Though Lei Jun has been criticized in the past for his investment strategies, it appears that some of his bets are paying off, especially given the recent IPO of China’s social game network YY.
According to a report from Forbes, Lei Jun’s $1 million investment in the social gaming portal back in 2005 has technically yielded a hundred-fold return. His 10 million Class A common shares and his 215 million Class B common shares in YY are now worth $129 million.
If there is any vindication for Lei Jun it is that he is now estimated to have a net worth of $1.5 billion according to Forbes’ estimate in October. In addition to his phone company Xiaomi, he has minority stakes in other mostly successful companies, including anti-virus firm Kingsoft, online clothing retailer Vancl, e-payment service Lakala, and mobile browser UCWeb.
Even though Chinese IPO’s have been wrapped up in accounting scandals in recent years, the advance of tech companies in China is a force that should not be ignored. There truly is a lot of growth potential in this market, and they are already slowly branching out to other markets.