Qiu Jianping & Family: A Billionaire Biography

Overview

Qiu Jianping is a Chinese billionaire who is the founder of Zhejiang-based Midea Group, one of the world’s largest producers of home appliances. He is also the creator of Wuhu, a city located in eastern China that serves as the headquarters of Midea.

Qiu is known as a self-made billionaire who started from humble beginnings to build a business empire. He is also recognized for his philanthropic work, having donated significant amounts of money to education and other charitable causes in China.

Early Life and Education

Qiu was born in 1945 in Nanjing, China. His family was poor, and he grew up in difficult circumstances. He attended Zhejiang University, where he studied metallurgy and graduated in 1969.

After finishing his studies, Qiu worked for a state-owned company called the Changhong Group, where he gained experience in the manufacturing industry. In 1981, he left Changhong to start his own business.

Career and Achievements

Qiu started Midea Group in 1968 with just five employees, initially operating out of a small workshop. The company made components for home appliances, but Qiu envisioned a larger role for the company in the rapidly growing home appliance market in China.

Under Qiu’s leadership, Midea expanded rapidly, becoming one of the largest producers of home appliances in China by the 1990s. In 2016, Midea Group acquired German robotics firm Kuka, marking a significant move into the high-tech sector.

As of 2021, Qiu had an estimated net worth of $16.2 billion, according to Forbes. He is one of the richest people in China, and his company is one of the largest home appliance producers in the world.

Personal Life

Qiu is married and has two children. He is known for being a private individual, with relatively little public information available about his personal life.

Qiu has been recognized for his philanthropy, particularly in the areas of education and poverty alleviation. In 2010, he donated $800 million to his alma mater, Zhejiang University, to establish a new school of engineering. He has also donated money to help poor students attend college in China.

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