What is John Tu’s Net Worth?
John Tu, the co-founder and president of Kingston Technology, has an estimated net worth of $11.6 billion. The primary source of Tu’s wealth is his 50% stake in Kingston Technology, a company he co-founded with David Sun in 1987.
Kingston Technology has become a global leader in computer memory products, with reported revenues of around $16.1 billion in 2022.
It’s worth noting that Tu has faced a lot of challenges. In 1987, he and Sun lost most of their savings in the stock market crash. However, they rebounded by founding Kingston Technology that same year, which ultimately led to their immense financial success.
Here’s the breakdown of John Tu’s net worth:
Name: | John Tu |
Net Worth: | $11.6 Billion |
Date of Birth: | August 12, 1941 |
Profession: | Businessperson |
If you’re curious about how we estimate a celebrity’s net worth, you can check out our methodology here.
Early Life
John Tu was born in Chongqing, China, in 1941 during a tumultuous period in Chinese history. His father was an official in China’s Nationalist government. In 1945, the Tu family moved to Shanghai, and two years later, they relocated to Taiwan as the Chinese Civil War neared the coast.
Tu’s early education was challenging, as he described himself as a mediocre student unable to attend the best Chinese colleges. This led him to pursue opportunities abroad, first moving to Germany in 1960 to study electrical engineering.
Despite initial language barriers, Tu persevered, completing his degree at the Technische Universität Darmstadt in 1970.
Career
John Tu’s career trajectory took a significant turn after he moved to the United States in 1971. In 1982, he co-founded Camintonn Corporation with David Sun, focusing on computer memory products. They sold this company in 1986 for $6 million, but their fortunes took a hit during the 1987 stock market crash. Undeterred, Tu and Sun founded Kingston Technology that same year, which would become the cornerstone of Tu’s wealth.
Kingston Technology grew rapidly, becoming a leader in the computer memory industry. In 1996, Tu and Sun sold 80% of the company to Softbank for $1.5 billion, only to buy it back three years later for $450 million. This strategic move allowed them to retain control of the company and continue its growth.
Under Tu’s leadership as president, Kingston Technology has become the world’s largest independent manufacturer of memory products, with reported revenues of around $16.1 billion in 2022.
Tu’s 50% stake in Kingston Technology forms the primary basis of his net worth.
Philanthropy
John Tu has made significant contributions to various causes, with a particular focus on education and community development. One of his notable philanthropic efforts includes supporting Erin Gruwell’s Freedom Writers Foundation, to which he has donated hundreds of thousands of dollars to help underprivileged students.
In 2021, Tu made a substantial donation to the Western Iowa Journalism Foundation, enabling the Pulitzer Prize-winning Storm Lake Times to acquire its local competition and a weekly newspaper in an adjoining county. This contribution helped preserve local journalism in the area.
In addition, in 2011, Tu donated $1.2 million to provide every first-year medical student at UC Irvine with an iPad, supporting technological advancement in medical education.
Personal Life
John Tu is married and has two children. Tu resides in Rolling Hills, California, where he balances his business responsibilities with family life.
One of Tu’s notable personal interests is his passion for music. He plays drums with his band, JT and California Dreamin’, which often rehearses at Kingston Technology’s corporate headquarters.
Ashley Roberts is the founder of Real-Time Billionaires List. She founded this platform because she likes to know how much celebrities are actually making. She is always curious why these people can make much more money than the ordinary person.
With a Bachelor’s degree in finance, she is skilled at financial analysis and understands numbers related to wealth. Most of the articles on this site are edited by herself before publishing.
