New York (CNN Business) The founder and CEO of Chinese smartphone maker Xiaomi is receiving a huge bonus for a year in which the company went public. Xiaomi said in a regulatory filing Wednesday that Lei Jun is receiving more than 636.6 million shares as a bonus for "his contributions to the company." Based on the stock's current price, that works out to about 7.54 billion Hong Kong dollars, or about $961 million. Xiaomi said in the filing that Lei promised to donate all the shares — after deducting taxes — to charitable purposes. Apple AAPL Xiaomi went public in Hong Kong last July.

Source: CNN April 10, 2019 21:11 UTC