The 50 Wealthiest Angelenos: Ming Hsieh #47

0



#47 – Ming Hsieh

Net Worth: $540 million

Last Year: Not on list

Age: 52

Residence: Los Angeles

Source of Wealth: Computer hardware, software


The Money:

Co-founder and chief executive of Cogent Systems Inc. another beneficiary of post-9/11 security surge. Pasadena company loved by law enforcement for making devices that can scan fingerprints and retinas. Stock rose about 22 percent for year on orders from governments worldwide. Hsieh, who owns 52 percent of Cogent, making reappearance on list after falling off last year.


Buzz:

Cogent broke into field of battlefield technology this year with introduction of Fusion, rugged, waterproof hand-held device that allows U.S. special forces soldiers to record and identify fingerprints and eye retinas of terrorism suspects. But company? core customers continue to be from law enforcement: L.A. County Sheriff? Department ordered 1,000 fingerprint scanners for deputies, while scanning systems were shipped to police in Belgium. Born in China, Hsieh learned electrical engineering working alongside upper-middle class father, who was sent into countryside during China? Cultural Revolution for re-education and became installer of crude power systems. Immigrated to the U.S. in 1980, Hsieh graduated from USC with master? in electrical engineering before working for chip maker International Rectifier and then founding Cogent.

No posts to display