Shares hit the ceiling on the stock market: Back to the top

Xiaomi's shares reached a historic record of 61.45 Hong Kong dollars. This development has returned the company's founder and CEO, Lei Jun, to the position of China's richest person.

Lei Jun had previously earned this title in February by increasing his wealth to 440 billion yuan (approximately 68 billion dollars). However, a decline in shares following a Xiaomi vehicle accident in March caused him to fall back in the wealth rankings.

Behind Xiaomi's recent success lies the launch of its new flagship model, the YU7. This model received great interest, garnering 300 thousand pre-orders within just one hour of its release. This situation boosted investor confidence, triggering an upward movement in the company's shares.

In the Forbes China Rich List published in November 2024, the founder of the beverage brand Nongfu Spring had ranked first for the fourth consecutive time with a fortune of 50.8 billion dollars. However, Xiaomi's recent successes have shifted these balances and carried Lei Jun back to the top.

News Source: 12punto