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Zhang Ruimin

Zhang Ruimin

Born 1949 · Age 76

Founder of Haier Group; transformed a failing state refrigerator factory into a global appliance and IoT platform company. Known for management innovations including the Rendanheyi model and extreme quality-driven culture.

Total Events
44
Career Span
75 years
Peak Net Worth
$1,200,000,000

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Life & Career Timeline

1949Age 0

Born in Laizhou, Shandong, China

Zhang Ruimin was born to a working-class family; parents worked in a local garment factory.

1/5/1949Source
Confidence
100%
1966Age 17

Joined Red Guards during Cultural Revolution (youth political activity)

As a youth Zhang joined the Red Guards and attended rallies; after the movement disbanded he avoided being sent down to the countryside.

1/1/1966Source
Confidence
75%
1968Age 19

Apprenticeship at Qingdao metal-processing factory

Took a job as an apprentice at a Qingdao metal-processing factory; rose within the firm over subsequent years.

1/1/1968Source
Confidence
60%
1976Age 27

Joined the Chinese Communist Party

Zhang officially joined the CCP in 1976.

1/1/1976Source
Confidence
95%
1982Age 33

Became manager of local appliance company (city-level post)

Appointed as a manager of a local appliance company in Qingdao before taking over the refrigerator plant.

1/1/1982Net Worth: $5,000Source
Confidence
70%
1984Age 35

Traveled to Germany to study partner technology

Early in his tenure Zhang visited the company's German partner, learning quality/technology gaps.

1/1/1984Net Worth: $10,000Source
Confidence
70%
1984Age 35

Appointed director of Qingdao Refrigerator Factory

Became general manager/director of the insolvent Qingdao Refrigerator Factory, the predecessor of Haier Group.

12/1/1984Net Worth: $10,000Source
Confidence
95%
1985Age 36

Destroyed 76 defective refrigerators to teach quality

Zhang famously had workers smash 76 defective fridges to dramatize quality problems and begin cultural change.

1/1/1985Net Worth: $15,000Source
Confidence
98%
1985Age 36

Redesigned washing machines for rural use

After discovering villagers used washers to clean vegetables, Zhang directed engineers to redesign machines to wash produce without clogging.

1/1/1985Net Worth: $15,000Source
Confidence
85%
1988Age 39

Haier won first national gold medal for refrigerator quality

Under Zhang's leadership Haier won the first national gold medal for quality in China's refrigerator industry.

1/1/1988Net Worth: $50,000Source
Confidence
95%
1991Age 42

Haier began diversification and M&A campaign

From 1991 Zhang pursued mergers/acquisitions and industrial park developments across washers, TVs, and air conditioners.

1/1/1991Net Worth: $250,000Source
Confidence
90%
1991Age 42

Established Haier Group; became president

Zhang founded Haier Group (formal establishment) and took the role of president, starting diversification and expansion.

12/1/1991Net Worth: $200,000Source
Confidence
95%
1993Age 44

Haier began exporting to Middle East & Africa

Haier started shipping products to the Middle East and Africa, marking early international expansion.

1/1/1993Net Worth: $350,000Source
Confidence
90%
1995Age 46

Earned MBA (University of Science and Technology of China)

Wharton biography indicates Zhang earned an MBA in 1995 from USTC (master's in business administration).

1/1/1995Net Worth: $2,500,000Source
Confidence
70%
1995Age 46

Qingdao transferred Red Star Electric Appliances shares to Haier

In July 1995 the Qingdao municipal government transferred all of Red Star's shares to Haier; Red Star had been loss-making.

7/1/1995Net Worth: $2,000,000Source
Confidence
85%
1996Age 47

Award: Five-Star Diamond Lifetime Achievement (American Academy of Hospitality Science)

Recognized by the American Academy of Hospitality Science with a lifetime achievement award.

1/1/1996Net Worth: $3,000,000Source
Confidence
80%
1997Age 48

Award: Entrepreneur of the Year (Asia Weekly)

Named Entrepreneur of the Year by Asia Weekly.

1/1/1997Net Worth: $5,000,000Source
Confidence
75%
1998Age 49

First Chinese business leader to speak at Harvard

Zhang spoke at Harvard University in 1998, becoming the first Chinese business leader on the Harvard podium.

1/1/1998Net Worth: $8,000,000Source
Confidence
98%
1998Age 49

Entered U.S. market with niche products

Haier began selling in the U.S. (minifridges, wine coolers) as an entry strategy into America.

1/1/1998Net Worth: $12,000,000Source
Confidence
90%
1999Age 50

Became chairman of the board of Haier Group

Zhang was named chairman of Haier's board in 1999 as the company continued globalization.

1/1/1999Net Worth: $20,000,000Source
Confidence
95%
1999Age 50

Invested US$30M to build Haier Industrial Park in South Carolina

Zhang invested US$30 million in 1999 to build an industrial park in South Carolina to produce locally for the U.S.

1/1/1999Net Worth: $25,000,000Source
Confidence
90%
2000Age 51

Haier claimed up to 60% of electric wine cooler market

By around 2000 Haier claimed a dominant share of the niche electric wine cooler market in the U.S./globally.

1/1/2000Net Worth: $40,000,000Source
Confidence
70%
2000Age 51

Attended 30th World Economic Forum; spoke at IMD Lausanne

Zhang attended WEF in January/May 2000 and was invited to speak at IMD in Lausanne, Switzerland.

