Image: Public domain | via Wikimedia Commons
He Xiangjian, co-founder of Midea Group, transformed a small lid production workshop into one of the world's largest appliance makers. His source of wealth stems from the home appliance industry. He Xiangjian, born in 1942, is 83 years old. His career highlights include leading Midea's growth and expansion. As of December 5, 2025, his net worth is estimated at $33 billion. He is known for his philanthropic efforts and has established the He Art Museum.
He Xiangjian was born in Shunde, Guangdong, China, on October 5, 1942. He grew up in a rural village during a period of economic and political change. He started his career as a farmer before becoming an apprentice in a factory as he did not have the chance to go to school.
He Xiangjian's entrepreneurial journey began in 1968, at the age of 26, when he led a group of 23 residents to establish a lid production workshop in Beijiao, Guangdong province. The initial investment was 5,000 Yuan (approximately $730 USD). The company initially produced bottle lids and car parts. Under his leadership, Midea Group expanded into the manufacturing of home appliances. In 1981, he registered the Midea brand. In 2012, he stepped down from the operations of Midea but remained the company's chairman.
He Xiangjian's success is attributed to his strategic vision and focus on innovation. Midea diversified its business from bottle lids to furnished goods and, ultimately, into electrical appliances. His focus on customer satisfaction, innovation, and global expansion has been key. He also made strategic acquisitions and partnerships, including the acquisition of German robotics firm KUKA.
He Xiangjian is known for his philanthropic activities. In 2017, he donated CNY 6.8 billion (approximately $1.09 billion) to charity. In 2023, he unveiled an eponymous $428 million science fund focused on AI and climate research.
He led a group of 23 residents to establish a lid production workshop in Beijiao, Guangdong, which later became Midea Group.
He registered the Midea brand, marking a significant step in the company's growth.
He stepped down from the operations of Midea but remained the company's chairman.
Donated to charity in 2017
Science fund focused on AI and climate research.
He survived an attempted kidnapping at his villa in Foshan. His son alerted the police, leading to the arrest of five suspects.
