Entrepreneurs

Lei Jun: The Man Who Built Xiaomi and Took on the Car Industry

From writing computer software to building one of China's biggest technology companies, his career has taken some surprising turns.

Fame Katha Editorial Team 5 days ago

0 9 11 minutes read

Lei Jun, founder and CEO of Xiaomi, Chinese technology entrepreneur — Lei Jun, the Chinese entrepreneur who co-founded Xiaomi in 2010.

Last Updated on October 9, 2026 by Fame Katha Editorial Team

Table of Contents

Introduction

Lei Jun is a Chinese billionaire entrepreneur. He is best known for founding Xiaomi.

Today, millions of people use Xiaomi products. The company sells smartphones, tablets, smart home devices, and electric cars. But the man behind this business started his career in software, long before Xiaomi existed.

His journey took decades. There were tough decisions, business changes, and a few big risks.

So, who is the Xiaomi founder? How did he build his fortune? And what is he working on in 2026?

Here is his story.

Quick Facts

Detail	Information
Full Name	Lei Jun
Chinese Name	雷军
Birth	December 1969
Age	56 years old (October 2026)
Birthplace	Xiantao, Hubei, China
Nationality	Chinese
Profession	Entrepreneur and technology executive
Education	Bachelor’s degree in Computer Science
University	Wuhan University
Graduation Year	1991
Known For	Co-founding Xiaomi
Current Position	Xiaomi Chairman and CEO
Other Position	Kingsoft Chairman
First Major Employer	Kingsoft
Year Xiaomi Started	2010
Marital Status	Married
Children	Two
Estimated Net Worth	Around $21 billion (September 2026 Forbes estimate)
Main Wealth Source	Technology businesses and investments

Early Life and Family Background

Lei was born in December 1969. His hometown is Xiantao, in China’s Hubei province.

His childhood was quite different from his life today.

A 2020 South China Morning Post profile described him as coming from a family of teachers. He did not grow up surrounded by the huge technology businesses he would later help build.

Computers were still uncommon in China. Even so, technology caught his interest.

That interest stayed with him.

During his younger years, China was changing. Personal computers were becoming more useful, and software businesses were starting to grow.

For someone interested in technology, there was plenty to learn.

Lei eventually chose computer science. That decision opened the door to his professional career.

Education and University Years

He entered Wuhan University in 1987.

At university, he studied computer science. His interest went beyond passing examinations or earning a degree.

He wanted to understand business, too.

One book made a strong impression. It was Fire in the Valley, which tells the story of the early personal computer industry.

According to Wuhan University, reading the book helped him develop his ambition to start a technology business.

He also set himself tough academic goals.

The university reports that he planned to finish his course credits in two years. He spent long hours studying and learning programming.

His official graduation came in July 1991.

He received a bachelor’s degree in Computer Science.

That education later became useful. He would spend many years managing software businesses before entering the smartphone market.

Wuhan University remained important to him. Years later, he returned to support students and research through major donations.

Starting His Career at Kingsoft

His professional journey began in 1992.

That year, he joined Kingsoft, a Chinese software company.

Kingsoft worked on software products, including office applications. The company was growing during a period when computers and the internet were changing business life in China.

Lei worked in technical and management roles.

His responsibilities grew with time.

Becoming CEO

In 1998, he became Kingsoft’s chief executive officer.

This was a big responsibility. He was now leading a business competing in a changing software market.

Under his management, Kingsoft expanded into several areas.

These included office applications, internet security software, utility programs, and online games.

The company also moved more of its business towards internet-based services.

He remained CEO until December 2007.

By then, Kingsoft had completed its listing on the Hong Kong Stock Exchange.

Lei stepped down from his executive management roles that year. But his relationship with the company continued.

In July 2011, he became chairman of Kingsoft.

He still holds that position in 2026.

According to Kingsoft’s official board profile, he also serves as a non-executive director.

The Online Shopping Business Before Xiaomi

Smartphones were not his first big business idea.

In 2000, Lei founded Joyo.com.

It was an online retail business. The platform became known for selling books and other consumer products in China.

At that time, online shopping was still developing.

Joyo gave him experience outside software. He could now see how an internet business reached customers and handled online sales.

Then came an important deal.

In 2004, Amazon acquired Joyo.com for approximately $75 million.

The sale became one of his early business successes.

It also showed that Chinese internet businesses could attract major international buyers.

Later, Amazon developed the acquired operation as part of its business in China.

For Lei, the experience added another part to his career. He had managed software and built an online retail company.

His next project would be much larger.

Building a Career as an Investor

After leaving Kingsoft’s daily management in 2007, he became more active as an angel investor.

He invested in young technology businesses.

Some worked in mobile internet services. Others focused on online entertainment or communication.

His publicly documented investments include UCWeb and JOYY, formerly known as YY.

UCWeb developed mobile browser products and was later acquired by Alibaba.

JOYY became known for online social and entertainment services.

