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Xiaomi founder awards bonus to charity

The founder of Xiaomi has been given a bonus worth more than £ 735 million. The payment was established in the firm’s 2018 annual report.

The company had previously said it proposed to make the share-based bonus to Lei Jun in gratitude of his eight years of “dedication” to the company.

Lei in turn has assured to donate the amount to “charitable purposes” once taxes have been abstracted from the reward package.

The amount is not far behind the 8.6 billion yuan (USD 1.3 billion) figure stated as Xiaomi’s adjusted net profit for the year.

The share transfer is in addition to other payments the company made to Lei including a salary and dividends, for which an exact amount was not given.

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