From the perspective of Xiaomi, it goes without saying that Lei Jun, as the founder of Xiaomi, is the most famous serial entrepreneur in China. Lei Jun has a strong market influence in the Internet field in China. In a sense, Lei Jun is the soul of Xiaomi. Without Lei Jun, there would be no Xiaomi today. In the sense of the company, it is a very reasonable underlying logic for enterprises to give some incentives to such founders. Of course, the problem is definitely not as simple as the underlying logic. We can analyze it in detail:

First of all, equity incentive has become an international practice.

We must be clear that for Lei Jun, the so-called tens of billions of incentives are equity, not cash. Judging from the development of the world's science and technology Internet, most world-renowned technology companies have had equity incentives for their founders. For example, the famous founders of Google Brin and Page, and Zuckerberg, the head of facebook, all had similar experiences. From this experience, the company can motivate the founders through equity, and they can get the greatest incentive with the least impact on the company's financial cash. What's more, Lei Jun didn't cash out by selling this part of the equity, so the equity incentive in this sense has little effect on Xiaomi's share price.

Secondly, this equity incentive has actually been announced long ago.

As we said above, it is very normal to give equity incentives to founders when a company goes public. Most companies have adopted this mechanism. In addition to the internationally renowned Internet giants such as the United States, China's Alibaba Group once gave Ma Yun a 2% equity incentive, and the group even gave Liu Gundam a 4% equity incentive. Of course, since Xiaomi is already a listed company, if this news suddenly appears, it will indeed cause certain fluctuations in the stock price. However, what we see is that Xu Zaibo, general manager of public relations of Xiaomi Group, responded: "This is a 2% equity reward given by the board of directors before listing, which is an industry practice and the proportion in the industry is not high. This part of the equity reward has not been realized. The figures here are only calculated according to the value of the corresponding equity. " Therefore, Xiaomi's so-called10 billion annual salary for Lei Jun will not bring any fluctuation influence to the company's share price.

Third, equity incentive is a kind of interest restraint mechanism for founders.

From the perspective of design equity, under the legal background of joint stock limited company, the relationship between the founders of the company and the company is not infinite, and the founders of most technology companies are serial entrepreneurs. So how to attract the founders of the company to better lead the enterprise to promote the development of the market is undoubtedly a better way. Through the way of equity incentive, the interest binding between the company and the founder can be effectively formed, so that the founder can put more energy into the operation of the company.

If this logic is put on Lei Jun, it will be even more obvious. Lei Jun himself is a leading figure in the Internet field in China. His significance to Xiaomi is far from that of the chairman, and he needs a deeper shareholding relationship.