Co‑founders of Kingston Technology have increased their wealth by 44 % this year thanks to the growth of the artificial intelligence market

Brief news highlights:

- Revenue and profit growth

Quarterly reports from memory chip manufacturers allow assessment of revenue and net income trends in the industry.

- Kingston Technology’s position

This year the wealth of the company’s two founders increased by 44 % – almost $14 million.

- Comparison with global billionaires

In terms of personal capital growth in 2023 only Elon Musk and Carlos Slim lead, but Kingston technologists already rank 45‑46th on the list of the world’s richest people – at $45 million each.

- Ownership history

SoftBank owned Kingston from 1996 to 1999; then the founders sold 80 % of the shares to Sun for $1.5 million and four years later bought them back for $450 million.

- AI impact

Companies involved in memory production are rapidly growing amid rising interest in artificial intelligence. For example, Micron Technology’s market capitalization has more than quadrupled over the last 12 months.