillow Group from acquiring other businesses throughout the 2020s to expand their reach. These companies include ShowingTime, Follow Up Boss, and VRX Media, all of which have benefited Zillow. At the same time, Forbes named Barton a billionaire in 2020 after his earnings from Zillow continued to grow.
Now one of the richest people in the world, Rich Barton has undoubtedly lived up to his first name, earning billions through his business.
Rich Barton Net Worth
In 2024, Rich Barton’s net worth is estimated to be $2.1 Billion.
How Does Rich Barton Spend His Money?
Rich Barton spends his money on real estate.
Rich Barton’s Home and Other Spendings
Barton owns a home in Seattle, Wahington. Barton Has A $700 million stake in Zillow and plans to turn it into a home-flipping machine.
Highlights
Here are some of the best highlights of Rich Barton’s career:
- Chief executive officer of Zillow Group
- One of the top 10 innovators under 35 by MIT Technology Review (2003)
- Presidential Ambassadors for Continental Entrepreneurship (2012)
Summary
Rich Barton is an American entrepreneur and businessman best known for being the Zillow Group CEO.
He is also the founder of Expedia and Glassdoor. Barton was born in Connecticut and graduated from Standford University. He has also founded the online travel photography-sharing site Trover.
He was a venture partner at Benchmark and served on the boards of directors for Netflix and Artsy. In 2012, he was named one of Barack Obama‘s Presidential Ambassadors for Continental Entrepreneurship.
What do you think about Rich Barton’s net worth? Leave a comment below.
Entrepreneurs
Russell Simmons Net Worth
What is Russell Simmons’ net worth?
Net Worth: | $340 Million |
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Age: | 67 |
Born: | October 4, 1957 |
Gender: | Male |
Height: | 1.76 m (5 ft 9 in) |
Country of Origin: | United States of America |
Source of Wealth: | Entrepreneur |
Last Updated: | Oct 7, 2024 |
Russell Simmons is an American record producer and entrepreneur with an estimated net worth of $340 Million.
Simmons is the co-founder of the record label Def Jam and has been among the top 25 most influential people in the industry over the past 25 years, playing a pivotal role in bringing hip-hop music to the forefront.
Early Life
Russell Simmons was born in Queens, New York, on October 4, 1957.
He is the son of Daniel Simmons Sr. and Evelyn Simmons. His father was a public school administrator, and his mother worked as a park administrator. Simmons attended the City College of New York for some time, after which he dropped out and went on to promote local musicians.
Career
During college, Simmons met industry mentor Robert Ford Jr., and a few years later, he co-founded Def Jam Recordings with Rick Rubin. In 1985, he co-produced and appeared alongside Daryl McDaniels in the film “Krush Groove” and launched the Def Comedy Jam television program.
From Rap To Riches
The Def Comedy Jam program featured notable figures such as Dave Chappelle, Chris Rock, and Martin Lawrence, who were prominent comedians then. At the same time, Russell’s services to the music industry and hip-hop culture were honored at the 2004 VH1 Hip Hop Honors. A few years later, he produced hit films “The Nutty Professor” featuring Eddie Murphy and “How to Be a Player.”
In 2003, Russell established RushCard, a prepaid debit card provider, and launched Phat Fashions LLC, featuring Phat Farm and Baby Phat labels. The apparel line has a traditional appearance and feel thanks to the influence of designers like Ralph Lauren and Tommy Hilfiger. Not long after establishing the business, he sold Phat Farm and Baby Phat to Kellwood Company in 2004 for $140 million.
That same year, he formed the Russell Simmons Music Group as a joint venture with Universal Music’s Island Def Jam Music Group.
Simmons’ Vegan Advocacy
Additionally, he co-founded the Rush Philanthropic Arts Foundation and received an Honorary Doctorate Degree in Humane Letters from Claremont Lincoln University in 2014. He also coordinated the anti-Rockefeller Drug Law demonstrations promoting more equitable drug laws and was designated as the UN Slavery Memorial’s Goodwill Ambassador.
Russell is a huge PETA supporter and won the PETA Humanitarian Award in 2001 and the Person of the Year Award. The group PETA (People for the Ethical Treatment of Animals) fights against animal abuse in entertainment and industry, advances vegetarianism, and defends animal rights. Many celebrities, such as Pamela Anderson, Ellen DeGeneres, and Woody Harrelson, are just a few of the figures supporting PETA.
His involvement with the NGO has influenced him to live a healthier lifestyle. He has become vegan himself and promotes the routine.
Signing Lil Skies And Jack Harlow
Simmons, a vegan since 1999, supports the David Lynch Foundation, which encourages activism, mindfulness, and vegetarianism; he also practices Jivamukti Yoga and Transcendental Meditation. He supports the Somaly Mam Foundation, which combats human trafficking and sexual slavery and endorses the second Muslim Jewish Conference promoting interfaith dialogue and cooperation.
In 2012, Simmons’ book “Super Rich: A Guide to Having It All” took home the NAACP Image Award for Outstanding Literary Work – Non-Fiction.
To top it all off, Richtopia listed him as one of the 200 most influential social entrepreneurs and philanthropists worldwide in 2017.
Russell released the “Masterminds of Hip Hop” NFT collection alongside Snoop Dogg and Ice-T and became a senior advisor for the vegan brand Everything Legendary.
Recently, Russell has been more involved in Def Jam Records, signing up-and-coming artists such as Lil Skies, Jack Harlow, and Dreezy.
Estimated Net Worth
Highlights
Here are some of the best highlights of Russell Simmons’ career:
- Co-founded Def Jam (1983)
- Krush Groove (Movie, 1985)
- Launched Clothing Line (1992)
- Sold Phat Farm (2004)
Summary
Russell Simmons was one of the first producers in the industry to co-found one of the most significant record labels ‘Def Jam’. Simmons has collaborated with some of the best artists, such as Jay Z and LL Cool J.
What do you think about Russell Simmons’ net worth? Leave a comment below.
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