Lin Bin was an early student since he was a child, and has a keen interest in computers and programming. After graduating from university, he worked as an average programmer from Microsoft to senior executives at Microsoft and then to Google China’s global technical director. He sold all of Microsoft’s and Google’s stocks until 2010. Co-founded Xiaomi with Lei Jun.
On June 23, Xiaomi held a global press conference in Hong Kong. Lei Jun, carrying six senior executives Lin Bin, Hong Feng, Li Wanqiang, Wang Chuan, Liu De, and Zhou Youzi attended the press conference and announced that it would formally launch the Hong Kong stock on June 25. Recruitment, and will be listed on the main board of the Hong Kong Stock Exchange on July 9.
Xiaomi’s listing in Hong Kong can be said to have landmark significance. After the super unicorn was successfully listed, the valuation of Xiaomi’s 100 billion US dollars means that in addition to creating Lei Jun as the new richest man in China, it will also create wealth. A group of billionaires. This time, six executives attended the press conference together with Lei Jun. Xiaomi’s core executive team also attracted a lot of attention. Their worth has risen accordingly. According to the information disclosed in the prospectus, The executive team worth hundreds of billions.
Six executives worth more than 100 billion
Xiaomi was established in 2010. Founded by founder Lei Jun, co-founder Lin Bin, Zhou Guangping, Liu De, Li Wanqiang, Huang Jiangji, and Hong Feng seven people. For 8 years, Xiaomi is still a young company, but The executive team has undergone many iterations and power adjustments.
Currently Xiaomi's start-up team Zhou Guangping and Huang Jiangji have already left Xiaomi. The other four co-founders are still the core executives and attended the previous press conference. In addition, Wang Chuan, who is responsible for Xiaomi's TV business, has received funding from CFO Zhou.
Xiaomi’s prospectus disclosed 7 directors, including Lei Jun, and a total of 13 senior management teams. From the position of the board of directors, the share held by the company and the division of power in the group, Xiaomi executive director, president and general manager of Xiaomi Mobile Lin Bin It is well-deserved chief of the executive team other than Lei Jun. Senior vice president and brand strategy officer Li Wanqiang can be ranked second. Lin Bin and Li Wanqiang can be called Lei Jun's left arm and right arm.
According to the disclosure of the prospectus, some senior executives held shares, Lin Bin holds 13.3286% shares, ranking first in the Leijun Outlets, which means that if the market is given a lower valuation of 70 billion US dollars, Lin Bin’s shareholding is worth at least US$9.3 billion. If it successfully achieves a valuation of US$100 billion, Lin Bin’s worth will exceed 88 billion yuan. Li Wanqiang holds 3.2375% of the stock, and the stock market value is at least 2.266 billion U.S. dollars, plus Li Wanqiang himself Investment in culture, film and television, etc., worth over 15 billion yuan.
Among other senior executives, the co-founder and senior vice president (mainly responsible for Internet services) Hong Feng holds 3.2207% of the shares, with a valuation of over US$2 billion. Co-founder, Senior Vice President (mainly responsible for the ecological chain) Liu Dejian The stock is 1.5494%, with a valuation of at least US$1.085 billion. Senior vice president (mainly responsible for TV) Wang Chuan holds 1.1494% shares, and valuation is at least US$780 million. Although Zhou held the weekly CFO shareholding situation in this offer. It was not disclosed in the manual, but according to sources inside Xiaomi, the millet's senior management team will be worth more than 1 billion yuan. This means that the value of the Xiaomi senior management team Liu Jingang has already passed 100 billion yuan.
Decryption technology upstart wealth creation path
From the personal resume of the Xiaomi Senior Management Group's 'Six Diamonds', it can be said that what emerges is a learning tyrant+ technology house to a billionaire, a most admirable way to create wealth, its development path, and its own personal style. Are extremely similar.
Take Lin Bin, who is the oldest and worth the most, as an example.
Lin Bin was an early student since he was a child, and has a keen interest in computers and programming. After graduating from university, he worked as an average programmer from Microsoft to senior executives at Microsoft and then to Google China’s global technical director. He sold all of Microsoft’s and Google’s stocks until 2010. Co-founded Xiaomi with Lei Jun. Xiaomi was previously responsible for Xiaomi's sales system. After Lei Jun made an internal adjustment to Xiaomi’s authority in November 2017, Lei Jun decentralized the handset business to Lin Bin. Lin Bin also served as the general manager of Xiaomi Mobile.
For now Xiaomi, the mobile phone business is still the most important source of income. According to the prospectus, Xiaomi’s revenue comes from four business segments, namely, smart phones, IoT and consumer products, Internet services and others. In 2017, the revenue from the smart phone industry was 80.564 billion yuan, accounting for 70.3% of the total revenue. Faced with the decline in sales of Xiaomi’s mobile phones, Lin Bin, the head of Xiaomi’s mobile phone business, was undoubtedly under greater pressure.
A millet technologist told a 21st Century Business Herald reporter that the executives of technology companies are different from financial companies, real estate companies and some tall corporate executives. 'Everybody is a technical geek in one's bones. On the one hand, it is approachable and grounded, even if it is Rumored worthy billionaires, like mechanical keyboards, also have a second element. On the other hand, they are under enormous work pressure. Many executives often go to sleep and do not even have enough food to eat. We often discuss that one day Even if I have a billion-dollar net worthless, there is no time and no place to spend the money.
A senior executive of the Silicon Valley technology background told reporters of the 21st Century Business Herald that all walks of life need technical talents, and the value of Chinese technical talents is getting higher and higher, especially in large Internet companies and technology companies. A large number of billionaires. There may be some imbalances. As a bank, its salary is indeed not competitive. In recent years, everyone likes to dig abroad. The foreign talent market and salary system are much more cost-effective than domestic ones.
'But there is a problem in the middle that needs to be considered. In fact, for the top technical talents, the position of corporate executives is no different for our group of people with annual salary of several million and annual salary of tens of millions. Especially for technology. For those who are born, when the salary reaches a million, they can already achieve financial freedom. These people basically do not like luxury, few people are keen to buy brand-name bags, drive luxury cars, millions and tens of millions of The real life of this part of the people does not have much impact. When we realize financial freedom, what are our future pursuits? I think it is to create more value and make more contributions to society. This is also a company can The key to retaining talent for a long time. ' He further pointed out.