Early Life and Education
Lei Jun was born on December 16, 1969, in Xiantao, Hubei, China. His parents were teachers, and he developed an early interest in electronics, disassembling and reassembling radios as a child. He graduated from Wuhan University in 1991 with a Bachelor of Science degree in Computer Science.
Rise to Success
Lei Jun's career began in 1992 at Kingsoft, where he became CEO in 1998. He led the company to an IPO in 2007. In 2000, he founded Joyo.com, which he sold to Amazon in 2004 for $75 million. In 2010, Lei founded Xiaomi with several partners, quickly becoming a leading smartphone brand. Xiaomi's valuation reached over $46 billion by 2014.
Key Business Strategies
Xiaomi's success is attributed to its direct-to-consumer sales, competitive pricing, and strong online presence. Lei Jun's strategy focused on delivering high-quality products at accessible prices, fostering a loyal customer base and rapidly expanding into global markets. The company's expansion into the electric vehicle (EV) market with the SU7 electric sedan is a significant recent move.
Philanthropy
Lei Jun is known for his philanthropic efforts. In 2021, he donated over $2.2 billion worth of Xiaomi shares to charity. In November 2023, he donated 1.3 billion yuan (approximately $183 million) to Wuhan University, his alma mater, to support tech innovation and talent cultivation, the largest individual donation to a Chinese university.
