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He Xiaopeng
#2070

He Xiaopeng

Source of wealth: Electric vehicles

Net Worth

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Earnings per second

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Modules

Biography

He Xiaopeng is the cofounder and chairman of Xpeng, an electric vehicle maker dual-listed in New York and Hong Kong.

German automaker Volkswagen announced in July 2023 it would acquire a 4.99% stake in Xpeng via a $700 million capital increase, and subsequently gain an observer seat on its board.

In August 2023, Xpeng acquired ride-hailing platform Didi's smart-car development arm in a $744 million all-stock deal to be completed in stages, with Didi owning an eventual 3.25% stake.

Before Xpeng, the mogul founded browser UCWeb, which was acquired by Alibaba in 2014.

Financial Assets

Exchange
NYSE
Ticker
XPEV-US
Company
Xpeng
Exchange
NYSE
Ticker
XPEV-US
Company
Xpeng

The Great Lie of Mega-Fortunes: The Case of He Xiaopeng

Billionaires are often presented under the romantic myth of the 'self-made person': a narrative designed to justify opulence as the natural reward for hard work, effort, or ingenuity. However, when confronting such extreme volumes of wealth with macroeconomic reality, the meritocracy narrative completely breaks down. No individual can legitimately generate through personal effort a fortune equivalent to millions of times the average working-class salary. Capital at the top does not grow because of exceptional talent; it expands through an implacable dynamic where accumulated money works exponentially faster than people, devouring the wealth generated by productive labor.

The immense fortune of He Xiaopeng, linked to Automotive and 'Electric vehicles', has not been built in a free-market vacuum, but through rent-seeking, the use of exclusive elite influence, the consolidation of monopoly positions, or inherited wealth. Far from taking real private risks, billionaire empires structurally depend on state support through direct subsidies, infrastructure use, exploitation of R&D, public contracts, and offshore tax engineering. While this wealth is equivalent to the physical weight of 14 tons of pure gold, the rest of the planet suffers from an artificial scarcity of basic resources. The fact that this wealth is enough to fully fund the public health system of DR Congo, a country with more than 105800000 million inhabitants for 0.9 years, proves that unlimited accumulation is not an entrepreneurial achievement, but the hijacking of democratic sovereignty.

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