Dong Mingzhu

Dong, one of the most revered business leaders in China, rules the nation’s largest aircon manufacturer with an iron grip. Last year, as Gree’s longstanding chairperson, Dong stared down the company’s largest shareholder when they pushed for greater derivative pay-outs. Instead, Dong invested the money in semiconductors so that Gree can wean itself off of its dependence on U.S. suppliers. Dong, a frequent delegate to China’s governmental advisory body, the National People’s Congress, is so confident in Gree’s long term prospects that she recently renewed a Rmb1 billion ($140 million) bet with smartphone maker Xiaomi on which company the would have higher revenues in five years’ time. Gree won the last bet, which closed in 2018, with revenues surging 33% to $30 billion. Dong didn’t collect her winnings.

Subscribe to The Broadsheet, our newsletter on the world’s most powerful women.