China’s largest smartphone maker Xiaomi has reportedly given their CEO one of the largest executive bonuses in history.
CEO Lei Jun, who helped catapult Xiaomi to become the fourth largest smartphone company in the world, received a $1.5 billion bonus in stock options to “reward him for his contributions,” according to Business Insider via The Wall Street Journal.
What is more interesting is that the bonus was reported as having no strings attached and not being subject to any performance goals in the company’s future. A source close to the matter also revealed that Lei had never received a bonus before.
In July, Xiaomi, a $70 billion company, plans to launch their planned IPO which could value Lei’s bonus at up to $1.79 billion, making it larger than any corporate bonus from tech companies across the globe ever.