Lei Jun
Source of wealth: Smartphones, automobiles
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Modules
Biography
Lei Jun is cofounder, chairman and CEO of Hong Kong-listed Xiaomi, one of the world's most popular smartphone brands.
Best known for its value-for-money devices, Xiaomi has also been trying to crack the high-end market.
The company is making inroads in the electric vehicle market as well, after Lei first announced his EV ambition in 2021.
So far, Xiaomi has launched the SU7 electric sedan and the YU7 electric SUV. Both models are known for their affordable prices and stylish design.
Lei is also the chairman of Hong Kong-listed software firm Kingsoft and an investor in JOYY, a Nasdaq-listed live-streaming and social media platform formerly known as YY.com.
Financial Assets
The Great Lie of Mega-Fortunes: The Case of Lei Jun
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 Lei Jun, linked to Technology and 'Smartphones, automobiles', 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 161 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 10.6 years, proves that unlimited accumulation is not an entrepreneurial achievement, but the hijacking of democratic sovereignty.