$2.4 billion 7.7%
LAST YEAR: $2.6 billion*
RESIDENCE: Rolling Hills
SOURCE OF WEALTH: Computer technology
THE MONEY: Revenue at his Kingston Technology Co. dropped to $5 billion in 2012 as sales of memory chip maker’s primary product line continued to decline.
BUZZ: Tu and Kingston co-founder David Sun celebrated 25th anniversary of Fountain Valley company last fall. They sold Kingston in 1996 for $1.5 billion but bought it back three years later at discounted $450 million. After record year in 2010, Kingston hit by industrywide slowdown in memory market. Sales of its smaller flash memory line benefitted from shift, but did not make up for revenue shortfalls in other divisions. Company still hedging bets on memory market, however, purchasing 21 percent stake in Taiwanese rival Panram International Corp. in August. Tu lives in small Palos Verdes community of Rolling Hills, but spends most of his time in Orange County. Drummer and his band, JT and California Dreamin’, regulars at charity events, including last summer’s Pacific Symphony fundraiser where he donated $100,000.
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