An invention must have a significant impact to make a lasting impression on history, and this is a rare occurrence. Therefore, we should celebrate when it does happen. Some of the world's quickest emerging markets and business inventors have created an economic wave. The creations of top Asian entrepreneurs have had a profound impact on our habits, our thought processes, and, in the end, our lifestyles. Innovation is all about creating something new that improves life; it strives on passion and is not achievable without it. Successful business innovations and innovators in Asia have a unique perspective of the world and are fixated on enhancing it. Here are the 5 Business Inventors who have ridden the economic wave in Asia.
Liang Wengen
Liang Wengen serves as the chairman of Sany Group, one of China's largest construction equipment manufacturers. Despite being born into a financially disadvantaged family in China's Hunan province, Liang attained a graduate degree and, along with three others, established Sany in 1989 as a small welding materials factory in the same province. Following its humble beginnings, the conglomerate has expanded into a global enterprise, with five industrial parks in China and five manufacturing bases in the U.S., Germany, India, Brazil, and Indonesia, in addition to 21 sales firms worldwide.
Liang sparked attention in China with his statement that more than two decades ago, he had wished to become a member of the Communist Party to assist him in finding a beautiful wife. He eventually joined the party in 2004 after being previously denied membership due to his private business concerns.
Masayoshi Son
The CEO of Softbank, Masayoshi Son, is Japan's third-largest mobile carrier. Forbes lists him as the third wealthiest person in Japan.Masayoshi, whose grandparents were from Korea, grew up in a rural area southwest of Tokyo. He later moved to California for high school and then attended the University of California, Berkeley.
At the age of 19, he developed a talking electronic translating machine, which he sold to the Japanese electronics company Sharp. After that, he returned to Japan and established Softbank in 1981 as a distributor of computer and software. The company later expanded into a major player in the telecom industry and made investments in various companies across different sectors, including Yahoo, Aozora Bank, and Nasdaq Japan. Softbank's market capitalization now exceeds $53 billion, with Son reportedly owning more than 20 percent of the group.
Tatparanandam Ananda Krishnan
Ananda Krishnan, the second wealthiest individual in Malaysia, has built a diverse business empire encompassing telecommunications, gaming, real estate, oil, and pay TV.
Hailing from Kuala Lumpur, Ananda Krishnan, a graduate of Harvard, initially amassed his wealth as an oil trader and served as a founding director of the state oil giant Petronas. He gained control of multiple Malaysian companies through his holding firm, Usaha Tegas, and despite maintaining a low profile, he is known for his adeptness in timing the stock markets.
Ananda Krishnan, with his controlling interest, opted to take Malaysia's leading telecommunications company, Maxis, private in 2007, just before the onset of the global financial crisis. He subsequently relisted it in 2009 through a $3.3 billion initial public offering (IPO). In July 2011, he conducted the listing of offshore oil firm Bumi Armada, raising $890 million right before market volatility led to the cancellation of numerous IPOs in Asia. Ananda's most recent market maneuver was the relisting of pay-TV company Astro All Asia Networks in October, raising $1.5 billion after he had taken it private in 2010.
Ananda is known for being protective of his privacy, seldom appearing in public and reportedly spending the majority of his time in the south of France with his wife and young daughter. His two children from a previous marriage are not part of the business empire, as his daughter is reportedly working as a doctor in Britain, and his son has become a Buddhist monk.
Li Ka-Shing
The wealthiest self-made business tycoon on the list and the richest man in Asia is Li Ka-shing. Considered one of the most powerful business figures in Asia, Li, 84, has earned the nickname "Superman" due to his reputation for savvy business deals. He left mainland China to go to Hong Kong with his family in 1928, quitting school at the age of 12 to work in a plastics factory after his father contracted tuberculosis. By age 19, he became the general manager of the factory after starting as a salesman. Li founded his own plastic manufacturing business in 1950 at age 22, now known as Cheung Kong Industries, one of Hong Kong's top real estate investment firms.
Starting in 1956, he began acquiring property to expand the plastics business, which was publicly listed in 1972. The business continued to grow and diversify, acquiring Hutchison Whampoa and Hong Kong Electric, among others.
Li's business is now so diversified that it includes shipping, telecommunications, and biotechnology, with employees in 52 countries. His two sons, Victor Li, 48, and Richard Li, 45, manage his various businesses. Victor oversees Cheung Kong, Hutchison Whampoa, and KC Life Sciences and is set to inherit Asia's largest family fortune, while Richard serves as the Chairman of PCCW, a telecommunications company.
Charoen Sirivadhanabhakdi
Charoen, hailing from a family of 11 and the son of a street vendor who moved from southern China to Bangkok, began working at the age of nine after dropping out of school. In the 1970s, he established a small trading enterprise focusing on selling inexpensive local beer and whiskey. Over the following fifteen years, he expanded his portfolio to include ownership of sugar mills, banks, and insurance companies.
An important milestone in his beverage business occurred in 1995 when he formed a partnership with Danish brewer Carlsberg to manufacture Chang Beer. This venture led to the establishment of Beer Thai, which later became part of Thai Bev, a company listed in Singapore. Additionally, the magnate has made significant investments in real estate, with his privately held company TCC Land owning shopping centers and hotels spanning from Singapore to New York.