Net Worth: $7.1 billion, up 10 percent
LAST YEAR: $6.46 billion
RESIDENCE: Rolling Hills
SOURCE OF WEALTH:Computer technology
THE MONEY: Wealth of Kingston Technology Corp. co-founders John Tu and David Sun closely tracked growth of Kingston Technology’s revenue last year, which increased 10 percent to $6.5 billion from estimated $5.9 billion in 2014. While industry competitors saw revenue deflate last year, Kingston’s tight control over supply chain and its diversified products helped company continue to grow.
THE BUZZ: Kingston remains world’s largest independent maker of memory products. Company has differentiated itself in recent years with HyperX brand for gamers, which sells colorful memory cards and headsets. Kingston’s ability to control market supply and its deals with hardware manufacturers helped company defy industry headwinds. Tu is avid drummer and his band JT and California Dreamin’ plays charity events. Company is named after one of his favorite bands, the Kingston Trio. Chinese-born Tu was raised in Taiwan and studied electrical engineering in Darmstadt, Germany. John and Mary Tu Foundation has made donations to UC Irvine Foundation, Santa Ana’s Pacific Symphony, Los Angeles Ballet, and Freedom Writers Foundation.
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