Grace Wang

Grace Wang cofounded Shenzhen-based manufacturer Luxshare with her brother in 2004 after spending a decade at Foxconn. Decades later, she’s encroaching on her former employer’s turf, turning Luxshare into a leading maker of AirPods, Apple Watches, and iPhones. The company reported around $31 billion in revenue for 2024. But now Luxshare faces a new threat: Trump’s tariffs. Luxshare’s factories in China and Vietnam could be pressured as the U.S. tightens the screws on its technology imports. Luxshare is now exploring new manufacturing hubs in Southeast Asia, and even the U.S. Luxshare could also be trying to lessen its dependence on Apple. The company was the sole supplier of Apple’s mixed-reality headset, only for the iPhone maker to reportedly halt production late last year.