Richest Person in China is a Woman!

It was announced last week that Zhang Yin is the richest person in China with an estimated wealth of $3.4 billion. This marks the first time a woman has topped the list. She is also the richest self-made woman in the world, meaning she did not inherit her wealth, and she’s got more cash than Oprah or JK Rowling.

What makes it much sweeter is that Zhang’s company, Nine Dragons Paper, specializes in paper recycling. Not high tech. Not telecommunications. Not manufacturing. Paper recycling. She exports paper from the United States (where she now resides) to China to make containerboard.

Her rise to the top of this list is unique because most of the largest companies in China are state-owned or run by well-connected men. While China is officially a Communist country, capitalism is fast on the rise. She’s a glaring example of what can be accomplished given the freedom to do so.

As China’s rich get richer, however, there is a growing gap between the rich and the poor. Some believe that this could eventually threaten social stability. In July, Chinese President Hu Jintao called for efforts to help close this gap. He has a five-year plan to do so as social unrest has broken out in parts of the country.

Let’s hope that Ms. Zhang takes a cue from Bill Gates and Warren Buffet and pumps some of that money into solving global issues, starting with her home country.

Happy Travels!