Lei also helped establish Shunwei Capital in 2011 with Tuck Lye Koh.

The investment business focused on technology companies and other growing sectors.

This work gave him experience with founders, new products, and changing consumer habits.

Still, he was interested in building another company himself.

That company was Xiaomi.

How the Smartphone Business Began

Xiaomi was founded on April 6, 2010.

Lei started the business with several partners, including Lin Bin, Liu De, Li Wanqiang, Hong Feng, Huang Jiangji, and Zhou Guangping.

The team included people with experience at major technology companies.

Their idea was simple.

Good technology should not always mean high prices.

At the time, established smartphone brands had a strong position in the market. Lei and his team wanted to offer competitive devices while keeping prices accessible.

But Xiaomi did not begin by releasing a phone.

It started with software.

The First MIUI Software

In August 2010, Xiaomi released the first version of MIUI, its Android-based software.

The early software attracted users interested in changing and improving their phone experience.

Xiaomi listened to customer feedback.

It also built an online community around its products.

That community became important when the company began selling smartphones.

The First Smartphone

On August 16, 2011, Xiaomi introduced its first smartphone, the Mi 1.

The phone launched in China at a price of RMB1,999.

Its combination of features and pricing helped attract attention.

Xiaomi also used online sales.

This allowed the company to reach customers without depending entirely on traditional physical stores.

The business started growing.

And the product range grew with it.

How Xiaomi Became a Global Brand

The company’s growth was quick.

In 2013, Xiaomi introduced its Redmi smartphone range. These devices gave buyers another lower-priced option.

The company soon expanded beyond China.

In 2014, it began a major period of international growth, including entering India.

Its products attracted customers who wanted useful features without paying premium prices.

Xiaomi kept adding products.

Smart TVs, tablets, wearables, and smart home devices became part of its business.

The company also worked with other hardware manufacturers through its connected-device business.

Lei wanted customers to use Xiaomi products throughout everyday life, from phones to household appliances.

The Stock Market Listing

July 9, 2018, marked another important moment.

Xiaomi officially listed on the Hong Kong Stock Exchange.

Its stock code is 1810.HK.

The listing gave the business access to public investors and marked a new stage in its corporate history.

In 2019, Xiaomi entered the Fortune Global 500.

By 2026, Xiaomi products were available in more than 100 countries and regions.

The company’s official history records its major product launches, international expansion, and development into electric vehicles.

Why His Business Strategy Attracted Attention

Lei took an approach that differed from many traditional electronics companies.

He wanted to keep hardware prices competitive while building long-term relationships with customers.

Online sales were important in Xiaomi’s early years.

Customer feedback mattered, too.

People could share opinions about software and devices through Xiaomi’s online communities.

The company used that feedback to update products and develop future versions.

In 2018, Xiaomi committed to keeping the net profit margin of its overall hardware business at no more than 5%, after tax.

That promise helped explain its pricing strategy.

Of course, running a large technology business involves costs, competition, and difficult decisions.

Low prices alone cannot guarantee success.

Xiaomi had to keep developing products while competing with Apple, Samsung, Huawei, and other manufacturers.

Its product range and sales approach continued to change as the business matured.

Entering the Electric Car Business

Then came another big decision.

In March 2021, Xiaomi announced plans to enter the smart electric vehicle market.

This was a new kind of challenge.

Making a smartphone is different from building a car.

Vehicles require large factories, complex parts, safety testing, and extensive engineering.

Still, Lei chose to move ahead.

Xiaomi announced an initial investment of RMB10 billion in the new business, with an estimated US$10 billion investment plan covering the following decade.

Lei took responsibility for leading Xiaomi’s electric vehicle operation.

Launching the First Electric Sedan

On March 28, 2024, Xiaomi launched the SU7 electric sedan.

The original model range included three versions.

Model	Original Starting Price
SU7 Standard	RMB215,900
SU7 Pro	RMB245,900
SU7 Max	RMB299,900

These were the original China launch prices, not current showroom quotations.

The SU7 placed Xiaomi in direct competition with established electric car manufacturers.

The company later introduced the higher-performance SU7 Ultra and expanded into SUVs with the YU7 in 2025.

The vehicle business gave Lei another large area to manage.

It also came with challenges.

In September 2025, Xiaomi announced a software-related recall covering more than 115,000 SU7 vehicles because of concerns involving an assisted-driving feature in certain conditions.

The company planned a software update to address the issue.

The recall showed how vehicle safety and regulatory standards had become part of Xiaomi’s responsibilities.

Current Business Activities in 2026

Lei remains Xiaomi’s chairman and CEO.

He is also involved in the company’s electric vehicle strategy and long-term product plans.

The business now covers smartphones, connected devices, AI technology, and vehicles.

Its recent financial reports show both growth in new areas and pressure on its older smartphone business.

Latest Financial Performance

Xiaomi reported its second-quarter 2026 results in August.

