F ang Hongbo is a Chinese business executive and the chairman and president of Midea Group, one of the world's largest manufacturers of home appliances. He is a rare example of a non-founder and non-family member who has risen to the top of a massive Chinese family-controlled enterprise and become a billionaire in his own right. He joined Midea in 1992 and has spent his entire career with the company.

He Xiangjian, the company's founder, chose Fang as his successor, and Fang took over as chairman in 2012. Under his leadership, Midea has continued its aggressive global expansion, most notably with the 2016 acquisition of the German industrial robotics giant, KUKA. This move was a key part of Midea's transformation from a traditional appliance maker into a high-tech industrial powerhouse. Fang's wealth is derived from his significant stake in the publicly traded company, which he received through stock awards for his long and successful service.