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Past winners include Steve Jobs, Ted Turner, Doug Ivester, and Martha Stewart. Lenovo acquired IBM's personal computer business in 2005 and agreed to acquire its Intel-based server business in 2014. Download The Economic Times News App to get Daily Market Updates & Live Business News. Mr. Yang assumed the duties of chief executive officer of the Company on February 5, 2009. Yang's father, Yang Furong, was a disciplined man with strict standards. The company has dual headquarters in Beijing and Morrisville, the former home of IBM's personal computer Business. Yang Yuanqing is the chairman and CEO of Lenovo Group of Beijing, the world's largest maker of personal computers. Yang Yuanqing's $3.25 million bonus will be split among Lenovo's 10,000 hourly manufacturing workers, mainly in China. According to Hurun Report's 2013 China Rich List, he had an estimated fortune of around US$620 million and is the 533rd richest person in China. Mr. Yang Yuanqing, 55, is the Chairman of the Board, Chief Executive Officer and an executive director of the Company. Yuanqing Yang Net Worth Yuanqing Yang biography. These qualities caught the attention of Liu Chuanzhi, who later promoted Yang to head Lenovo's personal computer Business at just 29 years old. Each employee will receive a bonus of roughly $300. Wang Jianyi Net Worth Technology. He decided to give that raise to his employees instead of himself, and divided it among 10,000 [...]. According to Hurun Report 's 2013 China Rich List, he had an estimated fortune of around US$620 million and is the 533rd richest person in China. Yang serves on the National Committee of the Chinese People's Political Consultative Conference, China's top governmental advisory body that includes more than 2,000 of China's elites from all sectors of society. In June 2006, Yang arranged to be seated next to C. Richard D'Amato, a member of the congressional committee that had earlier raised concerns about the security of Lenovo's products. Yang said that legal loopholes and widespread corruption create major challenges to securing personal data. These versions were predominantly being installed on the hard drives of computers with no bundled operating system. Liu also said, "I had been observing Yang a long time before I appointed him to take over the PC Business. Lin Bin Net Worth Technology. Yang's Father, Yang Furong, was a disciplined man with strict standards. © 2021 Forbes Media LLC. Problems at Legend due to lower import duties on personal computers did not allow for this though. Are you also wondering how much money is David Bach making on Youtube, Twitter, Facebook and Instagram? In exchange, Microsoft China offered a rebate on Windows and marketing assistance. Liu described Yang as "A man who moves forward, takes risks and aims to innovate." D'Amato later stated that he was impressed with Yang's candor. Lenovo's CEO Yuanqing Yang believes sunnier days are ahead. Lenovo’s Yang donates $3 mln to employees. When we enter a market, we want to quickly get double-digit market share.”. Or, David Bach's net worth in US Dollar Jan, 2021? Yang has created a "performance culture" instead of the traditional Chinese work style of "waiting to see what the Emperor wants." Check Reputation Score for Yuanqing Yang in Raleigh, NC - View Criminal & Court Records | Photos | Address, Emails & Phone Number | Personal Review | $80 - $89,999 Income & Net Worth While Lenovo had been using direct sales and a network of distributors, Yang gave up on direct sales in favor of exclusively using independent agents to avoid the costs of administering a complex sales network. The estimated Net Worth of Enrique Lores is at least $40 Million dollars as of 7 December 2020. Yang stayed on after repeated requests from Liu Chuanzhi. Yang worried that fears about Lenovo's supposed connections to the Chinese government would be an ongoing issue in the United States. Generally speaking, the bigger the hexagon is, the more valuable Yang Yuanqing networth should be on the internet! Yang Yuanqing (simplified Chinese: 杨元庆; traditional Chinese: 楊元慶; pinyin: Yáng Yuánqìng, born 12 November 1964) is a Chinese businessman who is the current chairman and CEO of Lenovo. One of his major achievements was leading Lenovo to become the best-selling personal computer brand in China since 1997. In 2011, Finance Asia named Yang the "Best CEO in China. Lenovo defies market doldrums with 64pc rise in quarterly net profit. 