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Billionaire Profile
Fang Hongbo
Global Rank
#2233

Image: Public domain | via Wikimedia Commons

Fang Hongbo

CEO, Midea Group
CN
Real-Time Net Worth
$1.7B
As of December 2025
Age
58
Source
Home appliances
Industry
manufacturing
Citizenship
CN

Biography

Fang Hongbo, the Chairman and CEO of Midea Group, is a prominent figure in the global home appliance industry. Born in 1967, he has played a pivotal role in transforming Midea from a local manufacturer into a world leader. His career at Midea began in 1992, and he steadily rose through the ranks, holding key positions such as General Manager of the Air Conditioning Business Department and President of Midea Refrigeration Electric Appliances Group. In 2013, he succeeded the company's founder, He Xiangjian, as Chairman and President of Midea Group. His leadership has been marked by a focus on innovation, operational excellence, and strategic global expansion. Under his guidance, Midea has expanded its presence to over 200 countries and regions, solidifying its position as a Fortune 500 company and the world's largest producer of major appliances. Fang Hongbo's source of wealth is primarily derived from the home appliance industry, with a net worth estimated at $1.7 billion.

Wealth Over Time

In-Depth Profile

Early Life

Fang Hongbo was born in 1967 in China. Information about his early life and childhood is not publicly available. He holds a Bachelor's Degree in History from East China Normal University and an EMBA from the National University of Singapore. This educational background has significantly contributed to his leadership skills.

Rise to Success

Fang Hongbo's career began in 1992 when he joined Midea Group in the Marketing Department. He quickly advanced through the company, holding positions such as General Manager of the Air Conditioning Business Department and President of Midea Refrigeration Electric Appliances Group. In 2013, he was appointed Chairman and President of GD Midea Holding Co., Ltd. In the same year, he succeeded Midea's founder, He Xiangjian, as Chairman and President of Midea Group Co., Ltd. (000333.SZ), marking a pivotal moment in his career.

Key Business Strategies

Under Fang Hongbo's leadership, Midea Group has focused on several key strategies:

  • Global Expansion: Expanding Midea's global reach, establishing a strong presence in international markets and exporting products to over 200 countries and regions worldwide.
  • Innovation: Spearheading Midea's commitment to innovation, driving the development of cutting-edge technologies and products.
  • Diversification: Putting more emphasis on emerging sectors, such as robots, electric systems, new energies, and advanced energy storage, to build a second curve to drive growth.
  • B2B Expansion: Focusing on business-to-business operations.

Philanthropy

In 2021, Fang Hongbo donated 90 million RMB to East China Normal University.

Career Milestones

1992

Joined Midea Group

Began his career in the Marketing Department.

Promoted

General Manager

General Manager of Midea's Air Conditioning Business Department.

Leadership Roles

President

Held the position of President of Midea Refrigeration Electric Appliances Group.

2013

Chairman and President

Appointed as Chairman and President of GD Midea Holding Co., Ltd.

2013

Chairman and President of Midea Group

Succeeded Midea's founder, He Xiangjian, as Chairman and President of Midea Group Co., Ltd.

Philanthropy & Social Impact

Education

Donation to East China Normal University

$12.8M

Donated 90 million RMB to East China Normal University.