Trump’s Move Cost Bosses at China Tech Giant $4.5 Billion
- Shares plunge by a record after hitting a peak last week
- Lei and Lin are the biggest losers among Xiaomi’s billionaires
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The Trump administration’s surprising blacklisting of Xiaomi Corp. is costing its top executives big bucks.
Lei Jun, the chief executive officer who co-founded the smartphone maker about a decade ago, lost almost $3 billion as the stock tumbled a record 10%, according to the Bloomberg Billionaires Index. Lin Bin, the company’s vice chairman, is down $1.5 billion, and the fortune of at least five other billionaire shareholders has also dropped.