Business Indicator	Q2 2026 Result
Total Revenue	RMB108.9 billion
Adjusted Net Profit	RMB6.2 billion
Smartphone Shipments	31.2 million
Smart EV Deliveries	104,199 vehicles
Revenue From Smart EV, AI and Other New Initiatives	RMB24.9 billion

The figures tell an interesting story.

Xiaomi’s electric vehicle business was growing, but its smartphone operation faced pressure from component costs and competition.

Its adjusted net profit fell compared with the same quarter in 2025.

Lei now has to handle the demands of several large businesses while keeping Xiaomi competitive.

The latest figures are available through Xiaomi Investor Relations.

Other Companies and Business Positions

Xiaomi is his best-known company, but it is not his only business connection.

His work at Kingsoft continues.

He serves as chairman and non-executive director of Kingsoft Corporation. He has also been a director of Kingsoft Office since December 2011.

For several years, he was chairman of Kingsoft Cloud.

That position ended on March 25, 2026, when he resigned from the company’s board because of other business commitments.

He remains associated with technology investment through his earlier work in the sector.

These different roles show how his career developed from software management into business ownership and investment.

Wife, Children and Private Life

Many readers want to know about his family.

Public information is limited.

Forbes confirms that he is married and has two children.

He has generally kept detailed information about his wife and children outside his public business profile.

His family’s personal life receives far less attention than his companies.

That is why names and private details found on smaller biography websites should be checked carefully before publication.

His public story is mainly about software, investment, and business leadership.

Net Worth and Sources of Wealth

Lei is one of China’s well-known technology billionaires.

But how much is he worth?

According to Forbes, his estimated wealth was around US$21 billion in September 2026.

This figure can change.

A large part of his fortune comes from business ownership and investments. Share prices and company valuations can move quickly.

His wealth is connected mainly to Xiaomi and other technology businesses.

It is not the same as personal cash income.

A company’s value can rise or fall, and a billionaire’s estimated fortune often changes with it.

For the latest estimate, readers can check his Forbes billionaire profile.

Charitable Work and Education Donations

Lei has also supported education.

One of his largest publicly documented donations came in November 2023.

He donated RMB1.3 billion to Wuhan University.

That was approximately US$182 million at the time.

The donation was intended to support basic research, computer science work, and student education.

It was a major contribution to the university where he had studied decades earlier.

This was not his first charitable activity.

In July 2021, Hong Kong Stock Exchange disclosures recorded his donation of more than 616 million Xiaomi Class B shares to two charitable foundations.

The shares were divided between Xiaomi Foundation Limited and Lei Jun Foundation Limited.

His donations show a long-running connection with education and charitable causes.

Awards and Public Recognition

His business career has attracted international recognition.

In 2014, Forbes Asia named him its Businessman of the Year.

At that time, Xiaomi’s strong growth in the smartphone market was drawing attention from investors and other businesses.

In 2015, TIME included him in its annual list of the 100 Most Influential People.

His career has also received recognition within China.

These honours reflect the public attention his work attracted as Xiaomi grew.

Career Timeline

Year	Major Event
1969	Born in December
1987	Entered Wuhan University
1991	Graduated in Computer Science
1992	Joined Kingsoft
1998	Became Kingsoft CEO
2000	Founded Joyo.com
2004	Amazon acquired Joyo.com
2007	Stepped down as Kingsoft CEO
2010	Co-founded Xiaomi
2011	First Xiaomi smartphone launched
2011	Became Kingsoft Chairman
2014	Forbes Asia Businessman of the Year
2015	Included in TIME 100
2018	Xiaomi listed in Hong Kong
2019	Xiaomi entered Fortune Global 500
2021	Announced electric vehicle plans
2023	Donated RMB1.3 billion to Wuhan University
2024	Xiaomi SU7 launched
2025	Xiaomi YU7 launched
2026	Continued leading Xiaomi’s technology and car businesses

What Makes His Career Different?

There is one interesting part of his story.

He did not build Xiaomi as his first business.

Before that, he had already managed a major software company, started an online shopping platform, and invested in internet businesses.

That experience mattered.

He had worked with engineers. He understood software development. He had seen how customers responded to online services.

Those lessons influenced Xiaomi’s early business model.

Another interesting point is his willingness to enter new markets.

After years in smartphones, he moved into electric vehicles.

That came with higher costs and new safety responsibilities.

Whether Xiaomi can maintain long-term success in the car market will depend on its products, finances, engineering, and customer trust.

For now, Lei remains closely involved in those decisions.

Final Thought

Lei Jun’s career started with computers.

His early years at Kingsoft helped him learn how to manage a technology company. Joyo.com gave him experience with internet retail. Then Xiaomi brought his work to a much larger audience.

The electric car business opened another chapter.

His story is still developing.

As of 2026, he continues to lead Xiaomi while the company builds smartphones, connected devices, and vehicles for customers around the world.

His career shows how experience in one business can help someone take on a very different challenge years later.