He Xiangjian & family
Source of wealth: Home appliances
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Biography
Entrepreneur He Xiangjian built Midea Group into one of the world's largest appliance makers.
In 1968, He led a group of 23 residents from the town of Beijiao in Guangdong province to form a lid production workshop that became Midea. It trades in both Shenzhen and Hong Kong.
Midea Group took German robotics firm Kuka private from the Frankfurt Stock Exchange in 2022 and became its sole owner.
He stepped down as chairman of Midea Group in 2012.
His son He Jianfeng is a director of Midea Group and Midea Real Estate Holding.
Perspective on their fortune
Gold
Everyday luxury
A He Xiangjian & family's fortune is equivalent to 238 of gold, but this may be difficult to value, as we don't usually have a handful of gold bars in our piggy bank.
A standard gold ring typically weighs between 4 and 7 grams. Let's say this one weighs 5 grams. It's usually 18k gold.
Based on today's gold price (not taking into account the jeweler's fee, shipping, or anything else), that gold ring would be worth $556.3
He Xiangjian & family could buy 63,466,883 gold rings. That's a lot of fingers and a lot of gifts!!
And if the number of rings is difficult to visualize, all these rings would need 11 trucks to transport them, But we can be almost certain that He Xiangjian & family will have enough left over to pay for the gas for those trucks.
Health
The price of life
Let's compare He Xiangjian & family's fortune with the healthcare spending of a huge country
He Xiangjian & family could fund the entire healthcare system of DR Congo with a population of over 105,800,000 of inhabitants for approximately 15.9 years.
But even if we compare their fortune to that of a rich country
At the other extreme, He Xiangjian & family could cover the health expenditure of Luxembourg, considered the world's most heavily invested health system, for 7.0 years
Education
Buying the future
Lowest education spending
He Xiangjian & family could assume the entire cost of the education system of Nigeria, the most populous country in Africa, with more than 243,000,000 inhabitants for 10.4 years.
Highest education spending
But not only could he assume the cost of a poor country, Luxembourg is considered the country with the highest per capita investment in education in the world, He Xiangjian & family could pay for it in full for 14.1 years.
Research
The monopoly of progress
Lowest research spending
He Xiangjian & family could fully fund the state research budget of Pakistan, the fifth most populous country in the world with more than 260,000,000 of inhabitants, for 59.4 years.
Highest research spending
But even if we compare the total wealth of He Xiangjian & family with Israel, the country that currently invests the most per capita in research in the world, it could assume the total cost of the system for 1.3 years.
Financial Assets
Monthly wealth history
Fortune comparison
Historical data not available for comparison