What was Momofuku Ando's net worth?
Momofuku Ando was a Taiwanese-Japanese businessman who had a net worth of $800 million at the time of his death. Momofuku Ando died on January 5, 2007 at the age of 96 from heart failure.
Momofuku Ando earned his fortune as the inventor of instant noodles (ramen noodles) and the creator of the brands Top Ramen and Cup Noodles, both of which are owned by the parent-company he founded, Nissin Foods. Nissin Foods is the largest instant noodle manufacturer in the world. At the time of his death in 2007, Nissan had a market cap of $2 billion, annual revenue of $4 billion and annual profits of $200 million. Today the company generates around $6 billion in revenue per year, and $350 million in profit. It is a publicly traded company with a market cap of $9 billion, as of this writing. At the time of his death Momofuku owned 40% of Nissan, which would have given him a paper net worth of $800 million. If he was alive today Momofuku's net worth would be $3.6 billion, at a $9 billion market cap. That would be enough to make him on of the richest people in Japan.
After World War II, Ando became interested in the idea of creating a convenient and affordable food that could be eaten by people on the go. He began experimenting with different methods of making noodles that could be dried and stored without losing their flavor. In 1958, he invented the first instant ramen noodles, which he called "Chicken Ramen."
Chicken Ramen was an instant success, and Ando's company, Nissin Food Products, quickly became one of the largest food companies in Japan. In 1971, Ando introduced Cup Noodles, which are instant ramen noodles that come in a sealed cup. Cup Noodles were even more popular than Chicken Ramen, and they helped to make instant noodles a global phenomenon.
Ando continued to work on improving his instant noodle products throughout his life. He also founded the Ando Foundation, which promotes research and education in the field of food science. Ando died in January 2007 at the age of 96. David Chang's "Momofuku" restaurant chain is named as an homage to Momofuku Ando.
Early Life
Momofuku Ando was born Go Pek-Hok on March 5, 1910, in Chiayi, Taiwan. He was the son of a wealthy textile merchant. Ando's parents died when he was young, and he was raised by his grandparents.
The name "Momofuku" is the Japanese reading of his Taiwanese name and "Ando" was his future Japanese wife's last name.
Ando showed an early interest in business. When he was 19 years old, he started his own textiles company. He was successful in business, and he eventually became one of the richest people in Taiwan.
Nikkin Chikin Ramen
In 1938, Ando moved to Japan to expand his business. He continued to work in the textiles industry, but he also began to explore other business opportunities. In 1958, he invented the first instant ramen noodles, which he called "Chicken Ramen."
Chicken Ramen was a major breakthrough. It was the first food that could be cooked in just a few minutes, and it was very affordable. The product was an instant success, and it helped to make Ando a wealthy man.
Cup Noodles
In 1971, Ando introduced Cup Noodles, which are instant ramen noodles that come in a sealed cup. Cup Noodles were even more popular than Chicken Ramen, and they helped to make instant noodles a global phenomenon.
Cup Noodles were the result of Ando's continued innovation. He wanted to create a product that was even more convenient and easy to eat than Chicken Ramen. He also wanted to create a product that could be eaten by people in all parts of the world.
Ando's innovation paid off. Cup Noodles are now sold in over 100 countries, and they have become one of the most popular foods in the world.
KAZUHIRO NOGI/AFP/Getty Images
Legacy
Momofuku Ando is considered to be one of the most important inventors of the 20th century. He is credited with inventing instant noodles, which have become a staple food for people all over the world.
Ando's work has had a profound impact on the global food industry. He has made it possible for people to eat affordable and convenient meals even when they are on the go. Ando's legacy will continue to inspire innovators and entrepreneurs for generations to come.
Personal Life & Death
He was a devout Buddhist, and he was known for his generosity and his commitment to social welfare.
Ando died on January 5, 2007, at the age of 96. In his later years he claimed the secret to life was playing golf and eating chicken ramen daily.
He was buried in his hometown of Chiayi, Taiwan. He was survived by a wife, two sons and a daughter.
Ando's life and work were celebrated around the world. He was posthumously awarded the Order of the Rising Sun, Japan's highest civilian honor. He was also inducted into the National Inventors Hall of Fame.
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