Dong Mingzhu

IMPW 2019. 03. Mingzhu Dong
Visual China Group via Getty ImagesVisual China Group via Getty Images
  • Title
    Chairwoman & President
  • Company
    Gree Electric Appliances
  • Country

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.

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