This Billionaire Mom Runs America's Biggest Woman-Owned Business
Joyce Park stashed this in Feminism
An immigrant from Korea used every bit of the opportunity drivers still afforded by America -- excellent secondary education, early stints in corporations famed for training their employees, access to capital, and room for newcomers with better service -- to become the leader of the biggest female-owned business in the country. BTW terrible headline: the article mentions her "momness" only twice, and basically in the context of saying she works 7 days a week.
$6 billion a year in revenue?! And she says it still has plenty of room to grow.
In fact, there’s nothing in trappings or manner to reveal what, until now, has been kept under wraps. Thai Lee owns the largest female-owned business in America, and apparently one of the top three minority-owned ones. And it’s made her a billionaire.
You probably haven’t heard of her or her company, but under Lee’s management SHI International has grown from a failing software reseller with five employees and about as many customers into one of the biggest and best-regarded IT providers in the world, with $6 billion in sales and 3,000 employees worldwide. Selling everything from third-party hardware and software to custom applications and consulting services, SHI has amassed 17,500 customers, including the likes of Boeing, Johnson & Johnson and AT&T. It has posted positive sales growth every year of its existence and exceeded 15% growth in 2014. While the private company won’t reveal profits, Lee, who is CEO, suggests its net margins are approximately 3%.
Compare this to Koch Industries, 84% of which is owned and controlled by 2 of the 4 Koch brothers. Their annual revenue is $115bb. Of course the Koch brothers inherited their business and bought out the other 2 brothers, so they aren't exactly founders... but still, they're the closest "male-owned business".
Wow I wonder how angry the other two brothers are at being bought out.