Billionaire Home Appliance Tycoon He Xiangjian 'Safe' After Kidnapping Attempt

He Xiangjian, the Chinese billionaire and founder of one of the world’s largest home appliance makers, was reportedly safe after kidnappers broke into his luxury villa in southern China Sunday (June 14).

The 77-year-old founded the home appliance company Midea. He is reportedly the 6th richest person in China and has an estimated net worth of $25 billion.

Kidnappers invaded his home in Foshang, Guangdong province and held him hostage. According to the Securities Times, the kidnappers were armed with explosives.

His 55-year-old son He Jianfeng reportedly sneaked out of the villa and swam across a river to call the police. As of Monday (June 15), police reported that a victim “surnamed He” was safe.

Police did not confirm that He was the target but Midea’s Weibo social media account posted a statement thanking the police.

Footage of the incident was posted on Chinese social media. It featured He’s European-style mansion with mock Roman columns. People were seen on video holding their hands up as unknown men approached them.

According to state broadcaster CGTN, Chinese police responded to a call Sunday saying that a private home in Junlan International Golf Life Village had been broken into and threats were issued to the people inside.

In a statement, the police said that multiple law enforcement departments quickly organized to resolve the incident.

“After receiving the report, the provincial, municipal and district public security organs became highly concerned about the case and quickly organized police to rush to the scene,” the statement read.

Foshan police also said they arrested five people following the kidnapping attempt and investigations are still ongoing.

He built Midea from scratch in 1968 at the age of 26. The company began producing bottle lids and car parts but has become one of the largest home appliance companies in China.

In 2019, Midea’s total operating revenue exceeded $33 billion. It also owns the German company Kuka, one of the largest robotics companies in the world.