Wang Shuo, a 35-year-old entrepreneur, has made waves in China by securing a spot on the “Hurun China Rich List 2024” with an impressive net worth of 8.5 billion yuan (US$1.2 billion). She also ranks 39th on Forbes’ “Richest Self-Made Women in America 2024,” with an estimated net worth of US$850 million, tying with music legend Madonna. Wang’s rapid rise to success and her status as one of the youngest women on the list have sparked public intrigue.
From Shenyang to the United States
Born in Shenyang, Liaoning province, Wang moved to the United States at the age of 16 with her mother. They settled in Baltimore, Maryland, where Wang helped support her mother’s small business by selling scooters at a flea market on weekends. Despite language barriers, her friendly personality and sales acumen shone through, marking the beginning of her entrepreneurial journey.
Reflecting on her early experiences, Wang told Forbes: “I learned how to sell and offer unique products. If everyone else is selling food, but we’re selling scooters, we stand out.”
MIT and First Business Ventures
Wang’s academic talent earned her a spot at the prestigious Massachusetts Institute of Technology (MIT), where she pursued a degree in mechanical engineering with a focus on robotics. During her studies, she met Alex Bouaziz, who would later become her business partner. In 2015, she decided to leave graduate school to co-found Aeris Cleantec AG, a company specializing in air purifiers, where she served as Chief Technology Officer. Wang returned to Beijing to oversee the design and production of the purifiers, which gained international recognition.
Aeris was acquired by iRobot in 2021 for approximately US$100 million, providing Wang with her first major financial success.
Co-Founding Deel: A Game-Changer in HR
In 2019, Wang, Bouaziz, and co-founder Ofer Simon launched Deel, a human resources platform designed to simplify payroll, hiring, and immigration processes for companies with remote teams. Wang’s vision was instrumental, foreseeing the surge in remote work during the pandemic. Her insights helped the team launch Deel at the perfect time, capturing a growing market need.
Wang is known for her tireless work ethic, often working from 8.30 am to 11 pm, taking only a brief gym break before dinner. She played an active role in building the company’s culture, personally interviewing the first 400 employees.
By March 2023, Deel’s revenue surpassed US$500 million, and the company’s valuation reached US$12 billion during its last funding round in 2021. Wang’s drive and competitive spirit have positioned her as one of the most promising entrepreneurs of her generation, making her an inspiration in the global business landscape.
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