A 77-year-old Chinese billionaire and the founder of house appliance manufacturing giant Midea Group, He Xiangjian, was rescued by Chinese police after his house was broken into by kidnappers armed with explosives on Sunday night. Police in the southern Chinese city of Foshan said in a statement that they had received a report on Sunday evening that a private home had been broken into and that its residents' lives were under threat.
The police were informed of the break in after Xiangjian's only son, 55-year-old He Jianfeng, reportedly sneaked out of the villa and swam across a river next to it to call the police. "In photos and videos circulating on China’s social media, a dozen police officers were seen surrounding a European-style, two-storey mansion decorated by white marble Roman columns at its front door and topped by a coral-bricked roof. A small river about five metres wide flows nearby the mansion," reported South China Morning Post.
They eventually rescued Xiangjian and arrested five suspects at around 5 am local time on Monday morning, a police statement said, adding no one was injured.
Xiangjian founded Midea in 1992 and the empire currently has a market value of $59 billion. He stepped down as its chairman in 2012, but he continues to be the company's controlling shareholder. The 2020 Hurun Global Rich List ranked him as the world's 41st richest person with an estimated wealth of $25.70 billion. He is ranked the sixth richest person in China by Forbes.
Midea Group has presence in India and in 2018 had laid the foundation stone for Technology Park in Maharashtra, amounting to an investment worth Rs 1,350 crore. It had also announced introducing Toshiba brand home appliances in Indian market back then. The company owns around 80 per cent stake in Toshiba Lifestyle Products and Services Corporation (TLSC).