NET WORTH: $6.46 billion, up 44 percent
LAST YEAR: $4.5 billion
RESIDENCE: Rolling Hills
SOURCE OF WEALTH: Computer technology
THE MONEY: Tu and his partner, David Sun, are co-owners of Fountain Valley memory card maker Kingston Technology. Kingston’s revenue jumped 9 percent to $5.9 billion in 2014 as the company saw gains across product lines, with pricing strength on core memory products a key factor.
BUZZ: Kingston, along with its competitors, has expanded product lines beyond simple flash memory cards, SSD drives and DRAM modules. It recently launched a five-in-one mobile companion product: a storage device, USB charger, Wi-Fi access point, media streamer and memory card reader, meant to respond to rising smartphones sales, which have pushed demand for greater external storage options. Kingston’s core business is expected to profit from the trend. His John and Mary Tu Foundation has made contributions to UC Irvine Foundation, Santa Ana’s Pacific Symphony and the Los Angeles Ballet. A resident of secluded Rolling Hills, he is a drummer for a band called JT and California Dreamin’ that plays charity events. Born in China and raised in Taiwan, he studied electrical engineering in Germany before moving to United States.
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