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[Entertainment] Lei Jun’s 10 Billion Dollar bet on Xiaomi’s Success in 2018

2017-12-26 03:33:53
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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:
Dong Mingzhu (born 1954) is a Chinese businesswoman. She is the Chairwoman of Gree Electric. In 2013, Dong was named one a Forbes Asia "Woman in the Mix" for business. The New York Times called her "one of the toughest businesswomen in China.
And if you aren’t sure what is Gree Electric, here’s also a quick wiki:
Gree Electric Appliances Inc. of Zhuhai is a Chinese major appliance manufacturer headquartered in Zhuhai, Guangdong province. It is the world's largest residential air-conditioner manufacturer. The Company offers two types of air conditioner: household air conditioners and commercial air conditioners. The Company also provides electric fans, water dispensers, heaters, rice cookers, air purifiers, water kettles, humidifiers and induction cookers, among others. The Company distributes its products within China’s domestic market and to overseas markets under the brand name of Gree.
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!
2017-12-26 03:33:53
Favorites8 RateRate
Having personally met Lei Jun before, I felt that his passion for Xiaomi is really insurmountable - an extremely humble but yet carrying a thorough and serious attitude in his work. But having to bet $10 billion yuan of his wealth on this...wow...
2017-12-26 03:37:11

Mi FC President

Shairuddin | from MI MAX 2


I Personally Like Respect Founder of Xioami Lei Jun ! He was a Role Model For Me and Congratulations to the Great Success from Global
2017-12-26 07:28:28

Pro Bunny

Thant Zin Aung | from Redmi Note 4


Their products are not same,So this can't be compare with bet.
2017-12-26 09:49:10

Advanced Bunny

mshahul12 | from Redmi 4X


Xiaomi is one of the best company
2017-12-26 20:33:03

Master Bunny

Kerk Lik Christopher | from Redmi Note 3


Xiaomi is getting bigger, stronger & reliable (^^)v
2017-12-27 07:08:59
Thant Zin Aung replied at 2017-12-27 00:49:10
Their products are not same,So this can't be compare with bet.

True, the business models of both companies are entirely different, apples & orange, but Lei Jun was still willing to take this bet on!!
2017-12-27 19:18:25
Kerk Lik Christopher replied at 2017-12-27 22:08:59
Xiaomi is getting bigger, stronger & reliable (^^)v

Wonder how it will grow over the next 5 years!!
2017-12-27 19:18:38
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