Bloomberg Billionaires Index

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# 112 Xu Hang $15.9B

Random fact: Products are supplied to two-thirds of US hospitals.

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 +$25.0M ( +0.2%)
YTD change +$1.39B ( +9.6%)
Biggest asset 300760 CH Equity
Country / Region Hong Kong
Age 61
Industry Health Care
View net worth over:   Max 1 year 1 quarter 1 month 1 week

Relative Value

Xu Hang's net worth of $15.9B can buy ...

0
troy ounces of gold
0
barrels of crude oil

... and is equivalent to ...

0%
of the GDP of the United States
0%
of the total wealth of the 500 richest people in the world
0%
of the top 100 U.S. college endowments
0%
of the top 200 U.S. executives’ total awarded compensation
0%
of U.S. existing home sales
0
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 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, according to its website.

Xu owns a 25% stake through holding companies, according to a company filing dated Nov. 15, 2022 and the 2022 third-quarter report. About 6% of the shares are pledged and removed from the net worth calculation.

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:
Family: Unknown, No children

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.