Who is Wu Yajun? She is known as the wealthiest self-made woman in China

Wu Yajun, a remarkable woman in China’s business landscape, has recently gained attention for a remarkable increase in her net worth by a staggering $1.1 billion. This surge in wealth comes amid Beijing’s efforts to revitalize the country’s struggling property sector. Wu, the former chairperson of Longfor Properties, has seen her net worth soar to $8.8 billion, making her Asia’s richest self-made woman and billionaire.

Wu’s journey to success is nothing short of inspiring. Starting as a technician in a state-owned factory, she earned a modest salary of $16 per month. However, her aspirations extended far beyond her humble beginnings. Transitioning to journalism, Wu covered the real estate beat for a local newspaper, where she witnessed firsthand the challenges facing China’s property market. Undeterred, she and her then-husband, Cai Kui, founded Longfor Properties in 1993, laying the groundwork for her monumental success.

Despite facing setbacks, including a significant loss of wealth during the 2022 credit crisis in China, Wu’s resilience and strategic acumen have propelled her to remarkable heights. She stepped down from her role as chairperson of Longfor Properties in 2022, yet her influence on the company remains substantial, underscoring her enduring impact.

Here are some key highlights from Wu Yajun’s life and career:

1. Wu was named the richest self-made woman in the world by Hurun in 2022, with an estimated net worth of $17 billion.
2. She experienced a substantial decline in her wealth during the 2022 credit crisis, losing about two-thirds of her property and bringing her net worth down to around $6.3 billion.
3. Wu founded Longfor Properties with her ex-husband in 1993, but following their divorce in 2012, she lost her status as China’s richest woman.
4. Despite facing challenges, including the misspelling of her name in China’s wealthiest people list in 2003, Wu’s entrepreneurial spirit and expertise in real estate propelled her to success.
5. After resigning from Longfor Properties, Wu appointed Chen Xuping, a former general manager, as the company’s new chairperson.
6. Wu’s daughter, Cai Xinyi, became China’s second richest woman through a trust set up by her mother, increasing her net worth to about $7 billion.

Wu Yajun’s journey serves as a testament to the power of determination and resilience in overcoming obstacles and achieving remarkable success in the business world.

Repurposed article originally published in She The People