A multibillionaire online entrepreneur from China named Robin Li Yanhong is a software engineer. He helped found the Baidu search engine. His estimated net worth in March 2022 was US$8.2 Billion.
Li completed computer science coursework at the University of Buffalo and information management coursework at Peking University. He developed the first web search engine incorporating page ranking and site-scoring algorithms, RankDex, in 1996.
Together with Eric Xu, he created Baidu in 2000. Since January 2004, Li has served as the CEO of Baidu. On August 5, 2005, the business went public on NASDAQ. Li was listed by Asian Scientist Magazine as one of the 15 Asian Scientists to Watch on May 15, 2011.
Li was chosen by UN Secretary-General Ban Ki-Moon to serve as co-chair of the Independent Expert Advisory Group on Data Revolution for Sustainable Development in August 2014. Li is an individual who participates in the 12th Chinese People’s Political Consultative Conference.
Robin Li Bio/Wiki
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Both of Robin’s parents, who were factory employees and came from a middle-class family in China, were employed there. They put in a lot of effort to support their family of five children. Robin was raised in a low-income environment, but his mother was a pillar of support for him and gave him the motivation to pursue his education. Li has four sisters and was the family’s sole son.
On a two-hour flight from Beijing, to Yangquan, China, manufacturing workers gave birth to five children, the fourth of them was Robin Li. He was accepted at the famous Peking University after being persuaded by his mother to pursue a decent education.
He earned a bachelor’s degree in information management from Peking University in 1991. Later, he relocated to the United States, where he attended the State University of New York, Buffalo, and completed a PhD program in computer science.
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Li spent three years creating software for Dow Jones & Co. after graduating from college in order to get a work visa for the United States. His link analysis method, which prioritized Internet search results according to the volume of inbound links to websites, was the subject of an application for and was awarded a U.S. patent in 1996.
The PageRank algorithm, created by Stanford graduate students Larry Page and Sergey Brin and later implemented in the Google search engine, was created in the same year. Li tried to sell Dow Jones his search engine but was turned down. “That’s not what we do,” his boss told him.
Li was employed at Infoseek in 1997 as an engineer with a salary of $45,000 annually. Jerry Yang, the co-founder and millionaire of Yahoo, was introduced to Li and his wife Melissa Ma in Silicon Valley through a friend, Eric Xu.
Li and Xu made the decision to create a Chinese search engine after being motivated by Yang’s success. With the help of venture capitalists Bob King, Greg Penner, Scott Walcheck, and Hugo Shong, they distributed their business proposal throughout the Bay Area and obtained $1.2 million as seed funding.
IDG and EPlanet Ventures provided Li and Xu with an extra $10 million in finance after they had returned to Beijing. They created a search indexing program and licensed it to two of the largest websites in China, Sina and Sohu.com, earning money each time a user made a search.
In the early 2000s, Baidu created its own search engine as a result of a disagreement with Sina about licensing payments. In 2004 Baidu started to turn a profit by charging advertisers to be displayed at the top of search results. The $15 million third round of financing for Baidu was funded in part by Google. Then, Xu quit his job to launch his own venture capital company.
In 2005, after becoming the most popular Internet search engine in China, Baidu received buyout approaches from Yahoo, Microsoft, and Google, all for more than $1 billion. Baidu board members decided to sell shares to thwart Li’s departure.
On August 5, 2005, the company held its initial public offering. The shares quickly increased in value, from $27 to $122, on their first day of trading on the Nasdaq, valuing the company at more than $4 billion for a brief period of time and making Li the first person to reach the billionaire status.
As the search industry slows, Li is putting his faith in AI and cars to offer the growth engines that are sorely lacking. Similar to Google Inc., Baidu thinks it has AI advantages that may be applied to the development of driverless technology, such as internet services that customize to each user and computers that behave like people.
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Robin Li Personal Life
To Dongmin Melissa Ma, Robin Li is wed. In 1995, he first encountered her in New York at a party organized for Chinese students who were at the time studying abroad in America. Having just been dating for six months, they were wed on October 10 of that year.
There are currently four kids in the family. It’s claimed that Dongmin inspired Robin to start an online business and earn a living from it, and the rest, as they say, is history. The pair invests a lot of their time in a variety of charity organizations in China and around the world.
Three daughters and a son make up Robin and Dongmin Melissa’s entire family of four kids.
He received the honour of being one of the “Chinese Top Ten Innovative Pioneers” in 2001. He was included in the “IT Ten Famous Persons” list in 2002 and 2003. He was included in the second class of “Chinese Software Ten Outstanding Young Persons” in April 2004.
He received the “ASEAN Youth Award” in its twelfth session in August 2005. He was recognized in December 2005 as one of the “CCTV 2005 Chinese Economic Figures of The Year.” He was recognized by American Business Weekly in December 2006 as the “World’s Best Business Leader” for the year.
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Robin Li Controversy
Police received a missing person complaint for Zhang Zixin, a nine-year-old girl, on July 8. As search teams strained to find any sign of her, millions of people around China kept a careful eye on the situation. The two vanished from the face of the planet on July 7, the day they were meant to return the girl to her home. On July 8, the family notified the police that a member was missing.
In what the authorities determined to be a double suicide, the couple was discovered drowned in a lake close to Ningbo the same day. A lifeless body was discovered in the East China Sea on July 14, but the fate of the girl remained unknown and continued to plague the nation.
A person claiming to be Zhang’s father posted the following on Baidu as they awaited the results of the autopsy, which later confirmed that the deceased girl was Zhang: “I recently discovered that Zixin had passed away and was on her way to heaven. I was not fortunate enough to be her father for much longer in this world. But I do hope that she will still be my daughter in the future life, in which case I will absolutely look out for her better.
The post went viral right away because it confused and infuriated Chinese internet users at the same time. While some questioned the true identity of the account owner, many others quickly came to the opinion that the father was an opportunistic attention-seeker who sought to absolve himself of blame by acting out his grief. One internet user asked, “You just lost your child and in some strange way you believed it was the perfect time to publish such a post?”
However, it turns out that the criticism was unjustified. In an interview with Beijing News, the girl’s father denied creating the post. Immediately after, incensed internet users turned their ire toward Baidu, whom they suspected of creating a fake account that appeared to be controlled by the girl’s father in order to profit from her unfortunate death.
Baidu issued its first statement regarding this matter on July 13 in response to harsh criticism, claiming that the business had created the account with the father’s knowledge and consent. In order to better understand the situation, the corporation added, “We are getting in touch with Zixin’s father.”
On July 13, in the late evening, Baidu felt compelled to make another statement, claiming that an internal investigation had revealed that an editor had taken over the father’s account and posted the contentious content. “What this editor did violate management policies at Baidu News in the most egregious way possible. The editor has been sacked, and Baidu said it will undertake a thorough evaluation of its news staff. “We feel humiliated and sorry for hurting the feelings of Zixi’s family and the people,” Baidu added.
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Robin Li Net Worth
Li’s 20 per cent ownership of Baidu, the largest search engine in China, which is situated in Beijing, is where much of his fortune comes from. According to a corporate filing, its mobile application has 622 million active monthly users as of the end of 2021. In addition to directly owning 16 per cent of the stock, Li also has 4 per cent of the shares through his wife, Melissa Ma, who runs a British Virgin Islands-based holding company called Handsome Rewards.
Due to his status as the company’s founder and controlling CEO, he is given credit for them in the net worth computation. Based on an examination of insider transactions, taxes, and market performance, the value of his cash and other assets is determined.
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Dongmin Melissa Ma
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