Fortune magazine earlier this week released its yearly list of top 500 companies in the world. While Apple topped the list from the tech world, the number of Chinse firms on the list actually outscores those from the west. Samsung, Google and of course Google’s Alphabet made the list. But a rather new entrant to the top 500 list is China-based Xiaomi. With a ranking of 468th, a revenue of USD 26,443.50 million and a net profit of USD 2,049.10 million in the previous fiscal year, the China-based company became the youngest on the list as of 2019.
Lei Jun, Founder, Chairman, and CEO of Xiaomi in a statement yesterday said it is a milestone achievement that it owes a big thank you to all its Mi Fans and users for their unwavering support.
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Also as a way of giving back and saying thank you to its employees, Lei Jun, Founder, Chairman and CEO of Xiaomi in an open letter announced that a special package awaits all of its 20,538 co-workers and members of the key external teams. The special package? a total of 1,000 shares of Xiaomi stocks. 500 shares serve to celebrate the Global 500 achievement,and the remaining 500 are gifted to the family and loved ones of each coworker and partner for their support along the way.
Xiaomi enters Fortune Global 500
For the uninformed, the Fortune Global 500, or Global 500 for short, is a list of top 500 global companies. It is compiled and published by Fortune magazine based on revenue and net profit from the previous fiscal year. Xiaomi made it to the list only this ear in its 9 years of existence. You can hit here for the year 2019 top 500.