Xiaomi Co-Founder Donates $2.2 Billion of Shares to Charity (1)

Xiaomi Corp. co-founder Lei Jun donated $2.2 billion of shares in the smartphone maker to charity, joining other technology company chieftains in giving to philanthropy amid increased scrutiny on the industry.

Lei on July 13 donated 616 million Class B shares to the Xiaomi Foundation and the Lei Jun Foundation, according to filings to the Hong Kong Stock Exchange. The shares are worth HK$17.4 billion ($2.2 billion), based on Friday’s closing price.

The billionaire entrepreneur, whose net worth is about $25.7 billion, joins the likes of ByteDance Ltd.’s Zhang Yiming and Meituan’s Wang Xing in giving away parts of ...