Singapore has always been a fascinating place. This Country/City has been the business hub of Southeast Asia. There are 298,650 Millionaires and 27 Billionaires in Singapore. The richest among them is Li Xiting, who is Chinese by birth but migrated to Singapore in 2012 and is its naturalized citizen.
- Li Xiting comes from a poor family. He was born in a village called Dangshan, a rural county near Shanghai, in China. He excelled in school. After graduating from school, he went on to study Low-Temperature Technology at the University of China in the city of Hefei.
- Li spent most of his time in the library of the college, learning all that was available about electronics. He became so knowledgeable that he could teach bio-medical electronics to his classmates.
- After graduation, Xiting got a job in the medical equipment field which gave him an assured income. His family could live in slightly better conditions, he recalled later. Two years later in 1991, he and a few friends started a company in the same field of advanced medical equipment.
Formation of Mindray, Medical Equipment Company:
- They named this company, Mindray, and manufactured equipment for clinical diagnosis. Xiting worked very hard. With a sharp mind and innovative ideas, Li Xiting and his team went on to produce more products like portable intensive care equipment for use in hospitals.
- Li Xiting was focused on making his company a great organization to compete with companies like Abbot Bio-Medical Electronics, GE Health Care, Danaher, etc. which are considered giants in the medical field.?
- Apart from monitoring and imaging equipment, Li’s company, Mindray Bio-Medical Electronics started manufacturing Ventilators which became a hot product during the pandemic time.
- Mindray has 5 manufacturing units in China and offices all over the globe, including the USA. Headquartered in Shenzhen, China, Mindray has?more than 50 overseas subsidiaries in nearly 40 countries in North America, Europe, Asia, Africa, Latin America, and other regions.
- Li Xiting' s fortune went up from $ 14 Billion to $ 27 Billion in 2021, which came down to $ 17.6 Billion in 2023 as per Forbes. Li attributes his success due to his teamwork and his determination to succeed, come what may.?
- Like the self-made billionaires all over the world, Li is also a dreamer, never afraid to fail, and stops at nothing but to become a success. Li is a great philanthropist and spends a huge fortune donating to all the higher educational institutions in China and in Singapore.
- This 72-year-old, Li Xiting is considered the Pride of Singapore.
These Rags to Riches stories point out one great lesson to all. That is, if one really remains focused on achieving success, the universe goes all out to support him. We find this help in all the endeavors of self-made billionaires.
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