Dong MingZhu (Left) with Lei Jun (Right)
Hello Mi Fans!
Today I’d like to share with you a bet worth $10 BILLION YUAN that Lei Jun (Xiaomi CEO) had with Dong Mingzhu (CEO of Gree Electric). In case you aren’t sure who is she, here’s a quick wiki about her:
And if you aren’t sure what is Gree Electric, here’s also a quick wiki:
To summarise things, Dong Mingzhu and Lei Jun met at the 2013 Economic Personnel Ceremony. Lei Jun told Dong Mingzhu that if Xiaomi sales overtook Gree in 5 years, he would like her to pay him 1 Yuan ($0.20 SGD). Dong Mingzhu replied to Lei Jun, “I’ll bet you 10 billion dollars!”
In 2013, Xiaomi’s total sale amount was 31.6 billion yuan while Gree's total sale amount was 120.043 billion yuan. As of October 2017, Xiaomi’s total sales has exceeded 100 billion yuan and Gree’s revenue in the first three quarters of 2017 is 112.02 billion yuan. It is likely that Xiaomi will be able to catch up with Gree in 2018.
Recently, Dong Mingzhu remarked: "I believe I can win. In fact, it does not matter whether it is really important or not."
What do you guys think of this bet? Leave your comments below!
[Entertainment] Lei Jun’s 10 Billion Dollar bet on Xiaomi’s Success in 2018