Bloomberg Billionaires Index

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# 104 Xu Hang $15.4B

Random fact: Invests 10 percent of revenue into research and innovation.

Overview

Xu is a co-founder of Shenzhen Mindray Bio-Medical Electronics, a Chinese medical equipment maker. The Shenzen-based company had revenue of 25.3 billion yuan ($3.9 billion) in 2021. Its products are exported to more than 190 countries around the world and it has more than 14,000 employees around the world.

As of :
Last change +$1.04B ( +7.2%)
YTD change -$2.91B ( -15.9%)
Biggest asset 300760 CH Equity
Country / Region Hong Kong
Age 60
Industry Health Care
View net worth over:   Max 1 year 1 quarter 1 month 1 week

Relative Value

Xu Hang's net worth of $15.4B can buy ...

0
troy ounces of gold
0
barrels of crude oil

... and is equivalent to ...

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of the GDP of the United States
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of the total wealth of the 500 richest people in the world
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of the top 100 U.S. college endowments
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of the top 200 U.S. executives’ total awarded compensation
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of U.S. existing home sales
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times the median U.S. household income

Latest News

Net Worth Summary

Cash
Private asset
Public asset
Misc. liabilities
Confidence rating:

Xu is the co-founder of Shenzhen Mindray Bio-Medical Electronics, a Chinese medical equipment maker. The Shenzen-based company reported revenue of 16.6 billion yuan ($2.3 billion) in 2019. Its products are exported to more than 190 countries around the world and it has more than 14,000 employees around the world, according to its website.

Xu owns a 27% stake through holding companies, according to an April 19, 2022 filing. About 8% of the shares are pledged and removed from the net worth calculation. An update to the pledged share count led to a $1 billion decrease on Dec. 31, 2021.

A liability is applied, based on an analysis of a 2016 privatization loan as well as dividends, stock performance and tax.

Li Wenmei, spokeswoman of the company, declined to comment on the net worth calculation.

Biography

Birthdate: 1/1/1962
Family: Unknown, No children
Education: China Europe International Business School, Tsinghua University, Tsinghua University

Born in 1962, Xu graduated from Tsinghua University with a bachelors degree in computer science and a masters degree in electrical engineering. He joined a medical equipment firm in Shenzhen in 1987 and worked there for about four years.

In 1991, he co-founded Mindray and the company began trading publicly in New York in 2006. A consortium led by Xu and co-founder Li took the company private a decade later.

Mindray relisted on the ChiNext board in Shenzhen in October 2018. It was the largest IPO to have occurred on the board at the time.

Milestones
  • 1991 Xu starts Mindray with business partners.
  • 2006 Mindray begins trading publicly in New York.
  • 2016 A consortium takes Mindray private.
  • 2018 Mindray relists in Shenzhen through an initial public offering.