Li Xiting

Li was born in a village of his family's name in Dangshan County in Suzhou, Anhui, China.[3][4]

Li graduated from the University of Science and Technology of China with a bachelor's degree in low temperature physics.[5]

Between 1976 and 1987, Li worked as a researcher assisting scholars at institutes in Wuhan, China and France. He was a visiting scholar at Paris-Sud University in the early 1980s.[5][4]

Li's first attempt at entrepreneurship was at Shenzhen Anke High-tech Company, a partially state-owned enterprise set up by the Chinese Academy of Sciences (CAS) in the 1980s. The company would arguably become China's very first home-grown developer of medical devices, and launched the nation's first magnetic resonance imaging (MRI) scanner in 1989.[3]

Li founded medical equipment manufacturer Mindray in 1991 with Xu Hang and Cheng Minghe.[4]

Li secured Mindray's first contract, a 360,000 yuan sale, at a medical equipment convention in the 1990s.[3][5]

Mindray listed on the New York Stock Exchange in 2006, raising $270 million.[3]

In 2016, Li and the other two co-founders of Mindray took the company private in $1.9 billion deal.[6][7]

Li became a citizen of Singapore in 2018.[3]

During the COVID-19 pandemic, it was estimated that Li's net worth was increasing by $1 billion every month as Mindray's stock price increased due to high demand for ventilators.[8][9]

In April 2021, Forbes estimated Li's net worth to be $21.5 billion.[1]