250 Estimated Wealth: $800 million Age: 48 Source of Wealth: Manufacturing Main Business: Lenovo Group Yang debuts on the Forbes China Rich List following an all-round successful year personally and for Lenovo, the computer maker he chairs. Yang's parents endured repeated persecution during the Cultural Revolution. The first recipients were Jonathan Berg, an associate professor of genetics and medicine; Maureen Su, an associate professor of pediatrics, microbiology and immunology; and Yisong Wan, an associate professor of microbiology and immunology. He spent his childhood in Hefei in Anhui province. Yang decided on Lenovo implementing specific job descriptions with clear responsibilities and a system of performance evaluations used to determine annual bonuses. Shares in NIO have plummeted, down more than 74% for the year, as the company grapples with cost overruns and weak demand for its … Acer may be critical of Windows 8, but Lenovo chairman and CEO Yang Yuanqing says the company is experiencing "hyper growth" in their smartphone and tablet business. Seeking to increase Lenovo's size, he has led the company to buy Google's Motorola handset unit for $2.9 billion and IBM's low-end server business for $2.1 billion. In 1989, Yang joined Legend, as Lenovo was then known, at the age of 25. Yang earned an undergraduate degree in computer science from Shanghai Jiaotong University in 1986 and graduated with a master's degree from the University of Science and Technology of China in 1988. Yang said of his Father, "If he set a target, no matter what happened, he wanted to reach it.". As you can now see, our dream is being realized step-by-step.". Yang was born on 12 November 1964 to parents both educated as Surgeons. As of 2013, Lenovo's top 14 executives come from seven countries. Yang's donation funds grants of $75,000 per scholar. The Chinese multinational technology company reported a 53% increase in its net profit for the third quarter that ended in September to $310 Million. In February 2009, Yang gave up his position as chairman and again became CEO at Lenovo. Its net profit rose 13% in the third quarter on revenues of $8.6 billion. Yang's parents endured repeated persecution during the Cultural Revolution. Europe Is A Tool In China’s Bid For Global Supremacy, New Book Says, Female Entrepreneur's Ascent To Lenovo Board Highlights Gender Gap In China Tech, Lenovo's Moto Bets On 'Modular' Smartphone System. Mr. Yang Yuanqing is the chairman and chief executive officer of Lenovo. Yang Yuanqing (simplified Chinese: 杨元庆; traditional Chinese: 楊元慶; pinyin: Yáng Yuánqìng, born 12 November 1964) is a Chinese businessman who is the current chairman and CEO of Lenovo. For the quarter ending June 30, Lenovo’s profits rose by 18% from [...], Lenovo CEO Yang Yuanqing has every reason to smile (Image credit: AFP/Getty Images via @daylife) Lenovo, the world's largest PC maker, has topped market expectations with a 23% jump in net profit to $174 million in the quarter ending Jun 30 on revenues of $8.8 billion. FREE Background Report. Yang Yuanqing, Lenovo's Chairman and CEO, ... since his last annual bonus was reportedly worth US$5.2 million, and his net personal income for the year totaled US$14 million. Yang received the same award in 2004. He spent his childhood in Hefei in Anhui province. In 2015, Yang was listed on Forbes billionaire list. David Bach salary income and net worth data provided by People Ai provides an estimation for any internet celebrity's real salary income and net worth like David Bach based on real numbers. To gain confidence among distributors, Lenovo provided a wide range of products, offered reasonable prices, and closely supervised the marketing of its products to look out for the interests of distributors. A laptop is an absolute necessity in this age, and what is the best laptop brand in 2020 is the most asked question. With IBM deal, Yang Yuanqing sees a better match than HP-Compaq, and more industry consolidation in the future. Yang Yuanqing Net Worth Yang Yuanqing was born on November 12, 1964 in China. Prabhas Ghosh 2490 days ago. ", In December 2012, Yang was named one of the "2012 CCTV China Economic Figures" in a televised award ceremony. One American Lenovo executive interviewed by The Economist praised Yang for his efforts to make Lenovo a friendly place for foreigners to work. All Rights Reserved. Yang Yuanqing was born on November 12, 1964 in China. Lenovo's CEO Dixon Jose gave up his job to Yang. In 2001, Business Week named him one of Asia's rising stars in business. Yang was named "2007 Chinese Business Leader" by Fortune China. When Yang took over Lenovo's personal computer division, he strongly discouraged the use of formal titles and required staff to address each other by their given names. China's Yang Yuanqing and American William Amelio pursue a different PC strategy for Lenovo, challenging mindsets and market dips along the way. Each employee will receive a bonus of roughly $300. He insisted on a more formal dress code and training all employees in telephone etiquette; Yang wanted his people to think and act like high-tech workers in developed markets. Yuanqing Yang serves as Independent Director of the Company. Shares rose 2.6% to HK$7.76 [...], Lenovo CEO Yang Yuanqing is in pole position in global PC shipments (Image credit: AFP/Getty Images via @daylife) China's Lenovo passed Hewlett-Packard in the second quarter of 2013 as the world's number-one PC supplier. Net Worth: $22.54 Billion Launched: November 1984 Founder: Liu Chuanzhi Present CEO: Yang Yuanqing Headquarter: Beijing, China Production per Year: 40 million phones Sales per Year: 35 million units Revenue per Year: $14 billion USD First Model: Lenovo S8 Popular Models: Lenovo Z6 Pro 5G, Lenovo Z5 Pro GT, Lenovo Z5 Pro, Lenovo K10 Plus, K10 Note, A6 Note "Now is a very tough period" for smartphone makers in China, CEO Yang Yuanqing said in an interview. 