AsianFin — Xiaomi's stock price surged over 4% during today's trading session, marking a historic high for the company. This strong performance has significantly boosted the wealth of its founder, Lei Jun, propelling him past Zhong Shanshan, the founder of Nongfu Spring, to become China's new richest person.

Lei Jun's rise to the top of China's wealth rankings underscores the growing influence of the tech sector in the country's economy. Xiaomi, known for its smartphones and smart devices, has seen robust growth in recent years, driven by its expanding global presence and innovative product lineup.