Recent EMC data on the spin-dependent proton structure function suggest that very little of the proton spin is due to the helicity of the quarks inside it. We argue that, at leading order in the 1/N/sub c/ expansion, none of the proton spin would be carried by quarks in the chiral limit where mq = 0. This model-independent result is based on a physical picture of the nucleon as a soliton solution of the effective chiral Lagrangian of large-N/sub c/ QCD. The Skyrme model is then used to estimate quark contribution to the proton spin when chiral symmetry and flavor SU(3) are broken: this contribution turns out to be small, as suggested by the EMC. Next, we discuss the other possible contributions to the proton helicity in the infinite-momentum frame--polarized gluons (..delta..G), and orbital angular momentum (L/sub z/). We argue on general grounds and by explicit example that ..delta..G = 0 and that if the parameters of the chiral Lagrangian are adjusted so that gluons carry /similar to/50% of the proton momentum, most of the orbital angular momentum L/sub z/ is carried by quarks. We mention several experiments to test the EMC results and their interpretation.