Haute 100 Los Angeles Update: John Tu

Our Haute 100 list details the accomplishments of the most influential people in each of our markets—Miami, New York, Los Angeles, and San Francisco. These people continue to make moves, so rather than waiting for the next Haute 100 issue to come out, we thought we’d provide you with regular updates on those Haute 100 members who are making headlines. Technology entrepreneur John Tu’s company Kingston Technology is named one of Inc. magazine’s top ranked, fastest growing companies.

John Tu

Category: Billionaires

Company: Kingston Technology

Industry: Technology

What Made Him Haute: This self-made billionaire co-founded Kingston with David Sun, which is currently the largest computer memory firm. When they sold an 80 percent stake in Kingston Technology in 1996 for $1.5 billion, they spent $100 million of it on lavish bonuses for their employees with the average bonus exceeding $100,000.

What Makes Him Haute Now: Coming in sixth place might not seem like a great feat for most rankings, but when the competition is out of 5,000 number six is quite impressive. That is where John Tu’s company Kingston Technology ranks in total revenue on Inc. magazine’s list of America’s fastest growing companies. Last year Kingston Technology’s revenue totaled $4.1 billion. Tu and Kingston Technology co-founder David Sun are no strangers to Inc.’s list. In 1992 Kingston was ranked the No. 1 fastest growing private company, and it is currently set at No. 20 in gross-revenue for the years 2006 to 2009. Those who made the list this year should be especially proud since, as Inc. president Bob LaPointe remarks, “The leaders of the companies on this year’s Inc. 5,000 have figured out how to grow their businesses during the longest recession since the Great Depression.” Long live Kingston.