Headed by He Xiangjian, the co-founder of consumer electronics group Midea, who was estimated to have a personal net worth of $15.2 billion as of July 2017, there is little information publicly available about the Xiangjiang family. The majority of their wealth is derived from He’s 34 per cent stake in the Midea company, which its website claims is the world’s largest manufacturer of home appliances. His shares are held directly and through the Midea Holding Company, although this entity doesn’t disclose its own financial results. He also owns an 84 per cent stake in Midea Real Estate Holding, a property management firm publicly traded in Hong Kong since October 2018. He is said to own this stake through his daughter-in-law Le Deyan, who controls the shares with three companies domiciled in the British Virgin Islands. He resigned as chairman of GD Midea in 2009 and sold some of his stake to investors in 2011. After his retirement, Fang Hoingbo was appointed chairman, and his son, He Jianfeng, remains the director of the company.
