The head of Xiaomi lost $ 150 million

The founder and head of the Chinese company Xiaomi, Lei Jun (Lei Jun), fell through 1 billion yuan, overestimating

the possibility of his "brainchild".

What argued

It happened in 2013, when Xiaomi was stillyoung green company. In the air of one of the Chinese TV channels Jun met with Dong Mingzhu - the head of Gree Electric Appliances Inc. - China's largest air conditioner manufacturer.

No one didn’t pull Lei Jun by his tongue, but he declared to the whole country that in 5 years Xiaomi’s income would be greater than that of Gree.

“Let the whole country witness: if in five years our revenues exceed those of Gree, Chairman Dun, please pay me one yuan, ”Jun said then. But the Mingzhu offered to raise rates to 1 billion yuan, and now it is $ 148.4 million.

Perhaps everyone has already forgotten about this dispute, but ondays, Gree published a financial report for 2018. The company's revenue amounted to 198 billion yuan ($ 29.4 billion), which is almost 20 billion yuan more than Xiaomi.

Will Lei Jun admit defeat and demandWhether Dong Mingzhu his winnings is still unknown, both companies refuse to comment. Perhaps due to the fact that gambling is prohibited in mainland China. At the same time, Lei Jun is not in trouble and now he can afford such “expenses”: judging by Xiaomi’s annual report for the Hong Kong Stock Exchange, over the year he received about $ 1.5 billion and deservedly became the highest paid employee of Xiaomi.