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—
He Xiangjian
is one
conglomerate
richest in China.His coffers come from giant household appliance manufacturers,
Midea
.
Based on notes
Forbes
,
Sunday (21/12), He and his family’s wealth reached US$32.2 billion or around Rp. 537.41 trillion (assuming an exchange rate of Rp. 16,690 per US dollar).
His total wealth places He in 64th place on Forbes’ real-time list of the richest people.
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This year, He ranked 9th on Forbes’ list of the 100 Richest People in China and 75th on the World Conglomerate List.
So how did He go about building a global household appliances empire?
Reporting from various sources, He Xiangjian was born in Foshan, Guangdong, China, on October 5 1942.
There is not much information about his family background.Understandably, He is a conglomerate figure who is far from the media spotlight.
Reported
SCMP
, He’s business journey began when he was 26 years old.At that time, China began to open up to foreign and private investment.He did not waste this opportunity by opening a bottle cap factory with a capital of 5,000 yuan in 1968.
He employed 23 people in his village to help with this business.
After the factory was running, around the 1980s, He expanded his business by opening an electric fan factory under the “Midea” brand.
The company continues to grow to produce air conditioners (AC) and various other household electronic equipment.Due to quality and affordable prices, demand for Midea electronic equipment and tools continues to increase.
Thanks to He’s cool hands, in 1990, Midea became one of the household appliance giants in China.At that time, his investment was no joke, reaching 100 million yuan.In 1993, He took Midea to the floor on the Shenzhen Stock Exchange.
Midea began to aggressively expand into international markets when it opened a production factory in Ho Chi Minh City, Vietnam in 2007. At that time, the company’s sales were said to have exceeded 100 billion yuan.
It doesn’t stop there, the company also collaborates with a number of tool companies in various countries from the United States, India, Egypt to Germany.
In 2012, He decided to step down from the leadership of Midea to focus on developing Midea Investment Holding.However, He remains the majority shareholder.
His family controls about a third of the business of the multinational company, which has more than 200 subsidiaries.
After more than 50 years of existence, Midea’s market capitalization has now reached 613.26 billion yuan (around Rp. 1,454.3 trillion) and employs more than 190 thousand people spread throughout the world.
Become a Kidnapping Target
In mid-2020, He’s name made headlines in various media after being the target of kidnapping.
At that time, He was resting at his residence in the elite Royal Orchid International Golf Club complex, Foshan, Guangdong, China.Not long after, a group of unknown people broke in carrying explosive devices.
Luckily, his son, He Jiangfeng, managed to escape and called the police.Not long after, the police arrived and prevented the kidnapping attempt.A total of five people were named as suspects.
He now spends his old age with his family in Foshan.He has a wife and three children, including He Jiangfeng who is now one of the directors of Midea.
Outside the business world, He has an interest in the world of art.As a form of his love, He and his family opened the He Art Museum in Guangdong, China in 2020.
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