The 50 Wealthiest Angelenos: John Tu – #14

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The 50 Wealthiest Angelenos: John Tu – #14
John Tu

The money and the buzz on each of L.A.’s wealthiest.

THE MONEY: Tech baron saw net worth rebound as computer chip market made comeback. His memory chip manufacturer Kingston Technology saw revenue climb $100 million to $4.1 billion, better than some publicly traded rivals.

BUZZ: Low-profile Tu lives in Los Angeles County, but is more connected to life in the OC. Company headquartered in Fountain Valley. Kingston also mainstay donor to Orange County causes, including Boys & Girls Clubs of Huntington Beach and Fountain Valley. Has backed stem cell research motivated by former business partner who was dialysis patient. Also has given to homeless. Tu and partner David Sun made first millions when they sold Kingston in 1996 to Japan’s Softbank Corp. for $1.5 billion. Three years later, they bought company back for $450 million. Plays drums in band, JT and California Dreamin’, which practices occasionally at Kingston headquarters and performs for charitable causes. Home in Palos Verdes Peninsula’s tiny Rolling Hills enclave.

• NET WORTH: $2 billion +150%

• LAST YEAR: $800 million

• AGE: 69

• RESIDENCE: Rolling Hills

• SOURCE OF WEALTH: Computer technology

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