Word: hwang
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...Philip Hwang, 47, founder of TeleVideo Systems, a maker of computers and computer terminals. At twelve, Hwang was smuggled from North Korea to South Korea by U.S. troops under some maps and canvas in an Army truck. After arriving in the U.S., he paid his way through college working as a dishwasher and waiter in Lake Tahoe casinos. Hwang gained business experience by running a 7-Eleven store in San Jose, Calif., and then in 1975 used his savings of $9,000 to start making video games in his Cupertino, Calif., garage...
Though his company was shunned at first by established financial backers, Hwang got started making low-cost, high-quality computer monitors. When TeleVideo went public in March, Hwang sold shares worth $11.8 million, but kept stock worth $520.4 million...
...only discernible change in Hwang's life-style has been to move into a new home in Los Altos that was modeled after a Welsh castle. It has a sauna and Jacuzzi in the master bedroom and an elaborate security system. Hwang still works a six-day week. Says he: "My executives call me a slave driver. But I tell them to look at Osborne, and they don't say anything." Adam Osborne headed a fast-growing personal-computer firm that announced plans to go public last winter but ended up filing for bankruptcy in September...
...video-display terminals, issued its first public stock in March, its founder, K. Philip Hwang, was instantly worth about $500 million. Telerate, a company that provides securities price quotations electronically to money managers, went public last month, and a group of British investors watched the value of their 90% stake in the firm jump from $75 million to $740 million...
...small business computers (some 20,000 sold in 1982). Total company sales last year were $98.5 million, up from $1.8 million in 1978. When TeleVideo goes public, perhaps this week, its investment bankers think the stock can be sold for $16 to $18. At $18, the 700,000 shares Hwang plans to sell will bring him $12.6 million, and his remaining 28.2 million shares will be worth $507.8 million...