5/1/2000Net Worth: $30,000,000Source
Confidence
90%
2001Age 52

Award: CCTV China Economic Personality of the Year

Zhang was named CCTV China Economic Personality of the Year in 2001.

1/1/2001Net Worth: $45,000,000Source
Confidence
90%
2002Age 53

C.E.O. film based on Zhang's story premiered

The film 'C.E.O.' (co-produced by China Film Group and Shandong Film Studio) premiered in 2002 based on Zhang's life.

1/1/2002Net Worth: $50,000,000Source
Confidence
95%
2002Age 53

Member of the 16th Central Committee of the Chinese Communist Party

Zhang became a member of the CCP's 16th Central Committee in 2002.

1/1/2002Net Worth: $50,000,000Source
Confidence
95%
2005Age 56

Haier revenues surpassed US$12 billion; 30,000+ employees

By 2005 Haier reported revenues over $12B and employed over 30,000; Zhang was named by Financial Times among '50 most respected business leaders'.

1/1/2005Net Worth: $200,000,000Source
Confidence
85%
2007Age 58

Haier announced expansion at Camden, South Carolina facility

Haier publicly announced a new expansion at its Camden (SC) facility in March 2007 to grow U.S. manufacturing capacity.

3/8/2007Net Worth: $250,000,000Source
Confidence
85%
2009Age 60

Listed on Forbes China Philanthropy List; BusinessWeek recognition

Zhang and Haier began receiving broader recognition on philanthropic and influence lists around 2009.

1/1/2009Net Worth: $300,000,000Source
Confidence
75%
2009Age 60

Began large-scale experiment: self-managed micro teams (start)

Zhang began introducing the self-managed team model (micro-companies) around 2009 as part of organizational reform.

1/1/2009Net Worth: $320,000,000Source
Confidence
85%
2011Age 62

Acquired Sanyo's white goods businesses in Japan & SE Asia

On 18 October 2011 Haier acquired the white-goods businesses of Sanyo Electric in Japan and Southeast Asia.

10/18/2011Net Worth: $450,000,000Source
Confidence
90%
2012Age 63

End of 2012: eradication of most middle management to enable teams

By the end of 2012 Zhang removed most middle management to accelerate self-managed teams (transition to user-centric platform).

1/1/2012Net Worth: $530,000,000Source
Confidence
80%
2012Age 63

Completed acquisition of Fisher & Paykel (New Zealand)

Haier finalized the Fisher & Paykel acquisition in December 2012; its NZ R&D centers became part of Haier's global R&D network.

12/1/2012Net Worth: $500,000,000Source
Confidence
90%
2012Age 63

Announced Haier entered new 'networking' strategy stage

On Haier's 28th anniversary (26 Dec 2012) Zhang declared Haier's new strategy focused on networking and platformization.

12/26/2012Net Worth: $520,000,000Source
Confidence
95%
2013Age 64

Keynote: Academy of Management (recognized as 'philosopher-CEO')

Zhang gave the keynote at the Academy of Management annual meeting in 2013, recognized for management philosophy and Haier's platform shift.

1/1/2013Net Worth: $600,000,000Source
Confidence
90%
2013Age 64

Haier 2013 milestone: 55M units sold; US$29.5B revenue; ~70,000 employees

Haier reported selling ~55 million major appliances in 2013, sales grew 14% to $29.5B, with ~70,000 employees and 24 plants worldwide.

1/1/2013Net Worth: $800,000,000Source
Confidence
85%
2014Age 65

Introduced IoT-connected product 'Air Box' and platform collaborations

Haier launched Air Box (smart climate device) integrating user input and working with Samsung and Apple; pivot to IoT products emphasized.

1/1/2014Net Worth: $850,000,000Source
Confidence
85%
2015Age 66

Thinkers50: Ideas into Practice Award (2015)

Zhang was included in Thinkers50 rankings and received the 2015 Ideas into Practice Award.

1/1/2015Net Worth: $900,000,000Source
Confidence
90%
2017Age 68

Invested in Pune industrial park, India (construction start)

In November 2017 Haier invested in and began construction of an industrial park in Pune with five connected plants; full output projected 3.8M units/year.

11/1/2017Net Worth: $950,000,000Source
Confidence
90%
2019Age 70

Award: Forbes China Lifetime Achievement Award

In October 2019 Zhang received the Forbes China Lifetime Achievement Award.

1/1/2019Net Worth: $1,020,000,000Source
Confidence
90%
2019Age 70

Haier Biomedical listed on Shanghai Star Board (688139)

Qingdao Haier Biomedical listed 25 Oct 2019: 79,267,900 shares issued at RMB 15.53/share on the SSE Star Board (Haier's IoT-era spin-off IPO).

10/25/2019Net Worth: $1,000,000,000Source
Confidence
90%
2021Age 72

Resigned as Haier Chairman and CEO; succeeded by Liang Haishan

Zhang stepped down from chairman and CEO roles in 2021; Liang Haishan succeeded him.

1/1/2021Net Worth: $1,200,000,000Source
Confidence
90%
2022Age 73

Legacy: Rendanheyi model widely cited (platform management model)

Zhang's Rendanheyi (user-employee-customer centric) and platformized management model gained prominence as Haier transitioned to IoT and open ecosystems.

1/1/2022Net Worth: $1,200,000,000Source
Confidence
80%
2024Age 75

Public record: recognized as Haier founder and veteran CEO

Profiles and corporate pages continue to document Zhang's role in transforming Haier into an IoT ecosystem brand; he remains a prominent business thinker.

1/1/2024Net Worth: $1,200,000,000Source
Confidence
70%

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