Lei Jun, Chairman and CEO of Xiaomi, presents the SU7 at a launch event in Beijing on March 28. MICHAEL ZHANG/AFP via Getty Images Lei Jun, cofounder of Chinese smartphone giant Xiaomi, became $1.3 billion richer on Monday after the launch of the company's first electric vehicle wowed the market. The 54-year-old mogul, who derives most of his net worth from a Xiaomi stake, boosted his net worth to $13.8 billion, according to Forbes' Real-Time Billionaires List. Shares of the Hong Kong-listed company surged as much as 16% on Monday, the first day of trading after investors returned from the Easter holiday break. "The stock has received a boost from Xiaomi's new energy vehicle," says Kenny Ng, a Hong Kong-based securities strategist at Everbright Securities. "The initial orders have exceeded market expectations."