Li Yue was born in Beijing China in 1960, and at the age of 55, is now known worldwide as the Executive Director and Chief Executive Officer (CEO) of China Mobile, the largest telecommunications company in China, with a potential client base of almost one billion people.
So just how rich is Li Yue? Chinese government officials salaries are seldom common knowledge, but best estimates by reputable sources put Li’s net worth at around $1 billion, based on not only his current influential position, but also those he has previously held. His estimated official salary package for the last financial year alone is estimated at over $2 million.
Li Yue Net Worth $1 Billion
Li Yue was initially educated at the Correspondence College of Beijing University of Posts and Telecommunications, graduating with a Bachelor Degree in telephone exchange, after which he completed an MBA at Tianjin University, followed by doctoral degree in business administration from Hong Kong Polytechnic University.
Li Yue began his working career in 1976 in a relatively high position, but befitting his qualifications, as Deputy Director General and Chief Engineer of Tianjin Long-Distance Telecommunications Bureau, which was no doubt a significant start to his net worth. During the next 25 years, he progressed steadily up the technical and personnel management ladder, next as Deputy Director General of Tianjin Posts and Telecommunications Administration, followed by being appointed President of Tianjin Mobile Communications Company.
A big step forward for Li was his next position as Deputy Head of the preparatory team and Vice President of China Mobile Communications Corporation (CMCC), initially a Hong Kong-based company, whose elements were separated when taken over by China in 1997. It is controlled by the Chinese government, but is nevertheless listed on the New York Stock Exchange as well as the Hong Kong exchange, and is therefore a public company.
Li Yue then became chairman of Aspire, a manufacturing entity producing a wide range of technical equipment and instruments, followed by an appointment as the non-executive director of Phoenix Satellite Television Holdings Limited, and then taking over as Chairman of Union Mobile Pay Limited. Clearly all these positions gave Li Yue a broad knowledge of the different departments of IT, inevitably controlled by the Chinese government, as well as adding significantly to his net worth.
Li Yue joined the Board of Directors of CMCC/China Mobile in 2003, having no doubt been groomed as a government man, otherwise it is very unlikely that he would be in his current position, regardless of how much independence he might have in running China Mobile and servicing its more than 800 million subscribers, representing 70% of the Chinese market. Other high-flying executives have recently been charged with corruption, which appears to be an attempt by the government to clean-up its house in public, and improve the population’s confidence in higher authorities. It should be noted that Li Yue is also the President and Director of CMCC and CMC.
Little is known about Li Yue’s personal life, a situation not unusual regarding senior Chinese government officials.
