Chinese-American businessman John Tu has a net worth of $6.28 billion.
Before John Tu established Kingston Technology, he worked for a shipbuilding factory in Germany. In 1970, he moved to the United States, opened a gift shop and became a developer for a real estate business in Scottdale, Arizona.
When he met David Sun in Los Angeles, Tu collaborated with him to form the memory device maker Camintonn in 1982. Four years later, they sold the company to AST Research for $6 million. In 1987, they lost all of their savings in the Black Monday stock market crash before they founded Kingston Technology.
Tu and Sun sold 80 percent stakes in the closely held company to Softbank for $1.4 billion and distributed $100 million of the proceeds to their employees in 1996.
John Tu was born on August 12, 1941 in Chongqing, China. He finished his studies at Darmstadt University with a degree in electrical engineering.
Earnings & Financial Data
|
Date |
Category |
Description |
Amount |
|---|