Zhou Qunfei, chairwoman and president of Hunan-based Lens Technology.
CREDIT: Getty Images
Ever heard of Zhou Qunfei? Her name might not sound familiar to you now, but that’s about to change.
Zhou was born in a small farming community in China, dropped out of school at age 16, and started working grueling 16-hour days at a factory polishing glass for watches, as reported by New York Times.
When the factory closed, she started her own company at age 22 with $3,000. Today, her net worth is $8.93 billion, according to the Bloomberg Billionaires Index. She’s only 47.
That makes Zhou the youngest self-made female billionaire in the world. This spot was previously held by Elizabeth Holmes, who at the peak of her heyday was worth $4.5 billion. Her healthcare startup Theranos blew up last year.
Unlike Holmes, Zhou is poised to maintain her top position — and grow her wealth even more.
Zhou’s company, Lens Technology, churns out billions of paper-thin glass screens for phones, laptops and tablets a year. The company went public in 2015, making her a billionaire.
Here’s how Zhou built an empire by manufacturing the thin cover glass that’s likely on the Apple iPhone or Samsung Galaxy you’re holding right now.
Learn on the job
Zhou didn’t get an MBA from Stanford or move to Silicon Valley to make the right strategic connections.
She started on the watch factory floor, gradually building her way up. Now that she owns her own manufacturing company, Zhou is uniquely qualified to ensure the output is top-notch and the processes are most efficient.
James Zhao, a general manager at Lens Technology, told New York Times that Zhou will sometimes sit down with an operator of a machine to address problems. She sees things that even her own managers don’t.
Embrace the pivot
Zhou began her company by manufacturing in what she knew: the glass for watches. Then in 2003, she got a call from Motorola. They were creating a new phone, the Razr V3. Most phones had plastic screens at the time.
Motorola put Zhou on the spot. They asked her if she could develop a glass screen. They immediately wanted a yes or a no. She said yes.
Zhou went all in on the glass screen, a decision that ultimately paid huge dividends. Motorola helped her set up the process, but she took it upon herself to continue to refine her product with large investments in new factories, research and development. Other mobile phone makers took take note and started ordering their screens from Lens Technology.
When the iPhone entered the market in 2007, Zhou’s company was the obvious choice to supply the screen.
Live for your work. Literally.
Zhou logs 18-hour days and rarely leaves the office. In fact, she sleeps there.
“I have been sleeping here for the best part of two years,” Zhou told Australian Financial Review. Her office has a fridge and stove. There’s also a bedroom tucked behind her desk, where she sleeps and keeps her clothes.
It sounds extreme, but this is how Zhou is able to ensure her factory maintains the quality of their products. By essentially living on premise, she’s close enough to pop over the factory floor to oversee any issues or manufacturing hiccups.
Cultivate laser-sharp focus
One reason Zhou has flown under the radar for years is because she’s so intensely focused on building her company. She shies away from the public eye and she rarely grants interviews. When AFR snagged an interview with Zhou in 2015, their reporter had to wait two-and-a-half hours to get face time with her.
Zhou has expanded the Lens Technology empire to 32 factories that reportedly employ more than 90,000 staff. But will you find her calendar packed with media visits or inviting press to ogle over the precision of the fraction-of-a-millimeter screens her company manufactures? Nope. She’s not that kind of leader.
Zhou has been described as obsessive and detail-oriented. She calls herself a perfectionist. She designed the entire manufacturing process for the screens.
Growing up in a small Chinese village, Zhou says her options were limited. Most girls didn’t complete middle school. They went on to get married and spent the rest of their lives in the village. She wanted more.
“I chose to be in business,” she told New York Times, “and I don’t regret it.”
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