What is Li Xiting’s Net Worth?
Li Xiting, a prominent figure in the medical equipment industry, has an estimated net worth of $15.09 billion. This substantial fortune primarily stems from his role as the co-founder and chairman of Shenzhen Mindray Bio-Medical Electronics, a leading manufacturer of medical devices.
In 1991, Li co-founded Mindray with Xu Hang and Cheng Minghe in Shenzhen, China. The company quickly gained traction, securing its first contract with a 360,000-yuan sale at a medical equipment convention. Over the years, Mindray expanded its operations, eventually listing on the New York Stock Exchange and raising $270 million. In a strategic move, Li and his co-founders took the company private in a $1.9 billion deal.
The COVID-19 pandemic significantly boosted Li’s net worth, as the demand for ventilators and other medical equipment surged globally. During this period, his wealth increased by an estimated $1 billion per month, highlighting the critical role of Mindray’s products in the healthcare industry. Despite a recent decrease in his net worth from $16.30 billion in 2023 to $15.09 billion in 2024, Li remains a dominant figure in the industry, with his wealth seeing a recent uptick of $184.57 million.
Mindray employs around 17,000 individuals, with a significant portion dedicated to research and development, ensuring the company remains at the forefront of medical technology innovation. The company’s products are sold in over 190 countries, underscoring its global impact.
Here’s the breakdown of Li Xiting’s net worth:
Name: | Li Xiting |
Net Worth: | $15.09 Billion |
Date of Birth: | 1951 |
Profession: | Businessperson |
If you’re curious about how we estimate a celebrity’s net worth, you can check out our methodology here.
Early Life and Education
Li Xiting was born in 1951 in Dangshan County, Anhui Province, China. Growing up in a financially disadvantaged family, Li’s early life was marked by economic hardships. Despite these challenges, he excelled academically, demonstrating a keen intellect and a strong determination to succeed. At the age of 18, he joined the Chinese army, which was a common path for many young men in rural China at the time.
After completing his military service, Li pursued higher education, enrolling at the University of Science and Technology of China (USTC). He graduated in 1976 with a Bachelor of Science degree in low temperature physics, a field that laid the foundation for his future endeavors in the medical equipment industry.
Career
Li Xiting’s career began in academia, where he worked as a researcher at various institutes in Wuhan, Hubei, and later as a visiting scholar at Paris-Sud University in France during the early 1980s. His first foray into entrepreneurship was with Shenzhen Anke High-tech Company, a partially state-owned enterprise established by the Chinese Academy of Sciences. This company became one of China’s first home-grown developers of medical devices, launching the nation’s first magnetic resonance imaging (MRI) scanner in 1989.
In 1991, Li co-founded Shenzhen Mindray Bio-Medical Electronics with Xu Hang and Cheng Minghe. The company quickly gained a foothold in the medical equipment market, securing its first contract with a 360,000-yuan sale at a medical equipment convention. Mindray’s growth was rapid, and in 2006, the company went public on the New York Stock Exchange, raising $270 million. In 2016, Li and his co-founders took the company private in a $1.9 billion deal.
The COVID-19 pandemic further accelerated Mindray’s success, with a significant increase in demand for ventilators and other medical devices, boosting Li’s net worth substantially.
Personal Life
Li Xiting moved to Singapore and became a naturalized citizen in 2018.
Despite his immense wealth, Li is known for his philanthropic efforts. He has made significant donations to various causes, including earthquake relief efforts in China and contributions to his alma mater, the University of Science and Technology of China.
During the COVID-19 pandemic, Li donated millions of dollars worth of medical equipment to hospitals in Wuhan, Italy, and other hard-hit areas, demonstrating his commitment to global healthcare.
Ashley Roberts is the founder of Real-Time Billionaires List. She founded this platform because she likes to know how much celebrities are actually making. She is always curious why these people can make much more money than the ordinary person.
With a Bachelor’s degree in finance, she is skilled at financial analysis and understands numbers related to wealth. Most of the articles on this site are edited by herself before publishing.
