The company clarified that this is thanks for the “dedication.”
Xiaomi paid its CEO Lei Jun a one-time “reward” of over $ 962 million. It is reportedby the BBC.
Xiaomi transferred 636.6 million shares to Jun. Payment was confirmed in the company’s annual report for 2018. The company noted that in this way they thank their CEO, and one of the founders of the company, for their “dedication”.
Lei promised to donate the amount to “charitable purposes” as soon as taxes are deducted from the compensation package.
At the end of 2018, Xiaomi’s net profit amounted to 1.3 billion dollars. According toIDC, after 2018, Xiaomi became the fourth largest smartphone maker in the world, after Samsung, Apple and Huawei.