2015 Billionaires NET WORTH $1.25B as of 3/2/15 Yang Yuanqing is the chairman and CEO of Lenovo Group of Beijing, the world's largest maker of personal computers. In contrast to Lenovo, foreign firms often tried to squeeze distributors' margins. In 2001, Business Week named him one of Asia's rising stars in business. In the meantime, the enterprising spirit encouraged by Liu Chuanzhi in Lenovo by culture building has supported Lenovo to cultivate so many talents including the managerial talents such as Yang Yuanqing, and some ordinary but hard working employees, who devoted a lot the reputation and market performance of Lenovo today (Liu 2007). In 2014, he pushed for legislation to protect privacy and personal data on the web and electronic devices. Disclamer: Yang Yuanqing net worth are calculated by comparing Yang Yuanqing's influence on Google, Wikipedia, Youtube, Twitter, Instagram and Facebook with anybody else in the world. Other manufacturers adopted this approach afterwards, partly due to Yang's substantial influence in China's Technology industry. Lenovo Swallows Motorola, Indigestion Coming? He had clear goals, was broad-minded and straightforward. Lenovo is my life's struggle and career, I have invested all of my energy into it. In 2008, Forbes Asia named Yang "Businessman of the Year." Yang ensured proper training of distributors and brought in Microsoft and Intel to help with these efforts. Yang also set up a system to monitor the sales, inventory, cash flow, compliance, and pricing of distributors. Though former China Communist Party leader Mao Zedong famously said, "Women hold up half of the sky," gender imbalances persist in board memberships. University of Science and Technology of China alumni, Shanghai Jiao Tong University Crispin Glover Net Worth Film & Theater Personalities. Yang Yuanqing was born on November 12, 1964 in China. Many analysts cite Lenovo's distribution system and after sales Service as the key to its expansion. Another reason for Yang to smile (Image credit: AFP/Getty Images via @daylife) Lenovo stock closed up 2.1% Wednesday in Hong Kong and have been trading at a five-year peak. Mr. Lores owns over 144,473 units of HP Inc stock worth over $14,844,590 and over the last 5 years he sold HPQ stock worth over $18,158,636. Yang Yuanqing is the chairman and CEO of Lenovo Group of Beijing, the world's largest maker of personal computers. Yang also stood out at Lenovo for being a quiet, deep thinker. Following a 36% run-up in the stock price in 2012, the company's market cap is $10.4 billion . He grew up poor, as his parents were paid the same salaries as manual laborers. That's a milestone that the company is keen to trumpet, and investors seem to agree: shares in [...]. He grew up poor, as his parents were paid the same salaries as manual laborers. Forthcoming trade deal preserves China’s favorable market access to EU, complicating relationship with US. While his parents wanted him to pursue a career in Medicine, and he had a budding interest in literature, Yang decided to study computer science on the advice of a family friend who was a university professor. In addition, he makes $6,996,990 as President, Chief Executive Officer, and Director at HP Inc. 17 Comments on this Story. Yang Yuanqing Born : 12th-Nov-1964 Zodiac Sign : Scorpio Birth Place : Hefei Anhui Education : Shanghai Jiao Tong University, University of science and technology China Occupation : CEO Industry : Manufacturing Networth : $1.2 Billion Seeking to increase Lenovo's size, he has led the company to buy Google's Motorola handset unit for $2.9 billion and IBM's low-end server business for $2.1 billion. Yang worked to ease worries by communicating directly with Congress. The estimated Net Worth of Dion J Weisler is at least $258 Million dollars as of 7 December 2019. Yang Yuanqing (Chairman and CEO): Website: www.lenovo.com : Lenovo is a Chinese computer company that makes computers, laptops, tablets, and other devices.. Lenovo was founded in Beijing in 1984 as Legend and was incorporated in Hong Kong in 1988. Regardless of your views on executive pay, the way Lenovo CEO Yang Yuanqing has chosen to dispense with $3 million of his bonus is quite admirable. ... Market shares worth 25.7% consisted of Lenovo’s personal computers. After submitting his bid, Yang discovered that he had quoted twice the price of his competitors. We trusted him.". Lenovo's Yang Yuanqing is leading an attack on the consumer market with a smart phone slated to launch in China. While Lenovo's official language is English, Yang initially did not understand the language well; he relocated his family to Morrisville to improve his