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MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year

2

Now worth $200 million, Sarah Jessica Parker credits being ‘one of eight kids that struggled financially’ for her hunger, ambition, and work ethic

3

Ikea’s billionaire founder was so frugal that he bought clothes from flea markets and took free salt and pepper from restaurants

1

MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year

2

Now worth $200 million, Sarah Jessica Parker credits being ‘one of eight kids that struggled financially’ for her hunger, ambition, and work ethic

3

Ikea’s billionaire founder was so frugal that he bought clothes from flea markets and took free salt and pepper from restaurants
TechGlobal 500

The Top Executive That Just Left Xiaomi Has Been Scooped Up by Facebook

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January 26, 2017, 1:57 AM ET
Xiaomi Corp. Vice President Of Global Operations Hugo Barra Launches The Mi 5 Smartphone In India
Hugo Barra, vice president of global operations at Xiaomi Corp., gestures while speaking during the launch of the company's Mi 5 smartphone in New Delhi, India, on Thursday, March 31, 2016. Foxconn Technology Group began assembling Xiaomi's first made-in-India smartphone from a new plant in the country's south last year, helping the Chinese company shorten delivery times and prop up margins. Photographer: Prashanth Vishwanathan/Bloomberg via Getty ImagesPrashanth Vishwanathan—Bloomberg/Getty Images
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Facebook (FB) has hired Hugo Barra, the most prominent global executive at Chinese smartphone maker Xiaomi (XIAOMI), to lead its virtual reality business including the Oculus unit, Chief Executive Mark Zuckerberg said.

The 32-year-old Facebook founder has spoken about about virtual reality as an important part of the company’s future business, especially as the technology becomes less expensive and its uses clearer. Facebook acquired Oculus in 2014, believing it to be the next major computing platform.

“Hugo shares my belief that virtual and augmented reality will be the next major computing platform. They’ll enable us to experience completely new things,” Zuckerberg said in a post on Facebook.

For more on Facebook’s Oculus purchase, watch Fortune’s video:

Earlier this week, Barra said he was stepping down as Xiaomi’s vice president after three-and-a-half-years, citing health concerns and a new job.

His exit comes at a time when Xiaomi is trying to adjust its strategy. The company pulled back from several overseas markets, including Singapore and Brazil, in 2016. It is increasing its offline retail presence and aims to develop artificial intelligence and Internet finance as growth areas.

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