Are You OK? The Billionaire Who Became a Meme
He finished university in two years. He sold a website to Amazon. Then he built Xiaomi.
In 2021, Lei Jun made a promise he called the last big project of his life.
Xiaomi, the smartphone company he founded, would build electric cars.
Many people laughed. Three years later, the Xiaomi SU7 was on the road, and it became a hit.
A fast learner from Hubei
Lei Jun was born in 1969 in Xiantao, Hubei province, China.
He studied computer science at Wuhan University and finished his degree in just two years, graduating in 1991.
Kingsoft and Joyo
In 1992, Lei joined Kingsoft, a Chinese software company. He worked famously long hours and became its CEO.
He also founded Joyo.com, an online store selling books and more. In 2004, he sold Joyo to Amazon.
He then became an angel investor, backing startups including UCWeb.
Starting Xiaomi
In April 2010, Lei and a group of co-founders started Xiaomi, which means "little rice."
The idea: great phones at honest prices, sold online, with software updated often based on fan feedback. Xiaomi fans helped test and shape its products.
Xiaomi grew into one of the biggest smartphone makers in the world. In 2015, at a launch in India, Lei's cheerful English "Are you OK?" became a viral meme. He embraced the joke.
In July 2018, Xiaomi listed on the Hong Kong Stock Exchange.
The car bet
In March 2021, Lei announced Xiaomi would build electric cars and personally lead the project.
In March 2024, Xiaomi launched the SU7 sedan. Orders poured in. In 2025, it launched the YU7 SUV.
The journey had hard moments. In March 2025, a fatal crash involving an SU7 using driver assistance raised serious safety questions, and Xiaomi pledged to cooperate with investigators.
Where he is now
Today, Lei Jun is founder, chairman and CEO of Xiaomi. By September 2026, Xiaomi had delivered more than 800,000 electric cars and launched new extended range SUVs, aiming for 550,000 car sales in 2026.
Why the story matters
Lei Jun's story shows how a founder can keep reinventing a company. Software, online shopping, phones, and now cars.
For young builders, the lesson is simple. Listen closely to your fans, work relentlessly, and do not be scared to enter an industry everyone says you cannot win.
He did not stay a phone company. He drove into the future.
The Record
Born: 1969
From: Xiantao, Hubei, China
Studied: Computer science, Wuhan University
Built: Joyo.com, Xiaomi
Role: Founder, chairman and CEO of Xiaomi
Timeline
1969 Born in Hubei.
1991 Graduates from Wuhan University.
1992 Joins Kingsoft.
2004 Sells Joyo.com to Amazon.
2010 Co-founds Xiaomi.
2018 Xiaomi lists in Hong Kong.
2021 Announces Xiaomi EVs.
2024 Launches the SU7.
2025 Launches the YU7.
2026 Passes 800,000 EV deliveries.