language skills and soak up American culture. Yang holds an annual banquet at his home in Beijing for Lenovo's top executives. Yang was awarded the May Fourth Youth Medal, by the All-China Youth Federation in 1999. Yang Yuanqing (simplified Chinese: 杨元庆; traditional Chinese: 楊元慶; pinyin: Yáng Yuánqìng, born 12 November 1964) is a Chinese businessman who is the current chairman and CEO of Lenovo. At the time, most Chinese enterprises distributed bonuses of equal size to all employees, there was little sense of responsibility, and workers passively waited for superiors to issue instructions. List Net Worth of 1964 births, Net Worth 2019 of 1964 births, including Alexander Ponomarenko, Arkady Volozh, Charles Dunstone, David Kabiller, ... Yang Yuanqing Net Worth Technology. Steve Ballmer said, "Yuanqing made a huge difference. The CEO Roundtable on Cancer is known for its CEO Cancer Gold Standard, a workplace wellness program that focuses [...], I commented last week that Lenovo (HKEx: 992) Chairman Yang Yuanqing didn’t seem extremely enthusiastic about his landmark deal to buy IBM’s (NYSE: IBM) low-end server business, and now perhaps we know why. Yang Yuanqing was selected to accompany Chinese president Xi Jinping on a state visit to the United States in September 2015. In 2004, he was listed among "Asia's 25 Most Influential Business Leaders" by Fortune Asia. Qi Xiangdong Net Worth Technology. In addition, he makes $321,770 as Independent Director at Thermo Fisher Scientific. Yang's first major task at Lenovo was to write a bid to become an IBM reseller. Yang believed that he would benefit from exposure to American Business practices but Liu persuaded him to delay his plans for two years. During the ceremony Yang said, "I have a dream that Lenovo will become the pride of China in the IT industry. He was willing to go out on a limb.". After addressing human resources issues, Yang moved on to distribution. Seeking to increase Lenovo's size, he has led the company to buy Google's Motorola handset unit for $2.9 billion and IBM's low-end server business for $2.1 billion. Yang Yuanqing was chairman of Lenovo's board from 2004 to 2008. All Rights Reserved. But for the CEO of Lenovo, Yang Yuanqing, that wasn’t a difficult task. © 2021 Forbes Media LLC. Due to China's large territory, large population, varying degrees of economic development, and widely different local regulations, Lenovo was having difficulty operating nationwide. Yang, a 43-year old entrepreneur and venture capitalist, is admittedly a long-shot candidate for President. Yang has said that when Lenovo enters a new market they intend to be number one. Last updated: 1 October 2020 at 11:00am EST. In December 2012, Yang was named one of the "2012 CCTV China Economic Figures" in a televised award ceremony. On 1 May 2014, Yang received the 2014 Edison Achievement Award in San Francisco at the annual Edison Awards Gala. Chinese technology company Lenovo Group, led by Yang Yuanqing, has bought the low-end server unit of American technology and consulting corporation the International Business Machines Corporation, led by Virginia Rometty, for US$2.3 billion, according to DealBook.. Lenovo will pay US$2.07 billion in cash and the rest with the shares of the company. Yang Yuanqing is the chairman and CEO of Lenovo Group of Beijing, the world's largest maker of personal computers. The two companies had failed to reach a … The issue soon faded away. He is also a director and a shareholder of Sureinvest Holdings Limited which holds interests in the issued shares of the Company. Yang received the same award in 2004. Microsoft tripled its sales of preloaded versions of Windows within a year as a result. Yang Yuanqing is the chairman and chief executive officer of Lenovo. It’s refreshing to see Lenovo’s (HKEx: 992) chatty CEO Yang Yuanqing finally doing something besides boasting about his big plans for the company, with word that he is donating a big chunk of his annual bonus to ordinary employees. Yang made his proposal at the advisory body's annual meeting. Traditionally, each guest at the banquet stands up and uses a toast to set goals for their Business unit. Yang said of his father, "If he set a target, no matter what happened, he wanted to reach it." In 1999 and 2001, the magazine BusinessWeek named him one of the "Stars of Asia." Yuanqing Yang Net Worth Yang Yuanqing, the CEO of China computer vendor Lenovo, will join the CEO Roundtable on Cancer, an international non-profit group focused on preventing cancer and advancing research that promotes improved patient outcomes. Yang Yuanqing's $3.25 million bonus will be split among Lenovo's 10,000 hourly manufacturing workers, mainly in China. University of Science and Technology of China. Yang Yuanqing has helped raise Legend Computer Systems Ltd’s PC market share in China to more than 30 percent in 2000, making the company the … I firmly believe that Lenovo, a product of China, will stand atop the world's stage. 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