Millet: Lei Juns 10 billion yuan salary is entirely equity, which has been announced for public welfare.

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 Millet: Lei Juns 10 billion yuan salary is entirely equity, which has been announced for public welfare.


Author: Wang Chao

Xiaomi announced today that as of December 31, 2018, director Lei Jun was paid between HK$150,000,001 and HK$15,000,000,000,000, mainly for issuing 636,596,190 shares of Class B common stock to entities controlled by Lei Jun on April 2, 2018 in return for his contribution to the company.

Up to the date of this announcement, the relevant shares still held by entities controlled by Lei Jun have not been sold. Lei Jun promised to donate all the shares to public welfare after deducting any tax payable.

At the beginning of January this year, Lei Jun promised to lock in the companys shares for another year. At the same time, he announced that he would give all the equity incentives he received before going public to charity funds for charitable purposes.

Prior to the launch of millet, in April last year, millet issued about 64 million Class B common shares as equity incentives to Leijun-controlled Smarshif Shifent Mobile Holding Limited. These shares accounted for about 2% of the total equity, which was close to 9.9 billion yuan in terms of valuation at that time.

In 2018, millets annual income was 174.915 billion yuan, turning losses into profits and earnings of 134.78 billion yuan. At present, millet group shares are HK$1,172, with a market value of HK$280 billion. On this basis, Lei Juns share award of 9.8 billion yuan in April last year has shrunk its market value by about 3 billion yuan.

On April 8, Millet Group released its annual report for 2018. According to the annual report, in 2018, the top five salary earners were between HK$150 million and HK$15 billion, while the other four were between HK$30 million and HK$100 million. According to the annual report, as of December 31, 2018, the total remuneration expenditure of millet (including share-based remuneration expenditure) was 17.115 billion yuan, an increase of 322.6% compared with 4.05 billion yuan in 2017. Source: Editor-in-Charge of Wall Street: Wang Fengzhi_NT2541

On April 8, Millet Group released its annual report for 2018.

According to the annual report, in 2018, the top five salary earners were between HK$150 million and HK$15 billion, while the other four were between HK$30 million and HK$100 million. According to the annual report, as of December 31, 2018, the total remuneration expenditure of millet (including share-based remuneration expenditure) was 17.115 billion yuan, an increase of 322.6% compared with 4.05 billion yuan in 2017.