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COVID-19 has dealt the deepest blow to the tourism and aviation industry. However, there are still industries that can survive and even thrive, such as e-commerce and healthcare.
It is no wonder that entrepreneurs in that sector are enjoying a booming business since the COVID-19 outbreak emerged. One of them is Li Xiting. He is the co-founder and CEO of Shenzhen Mindray Bio-Medical Electronics.
On April 3, the Bloomberg Billionaires Index reported that the 69-year-old's net worth had increased by US $ 3.5 billion. Or his wealth increases by US $ 1 billion per month or around Rp. 14.7 trillion.
The increase in the amount of wealth even exceeds the addition of the wealth of Amazon founder Jeff Bezos, whose wealth increased by US $ 3.4 billion.
Xiting is also listed as the 80th richest person in the world, with a total net worth of US $ 17.5 billion. This also makes him Singapore's richest person, with Nippon Paint founder Goh Cheng Liang second with a net worth of US $ 15.3 billion.
Xiting has a bachelor's degree in physics from the University of Science and Technology of China. He has also worked as a researcher at various institutes in China and France.
After spending four years working for a medical equipment company in Shenzhen, he founded Mindray medical technology company in 1991, together with founders Xu Hang and Cheng Minghe.
Xiting's fortune has grown as demand for medical equipment, especially ventilators, exploded as countries around the world grapple with the coronavirus. Due to the pandemic, ventilators have become a rare commodity globally, and many countries are scrambling to get their hands on the devices.
In addition, unlike other medical equipment such as masks that can be mass-made in factories, producing ventilators is very technical. This tool helps patients breathe, and is very important in treating COVID-19 patients whose lungs are damaged.
Shenzhen Mindray Bio-Medical Electronics is a global provider of medical devices and solutions, including ventilators. According to the company's website, its products and services can be found in health care facilities in more than 190 countries and territories.
Other products he sells include health monitoring systems, defibrillators, anesthesia machines, and infusion systems.