Ren Zhengfei Net worth and salary: Ren Zhengfei is a Chinese entrepreneur and engineer with total assets of $ 1.4 billion. He is the founder of the Shenzhen-based company Huawei. The company is the world’s largest manufacturer of telecommunications devices and the second-largest manufacturer of smartphones.
Zhengfei was born on October 25, 1944 in Guizhou Province of the People’s Republic of China. His grandfather was a master chef from the village of Rendian, and his father was the president of a middle school, while Ren’s mother was a senior middle school teacher. He has five younger sisters and an elder brother. Zhengfei spent his primary and middle school years in a secluded, mountain town in Guizhou Province. In 1963, he enrolled in the Chongqing Institute of Civil Engineering and Architecture.
After graduating from university, Ren joined the People’s Liberation Army Research Institute, where he worked as a military technologist in a research unit in Mianyang, Sichuan. He was employed in the civil engineering industry until 1974, when he was hired in the Military Engineering Corps, tasked with setting up the Lia Yang Chemical Fiber Factory.
Zhengfei accepted positions as a technician and engineer and was promoted to deputy director. But she was not given military status within the Communist Party of China due to her parents’ social background and Kuomintang’s relationship. During his nine-year career in the military, Ren was responsible for many technology achievements, which were recognized at various levels. In 1983, Zhengfei retired from the military due to considerable staff shortage, affecting 500,000 active-duty personnel. He then moved to Shenzhen, where he started working in the electronic business.
Ren founded Huawei Technologies Co. Ltd. in 1987 with 21,000 yuan, equivalent to US $ 5,000 at the time. Previously, Huawei was a contractor that sold, installed and maintained server switches for a Hong Kong dealer. In 1992, Zhengfei pushed for Huawei to develop the C&C 8 server switch, which at the time, was sold at 1/3 of the price. This was the company’s first successful promotion.
Due to Ren’s background, the Chinese government rewarded Huawei with a contract to build a data center and 4G network. During the 1990s, Huawei was also active in the manufacture of telecommunications for African countries.
As of 2020, Zhengfei serves as the vice-chairman of the board of directors for Huawei, but he is not among the three rotating CEOs. In 2017, the company earned US $ 92.5 billion. Ren owns 1.42% of Huawei’s shares, which were valued at $ 450 million in 2010.
In 2005, Time magazine included Zhengfei in its list of the 100 most influential people of the year. Ren is a supporter of Apple and says he has “a good ecosystem and I buy him iPhones even when my family is overseas, so one can’t think that love for Huawei meant Huawei phones. Gotta love. ”
Ren has been married three times. His first wife was Meng Joon. They had two children together, a daughter Meng Wenzhou and a son named Ren Ping. After the divorce, Zhengfei married Yao Ling, with whom he had a daughter, Annabel Yao. In 2018, Annabel enrolled at Harvard University as a computer science student. She is also a ballet dancer and made her high-profile debut in 2018 at Le Bal des Debutantes in Paris. Ren then married his third wife, Su Wei, who was reportedly his former secretary.
Zhengfei’s eldest daughter, Meng Wenzhou, is the vice-chairperson and chief financial officer of Huawei, convicted in February of 2020 by the US Department of Justice on trade secret theft charges that carry a maximum sentence of ten years of imprisonment. .